AFCU's Klein Leads Effort In Arkansas Against Payday Lending

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A group brought together by a credit union executive and calling themselves "Arkansans Against Abusive Payday Lending" (AAAPL) has held its first meteing here.

H.C. "Hank" Klein, president of Arkansas FCU, assembled the group, which included representatives of the Consumer Federaion of America, Consumers Union, Arkansas Advocates For Children and Families, the NAACP, Consumer Credit Counseling, AARP, the AFL/CIO, and an attorney who has fought payday lenders, including oral arguments before the Arkansas Supreme Court later this year.

In his remarks Klein shared the results of a study conducted by Arkansas FCU to ensure that payday lenders in the state were complying with the Check Cashers Act of 1999.

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