Payday Pundit

Senator Blanche Lincoln’s attempt to raise a state-mandated cap on some loan interest rates in Arkansas was rejected by her senate colleagues last night.  The Arkansas News Bureau reports that the issue will now be debated in the U.S. House, and Arkansas legislators are optimistic about their chances of adopting the measure:

All four of the state’s congressmen have said they support the Lincoln bill to permit Arkansas lenders to charge higher interest than allowed by the state constitution. 

The Payday Pundit will be following this story closely.