Payday Pundit

KARK 4 news in Arkansas reports that “numbers of payday lenders in Arkansas are dwindling.”  A recent report released by Arkansans Against Abusive Payday Lending notes:

There were 275 payday lenders in Arkansas in March 2006, and that number has fallen to 136 as of this month.

The Payday Pundit remains mystified as to why “consumer groups” and politicians continue to celebrate the news of small businesses closing and financial options being narrowed.  This report is probably not causing champagne corks to pop for many Arkansans who look to payday loans in a pinch.