This article says some Arkansas payday lenders have tweaked their business model to operate under different regualtions.  From the article:

“One model involves cashing checks and charging membership fees,” Allen said. “It’s only limited by a person’s creativity. 

“The idea is for them to separate as much as possible the interest from the loan,” Allen said.

The entire article can be read here.

This could be a record.  The Payday Pundit is posting TWO fair and balanced stories in a row.  This one out of the Morning News in Northwest Arkansas carries the amazing headline: “Banning Payday Lending May Hurt Some.”   No kidding.

And the reporter, John Henley Jr. actually talked a customer and described his situation:

He has worked for the same company for 14 years and has a checking account, but a two-year dispute with his insurance company ruined his credit and payday loans kept food on his family’s table through February and March.

Kudos to Mr. Henley and the Morning News for looking at the customer perspective and publishing a fair story.