The Arkansas Supreme Court made it official.

For months, state Attorney General Dustin McDaniel has been trying to shut down payday loan operations in the state.

Earlier this year, McDaniel sent cease-and-desist letters to hundreds of payday lenders across the state, telling them their businesses violated the state Constitution and demanding they stop making new loans and forgive existing loans.

Payday lenders typically allow a borrower to write a post-dated check for ready cash now. Arkansas’ Constitution limits interest rates on loans to 17 percent, but th...

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