CL – Hood right to join opposition to federal consumer credit proposal

Hood right to join opposition to federal consumer credit proposal

Mississippi Attorney General Jim Hood is sticking up for Mississippians and state law by joining the opposition to a proposed federal bill that would allow payday loan-type businesses to circumvent the law here.

The battle over high charges for short-term loans was waged in the Legislature in 2011, and even though some thought the new rules didn’t go far enough, federal intervention, particularly a law that would be weaker than Mississippi’s law in terms of consumer protection, is not needed.

Clarion Ledger
10/11/12