Judge Blocks Mississippi Shutdown of Payday Lender

JACKSON, Miss. (AP) — A judge is blocking a state order that would close one of Mississippi's largest payday lenders.

Hinds County Chancery Judge Dewayne Thomas signed a temporary restraining order Friday, allowing All American Check Cashers to stay open.

The Mississippi Department of Banking and Consumer Finance on Thursday ordered All American to close and pay $1.58 million in fines. The state also ordered refunds to at least 700 customers.

Federal and state regulators in 2014 accused All American Check Cashing of breaking state law by encouraging customers to pay only interest on car title and payday loans.

Read more: http://www.jacksonfreepress.com/news/2017/may/12/mississippi-shuts-payday-lender-orders-15m-fines/