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