Attorney General Dustin McDaniel says his office has obtained a court order barring the operator of multiple payday lending websites from offering illegal loans to Arkansas consumers.
McDaniel's office said a consent judgment was filed Tuesday in Pulaski County Circuit Court against Josh Mitchem, of Kansas City, Mo., PDL Support LLC and Platinum B Services LLC. McDaniel says Mitchem and the companies control the operations of Action Payday; Bottom Dollar Payday; Everest Cash Advance; Paradise Cash Advance, the VIP Loan Shop and Red Leaf Lending.
McDaniel alleged the operations offered loans to Arkansans with annual percentage rates as high as 644 percent.
The defendants admitted no wrongdoing but will stop offering usurious loans in Arkansas, cancel outstanding loans and pay the state $80,000.
A telephone listing for Mitchem was disconnected.