In the news: "Ark. court says customer can collect bonds from payday lenders"

[Surety Insider]

From the AP, dated February 22, 2008:

Ark. court says customer can collect bonds from payday lenders

From the article:

..."Accordingly, the board's ruling that it could not make demand on the bonds because {the claimant} presented no evidence of a violation of the act or a board rule or regulation was arbitrary, capricious and an abuse of discretion." ...

Basically, from what I can tell, the court told the Board of Collection Agencies to do its job without having to be spoon-fed its own regulations.

No matter what side of the surety claims equation you are on, its good to have all parties pulling their own weight, regardless of the outcome.

[Admin]

Incredible!

Have you ever dealt with a similar claim situation?

[Surety Insider]

I had a few of those, but can't remember where. I think they usually came in as unpaid judgments and were pretty straightforward.

I just hate to see something going all the way to a state supreme court over what was probably nitpicking over pleadings.