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MoneyGram Extends Exclusive Relationship With ACE Cash Express

MoneyGram Extends relationship that is exclusive ACE Money Express

Seven-Year Agreement Builds on Solid reputation providing solutions that are financial U.S. clients

DALLAS, Texas Oct. 16, 2014 (GLOBE NEWSWIRE) — MoneyGram (NASDAQ: MGI), a no. 1 global money transfer and re re re payment solutions business, established today therefore it has renewed a longstanding contract with one among its biggest agents, ACE cash Express, Inc., an Irving, Texas-based financial solutions company. The online personal loan Louisiana substantial contract that is seven-year on a good collaboration relating to the two businesses which have strategically worked together for 25 years to offer access to alternate financial services for customers through the U.S. by using this renewal, MoneyGram has guaranteed in full eight of the top agents through the original quarter of 2017 or previous.

“We are acutely pleased to restore our agreement with ACE cash Express, that was an excellent partner in growing our U.S. business. This renewal underscores MoneyGram’s effective brand that is international, reputation success alot more than 200 nations and areas, and unique method of serving our agents and clients,” states Pamela H. Patsley, MoneyGram’s president and executive officer that is main. “Our U.S. clients have in fact really relied on our solutions at ACE cash Express areas for the very long time, and together, we look forward to building on our supplied success. MoneyGram is consistently based on increasing solution distribution, and today we value ACE’s capacity to meet client needs for submit deals, cash bill and pickup re payment solutions.”

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Payday Lenders Still Active In Arkansas On Online

The final payday loan provider running a shop in Arkansas shut its doorways come july 1st, but Attorney General Dustin McDaniel stated which has hadn’t stopped predatory loan providers from continuing to a target Arkansans.

Though it'sn’t filed any legal actions against them yet, the attorney general’s workplace has delivered about 30 caution letters to alleged payday loan providers that have either loaned or provided to loan money to Arkansas residents on the internet.

“In March 2008 once I announced my intention to push payday loan providers from Arkansas, In addition cautioned that your time and effort would probably be long-lasting,” McDaniel stated.

“We are heartened that people had the ability to shut along the brick-and-mortar payday (loan providers) in eighteen months, but nevertheless mindful that the duty just isn't complete. Our efforts, now dedicated to internet-based lenders that are payday carry on unabated,” he said.

In 2 rulings just last year, the Arkansas Supreme Court stated loan providers billing high charges for short-term loans violated hawaii constitution, which limits rates of interest on loans to 17 %.

After those rulings, McDaniel told payday loan providers to turn off or face litigation. No payday lender had a store open in the state, but McDaniel’s office continues to receive complaints from Arkansas who have obtained payday loans over the Internet and found themselves deeper in debt because of high fees by August of this year.