Ensuring Consumer Rights

Ken Hodges stood up for consumer rights in court and has provided leadership for the state in taking on companies who don’t play by the rules.

A Civil lawsuit filed by District Attorney Ken Hodges on behalf of the state cites instances where customers of payday lending were charged interest rates of 365 percent, 276 percent and 321 percent on loans ranging from $250 to $400.

A law signed in April, limits the legal interest rate on these small consumer loans to 16 percent.

“I’d like to bleed'em dry like they bled these victims dry,” Hodges said after freezing about $90,000 of the company’s assets. He stated his belief that payday loan businesses trap customers into a spiraling debt-cycle through exorbitant interest rates. - Albany Herald; November 5, 2004

As Attorney General, Ken Hodges will continue to investigate allegations of fraud or illegal practices by a business while doing more to educate the general public and aid victims of fraud.