A message to our customers about COVID-19
The health and safety of our customers and employees are our top priority, and we want to share with you just a few of the things we’re doing to ensure both. We have ramped up cleaning services in all our locations as well as provided hand sanitizers at...
Statement on Recently Announced CFPB Rule Change Affecting Payday Lenders
Little Rock, Ark. – Southern Bancorp, a Community Development Financial Institution (CDFI) with operations in Arkansas and Mississippi, announced its opposition to this week’s proposed Consumer Financial Protection Bureau (CFPB) rule change that would remove...
USA Today Cites Southern Bancorp Research on Payday Lending
USA Today cited Southern Bancorp’s recent study of payday lending in Arkansas, Into the Light: A Survey of Arkansas Borrowers Seven Years after State Supreme Court Bans Usurious Payday Lending Rates, in a recent editorial on the Consumer Financial Protection...
Southern Bancorp Community Partners COO, Karama Neal discusses rural economic vitality at Rural Housing conference
Washington, DC – Southern Bancorp Community Partners COO Karama Neal served as a panelist at a national conference focused on rural housing. The Future of Rural Communities: Implications for Housing, was hosted by the Federal Reserve Bank of St. Louis and the...
Into the Light: A Survey of Arkansas Borrowers Seven Years after State Supreme Court Bans Usurious Payday Lending Rates
In 2009, the last Arkansas payday loan store closed for business. At the industry’s peak, three years earlier, payday lenders operated 275 stores across the Natural State. Arkansans Against Abusive Payday Lending (AAAPL – www.stoppaydaypredators.org), a...