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LITTLE ROCK (AP) — Most payday lending companies operating in Arkansas have said they will close or stop issuing high-interest loans to avoid being sued for violating the state constitution, Attorney General Dustin McDaniel said Tuesday.

McDaniel said his office received word from 52 companies that they will comply with a March 18 cease-and-desist letter he sent them. He said that based on news reports, consumer calls and other contacts, he believes another seven companies have stopped issuing payday loans.

The 59 companies account for almost all of the 156 payday lendi...