Quick Answer: Former Kansas Attorney General Robert Stephan (1979-1995) discussed how financial issues from the 1980s mirror today’s problems, including debates over payday loan regulations and debt collectors using contempt of court arrests. The interview explores whether restricting payday loans helps or hurts consumers who lack alternative credit options.
At the recent National Association of Attorneys General meeting I had the pleasure of interviewing former Kansas Attorney General Robert Stephan who served between 1979 to 1995. We talk about how financial issues from the 1980s and today are very much the same.
We talk about the problems he faced while the chief cop in Kansas.
Our discussion of payday loans is intriguing. The issue at hand, are groups stamping out payday loans helping or hurting consumers since there are not many options for people who normally turn to payday lenders.
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We also talk about the approach some debt collectors have taken of having people arrested for contempt of court and spend a night in jail.
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We also talk about if people should be ashamed about filing bankruptcy.
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