AR SB882

Defines "consumer lawsuit lending" as providing money to consumers for any purpose except prosecuting their dispute, with repayment conditioned on dispute proceeds, or purchasing a contingent right to receive a share of dispute proceeds.

Applies the maximum interest rate under Arkansas Code § 4-57-104 to consumer lawsuit lending transactions, with any amount exceeding the original loan amount treated as interest.

Requires consumer lawsuit lending contracts to be in writing and prominently disclose the annual percentage rate in bold, twenty-point Arial type surrounded by a 1.5 point rectangle.

Classifies violations of this section as deceptive and unconscionable trade practices under Arkansas Code § 4-88-107, subjecting violators to penalties and remedies under § 4-88-101 et seq.