Hooray for Pennsylvania!
Date: Tue, 07/29/2008 - 12:22
Starting February 1, 2009, all lenders must be licensed regardless of location, and must start following PA's laws on interest and such.
This is great news for people in PA. The letter state's the PA Dept of Banking's position on this matter was changed due to so many of it's residents being taken by internet lenders. So see, those complaints can and do make a difference!
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it's about time,i thought it was kinda out there that you could
prohibit pdl's as far as storefront,but internet which are worse
get cart blanche.a big step as far as i'm concerned.
that is good news and hopefully any other states still allowing
that is good news and hopefully any other states still allowing Payday lenders to run roughshod over people will be pressured to pass the same laws. Or was Pennsylvania the last stronghold of Payday Loan Insanity?
No, PA was absolutly not the last stronghold . . . Storefronts h
No, PA was absolutly not the last stronghold . . . Storefronts have been banned in PA, but the way they interpreted the laws allowed for businesses not physically located in PA to not have to follow the laws. The interpretation has changed, not the law.
that's really great, i hope all states follow suit (better yet,
that's really great, i hope all states follow suit (better yet, all states to outlaw them!)
it does make me pleased to know the complaints do something..
