Share post
member profile picture

I live in PA. How and when do I file complaints. I know PDL's are legal in PA.



In Pennsylvania, PDLs are prohibited. But small rate loan are available whose upper limit is 24% per year.

If you want to complain then please do the same to the following address: -

Regulator: Pennsylvania Department of Banking
Address: Market Square Plaza, 17 N. Second Street Harrisburg PA 17101
Phone: (717) 214-8343
Fax: (717) 787-8773
Regulatory Contact: Jim Keiser Administrator of Non-Depository Institutions

Sub: #1 posted on Tue, 08/19/2008 - 04:26


On ALL of the threads I've posted on my PDL's I've been told they ARE legal in this state. Now which is it?



Sub: #2 posted on Tue, 08/19/2008 - 04:36

dlsbrs dlsbrs

(Posts: 54 | Credits: )

Actually, come to think of it, when I first started trying to rid myself of this mess I called the PA Dept. of Banking listed here and spoke to Jim K. He told me there isn't much that can be done as there are no laws in place in PA. His recommendation to me was to call a credit union and take a loan out to pay these off. But that didn't help as the max loan was $500 and I have way more than that. He wasn't much help.

I just got off work and am dead tired so I wasn't even thinking.


Sub: #3 posted on Tue, 08/19/2008 - 04:39

dlsbrs dlsbrs

(Posts: 54 | Credits: )

i'm sure someone will be along to post the proper PA laws. i'm pretty sure they are legal but i remember there being something kinda shaky about it. maybe they have to be liscensed somewhere? either way, people here can help you. how many loans do you have? what companies, how much was borrowed and owed? we can help you here.

Sub: #4 posted on Tue, 08/19/2008 - 07:54

bea2ls bea2ls
(Posts: 3840 | Credits: )

If I remember correctly, PA is one of those states that allow PDL's as long as they are licensed SOMEWHERE. Then you would have to follow the laws where they are licensed.

If I am wrong, please correct me.

Sub: #5 posted on Tue, 08/19/2008 - 09:05

desperatelyseekingsanity desperatelyseekingsanity

(Posts: 1129 | Credits: )

DSS is correct -

[quote]Emails to and from PA Banking Dept


I have a question about payday loans in Pennsylvania. Does the small loan rate cap of $9.50 per $100 per year discount or 24% per year apply to these loans? I took out a few on the internet and am trying to figure out how much I legally need to pay. For instance on a $200 loan would I be legally responsible for paying back only $248?



Dear Ms.:

The 9.5 discount and the 24 % simple interest refer to calculations that can be used by companies that are operating in Pennsylvania and are licensed under Pennsylvania????????s Consumer Discount Company Act. With a number of exceptions, a lender that is located inside of Pennsylvania and who does not have any special lending authority (i.e., a special license or charter) who is making smaller loans not secured by real estate can only charge interest at a rate of 6% simple.

A lender that does not have a physical presence in Pennsylvania but who has lending authority from some other state can generally charge the interest rate and finance charges allowed by that other state.

The Department may or may not be reviewing this policy and I would not count on this e-mail as an interpretive opinion before starting any lending or business operations.

James Keiser | Administrator Non-Depository Institutions

17 North Second Street, 13th Floor | Hbg PA 17101
Phone: 717.783.8242 | Fax: 717.787.8773
jkeiser(at) |

What does this mean?

There are no storefronts in PA. They are illegal.

Internet lenders can lend legally to PA residents as long as they are licensed in another state. They would need to follow the laws of the state in which they are licensed.[/quote]

But - That will change as of 2/1/2009. After that, companies will need to follow PA law.

For now, I'd file complaints with the companies home state, and PA.

Sub: #6 posted on Tue, 08/19/2008 - 09:23

goudah2424 goudah2424

(Posts: 7936 | Credits: )

Goudah - what happens 2/1/09? Is PA making PDL's legal in their state? Does that mean there will be storefront's there now? OMG!

Sub: #7 posted on Tue, 08/19/2008 - 11:34

desperatelyseekingsanity desperatelyseekingsanity

(Posts: 1129 | Credits: )

No, they are changing their interpretation of the laws to make it so that internet based companies have to follow PA's laws too if they want to lend to PA residents. Currently, they don't have to follow PA laws.

Sub: #8 posted on Tue, 08/19/2008 - 11:36

goudah2424 goudah2424

(Posts: 7936 | Credits: )

More information
  • Files must be less than 500 MB.
  • Allowed file types: txt pdf jpg jpeg png.

Page loaded in 0.837 seconds.