PHILADELPHIA CITY COUNCIL OPPOSES PAYDAY LENDERS HOTTEST TRY TO GUT PA CUSTOMER DEFENSES

PHILADELPHIA CITY COUNCIL OPPOSES PAYDAY LENDERS HOTTEST TRY TO GUT PA CUSTOMER DEFENSES

Philadelphia, PA – prior to a forthcoming industry-backed bill to permit high-cost, long-term pay day loans in Pennsylvania, Philadelphia City Council took step one toward fending down their efforts by adopting an answer, contacting users of the General Assembly to oppose any such legislation.

For more than a ten years, the out-of-state payday loan providers have now been attempting to bring their predatory loans into Pennsylvania by lobbying for legislation that will eviscerate state caps on interest and costs for customer loans. This session, they truly are trying to legalize long-lasting pay day loans, an item they increasingly have actually available in states where lending that is high-cost appropriate so as to avoid laws directed at their old-fashioned two-week pay day loans. Continue reading PHILADELPHIA CITY COUNCIL OPPOSES PAYDAY LENDERS HOTTEST TRY TO GUT PA CUSTOMER DEFENSES