In Cherelle Parker, Council Information, Information by PHL Council might 13, 2016
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Philadelphia, PA – prior to a forthcoming industry-backed bill to permit high-cost, long-lasting payday advances in Pennsylvania, Philadelphia City Council t k the initial step toward fending down their efforts by adopting an answer, contacting users of the General Assembly to oppose any such legislation.
For more than 10 years, the out-of-state payday loan providers have already been trying to bring their predatory loans into Pennsylvania by lobbying for legislation that could eviscerate state caps on interest and costs for customer loans. This session, they truly are attempting to legalize long-lasting pay day loans, something they increasingly have actually available in states where high-cost financing is legal 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 CONSUMER DEFENSES”