Get in on the discussion ( )
TribLIVE’s Daily and Weekly email newsletters deliver the news headlines you would like and information you will need, directly to your inbox.
A Republican state agent from Philadelphia penned a home bill that may reintroduce cash advance outlets to Pennsylvania due to concern that way too many customers look to predatory online loan providers beyond regulatorsвЂ™ reach.
Customer teams think the legislation, passed away by the home, 102 to 90, on Wednesday, invites lending techniques that a lot of usually gouge lower-income wage earners with double- if not triple-digit rates of interest and keep customers with debt.
In any event, payday lending continues to stir debate. It is not yet determined whether or not the Senate will pass the bill into legislation. Gov. Tom Corbett and his administration banking that isвЂ™s have never taken a posture onto it.
вЂњBy passing that legislation, Pennsylvania would go backwards in protecting its citizens,вЂќ said Ernie Hogan, executive manager of this Pittsburgh Community Reinvestment Group. (more…)