From the LEHIGH VALLEY MORNING CALL:
Advocates for the poor, who thought they’d effectively sidelined a controversial bill clearing the way for payday lending in Pennsylvania, are girding for a renewed fight during this fall’s legislative session…
The Senate Banking and Insurance Committee, chaired by Sen. Don White, R-Indiana, will hold a Sept. 19 inquest on the bill. The western Pennsylvania lawmaker believes that the bill is “worthy of consideration, otherwise he would not have scheduled the hearing,” his chief-of-staff, Joe Pittman, said. The House and Senate will return to voting sessions on Sept. 24…
Today, payday loans are not offered in Pennsylvania, in part because existing law caps how much interest can be charged by payday lenders. So Pennsylvanians who need such loans cross the state line or go online to get them…
Click here to read the full article.
EDITOR: Utter nonsense. Most Pennsylvanians would find it inconvenient if not near impossible to drive to another state. Moreover, they won’t be exposed to advertisement enticements. This industry that exploits the poor should not be permitted.
