Pennsylvania Attorney General Shuts Down Payday Loan Website
Pennsylvania's Attorney General shut down payday loan website owned by Ace Pays, Inc. The website was advertising payday loans that charged more than 600% APR.
Ace Pays, Inc., will shutter its Internet site, pay $70,000 in fines and costs, and refund consumers the amount of interest paid above the maximum 6 percent allowed under Pennsylvania law, said Attorney General Tom Corbett and Pennsylvania Banking Secretary Bill Schenck.