Payday Loan Times

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Pennsylvania Attorney General Shuts Down Payday Loan Website

Filed under: Pennsylvania — Roman Parchowsky at 11:58 pm on Monday, October 3, 2005

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. 

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Pingback by Payday Loan Times » Blog Archive » Advance America Confident About Future of Its Cash Advances

Monday, February 27, 2006 @ 3:10 pm

[...] When Advance America began operations in 1997, Fulmer said, only 15 states had legislation enabling payday lending. Now, 37 states plus the District of Columbia have such legislation, he said, and legislation is now being considered by the Pennsylvania legislature. [...]

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