Monday, October 3, 2005

Pennsylvania Attorney General Shuts Down Payday Loan Website

By Roman Parchowsky
Payday Loan Writer

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. 

One Response to “Pennsylvania Attorney General Shuts Down Payday Loan Website”

  1. Payday Loan Times » Blog Archive » Advance America Confident About Future of Its Cash Advances Says:

    […] 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. […]

Leave a Reply

You must be logged in to post a comment.

  • No Faxing!
  • No Credit Checks!
  • Up To $1500!
  • Instant Approval!
  • Cash in 1 hour!