Advance America Lending Bank to Cease Payday Loan Lending
After rumors that Advance America would be forced to put a halt to its payday lending in Pennsylvania, an agreement on the matter has finally been reached: its lending bank will stop its payday loan originations at 101 centers in Pennsylvania later this month.
The Spartanburg-based company says BankWest Incorporated will stop offering the services after March 27. Advance America handles payday cash advances and installment loans for BankWest.
The company, however, will service outstanding advances and loans through August and has no plans to shut down its centers in Pennsylvania. It's exploring other banking options in that state for its payday loan services.