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Bankrupt by Design: Payday Lenders Target PA Performing Families

The Pennsylvania home authorized the payday financing bill on June 6. Browse KRC’s declaration.

Pennsylvania’s lending that is payday would move cash from principal Street Pennsylvania to Wall Street, while stifling financial protection in low-Income rural and towns

Overview

Pennsylvania includes a model legislation for protecting customers from predatory payday financing. Presently, state legislation limits the percentage that is annual price (APR) on tiny loans to around 24%. The Pennsylvania House of Representatives, nevertheless, is poised to take into account legislation that will considerably damage customer defenses against predatory payday financing, putting Pennsylvania families and jobs at an increased risk. Read more →

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