Their state is using aim at a business which was forced out of this pay day loan company in Pennsylvania but has returned with the same short-term, high-cost item.
Advance America, the country’s biggest payday loan provider, supplies a “Selection personal credit line” product which allows clients looking for fast cash borrow as much as $500.
Their state Department of Banking filed suit Wednesday contrary to the business, saying it gives personal lines of credit to borrowers without having a permit along with interest and costs that exceed just what state legislation enables. [Read more…]