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A fresh payday lending bill ahead of the home Commerce Committee would threaten defenses for struggling Pennsylvanians.
The Commonwealth has among the strongest legislation in the united states to guard against predatory financing, by having a cap on charges and interest who has kept high-cost payday lenders at bay. Our legislation saves residents a lot more than $272 million each in fees that would otherwise be drained if payday lenders were allowed to operate here year. Nonetheless, a brand new home bill (HB 2429), “An work managing credit services,” would jeopardize those cost cost cost savings by opening the entranceway to predatory payday loan providers in Pennsylvania. Continue reading Lutheran Advocacy PA. Brand New Payday Lending Bill Introduced in Home