The passing of Dodd-Frank Act under the Obama government came as a blow to banking and financial services industry, especially to e-payday loans online in 2010 after the recession. Because of which the compliance burdens were created which made it difficult for the U.S. companies to compete with the foreign counterparts.

The banking and financial services are all set to benefit from the Trump rule. Finally, there is someone from the business side to look at the financial soundness and implications of the decisions on the business world. The unbelievable victory of Trump over Clinton has resulted in the key branches such as legislative and executive under the Republicans. Democrats and Ex-President Obama were not in favor of few regulations which will now be controlled by Republicans.

As is already known that Trump has been relatively quiet on his plans for banking policy, but he has already mentioned he wants Dodd-Frank act should be dismantled. Also, not only the act but much of the financial regulatory structure could be turned upside down, says Justin Schardin, the director of Bipartisan Policy center. Additionally, a lot of that decision also rests on who would be nominated for vacant positions of Federal Reserve, the Federal Deposit Insurance Corporation (FDIC) and Treasury Department.

What is financial regulation plan of Republicans?

Republicans already have a blueprint of the financial policy they would want to follow regardless of the Trump nominees. The mentioned blueprint is Financial Choice Act which seeks to undo many major provisions of Dodd-Frank.

The Director of financial regulation studies at Cato Institute, Mark Calabria is certain that Financial Choice Act will come back in next congress. This act was introduced by Representative Jeb Hensarling, who leads House Financial Services Committee. Calabria says that the bill is as is very comprehensive but some points; including community banking relief could likely pass.

A longtime industry representative who asked not to be named feels that the Financial Choice Act would yield significant benefits for banking. Also, he thinks that the largest financial institutions would get relief with the provisions to repeal the Durbin amendment and Volcker rule.

The Consumer Financial Protection Bureau (CFPB) funding and structure is likely to be reformed by Hensarling bill. CFPB is frequently lambasted by Republicans to make it less powerful.

Are these the best odds for community banking relief?

Well, Under the Trump leadership community and regional banks have the best odds of regulatory relief. Some prominent banking position holders think so. According to Paul Merski, the executive vice president at Independent Community Bankers of America, having the same party in control of congress as well as White House predicts that community banking relief will get passed. Also, he thinks that there is a better scenario for legislation to move through entire congress and get signed by president into the law.

The similar sentiment is echoed by Senator Mike Crapo heading the powerful Senate Banking Committee. As he hails from Idaho, a state far away from Wall Street, he is widely expected to back the legislation that would benefit smaller institutions.

Additionally, few Democrats including Senator Sherrod Brown from Ohio who is the ranking member on the Senate Banking Committee have embraced the idea of providing regulatory relief for community banks.

All in all future of the banking sector as well as financial services industry seems brighter. It will help the e-payday loans online to compete with their foreign players fairly without the legislative burdens the current financial policy imposes on them.

As things stand right now, there are millions of American consumers who have subprime credit scores, or bad credit. If you are one of those folks it may be tempting to believe that you have to simply deal with your low credit score, until it starts to improve over the years. There are, however, some steps that you can take to improve your credit score a little faster. One of those things is – believe it or not – getting a new credit card.

Most people know that they have to use lines of credit and make prompt payments to improve their credit scores. Some of these people also believe that they have to settle for whatever terms credit card companies offer them. In other words, people with bad credit often settle for bad credit cards. This is not the way that you should handle the process of rebuilding your credit score. Just because you’ve had credit problems in the past that does not mean you have to settle for a credit card with terrible terms.

Here are some things you should look for when opening a new credit card when your credit score is low:

Make sure it is a card that will improve your credit score!

People often get new lines of credit, use the credit properly and pay their bills on time and then they find that the account activity is not even being sent to the credit bureaus. That is like doing a lot of hard work and never getting any kind of payoff. Check with credit card issuers to make sure the card you apply for reports activity back to the major credit bureaus, like Equifax, Experian and TransUnion. You don’t want to spin your wheels on cards that won’t help you rebuild your score, so don’t waste your time applying for any credit card that doesn’t provide you with this perk.

Choose a Credit Card with Affordable Fees

Many times, people with bad credit wind up stuck with credit cards that charge expensive fees. The last thing you want to do is pay too much for the card you use regularly. Look for a credit card with no annual fees. If you cannot get one, then don’t pay more than $30 or so for a secured credit card. If you have bad credit, expect balance transfer fees to be between 3 and 5 percent. Don’t use a credit card for balance transfers if the cost is any more than 5 percent. And look out for “extra” fees. Some credit card companies try to hit consumers with maintenance fees, processing fees and other added costs that you simply shouldn’t have to pay.

Move from Secured to Unsecured

Many people with lower credit scores find that they have to start off the process of rebuilding their credit by opening secured lines of credit. This is sometimes a necessary evil, but if you have had a lot of problems with credit in the past, you may have to use a secured card for a while. Make sure, though, that the secured card you choose to open lets you graduate to an unsecured card in the future. When you open a secured credit card, you have to pay a deposit. The ideal credit card in this type of situation would allow you to open the account, check your credit activity for improvements over time and then to get your deposit back as you progress to an unsecured account. This can be a confusing process, so you may want to speak with a customer service representative to make sure this option is available to you.

Keep these tips in mind as you work toward building a higher credit score and a more promising financial future.

Proposed Payday Lending Restrictions will likely cause harm to Lower Income Households
If you read articles written by most mainstream writers or listen to election speeches from “progressive” candidates, you’ll probably find out that most of these folks detest payday loans. You’ll hear a lot about “cycles of debt”, “high interest rates” and lenders that are “predatory.” As it usually turns out with these sorts of things, most of the information you get is nothing short of hyperbole or click-bait. And here’s what some of these so-called “experts” and “consumer advocates” are not telling you: The latest batch of proposed payday lending regulations will probably cause a lot of grief for lower income households.
The bandwagon against payday loans has reached such a boiling point that Google has removed all ads for payday loans from its popular online ad network. This is the same Google that has no qualms about running ads for any number of scams, including tons of weight loss “miracle” systems that usually turn out to be nothing but snake oil in disguise. But the search engine/advertising giant has decided to toe the line when it comes to payday loans, by flat out banning ads for these popular types of loans.
With all of this going on, it should come as no surprise that the Consumer Financial Protection Bureau has finally come forward with the new regulations on the payday loan industry that they have been threatening for the better part of the last year. All of the groups, individuals and institutions that are opposed to short term loans have been overjoyed about the new rules. But a huge group of people (according to some studies, more than 12 million American households) are not going to be doing any celebrating if these proposed regulations wind up becoming federal law.
While the CFPB is not actually banning payday loans, the main idea behind the crafting of the new rules is to force lenders to make sure that all borrowers are able to pay back their loans on time. So, what’s wrong with that? Well, even though some people may not like payday loans that does not mean that these loans do not help people. As we said, nearly 12 million people rely on these loans during any given time of the year, and that number may actually be increasing.
It is easy to believe that the majority of payday loan customers are people who have no access to mainstream credit. However, as more people find that their pay schedules at work don’t exactly jibe with their financial needs, more people may require payday loans to help them get through in between pay periods at work. In fact, some big financial investors are investigating ways to offer payday loan-like products and services to everyone who is gainfully employed. Even Uber is getting in on the game, by announcing company plans to allow their drivers to get payday advances of as much as $1,000. And other new offerings may soon be coming that allow employees to get payday advances through cooperative efforts with their employers and new lending methodologies.
Here’s what it comes down to: For all of the “progress” that the CFPB is offering, they may be a day late and a dollar short. Just like other government initiatives in the past, this crackdown on payday lending may be another case of the federal government attempting to introduce regulations to an industry that is already on the cusp of great changes. And to make matters worse, the regulations will probably limit access to lines of credit to lower income people, right when those same loans begin to become more accessible to just about everyone else.
Make no mistake – the regulations will cause people to go without. The CFPB says that by increasing lenders’ costs, they would reduce the total dollar volume of payday loans by more than half. So where will all the money that would have normally gone to borrowers go? Could be that those dollars will wind up in the wallets of borrowers who lenders are able to identify as being less of a risk. Kind of sounds like a case study of poor/lower income households being marginalized and punished, doesn’t it?

dollar-squeezeSometimes the regular pay check just doesn’t stretch as far as it should. Many times we find ourselves staring at an unexpected expense, without enough money in the bank to pay for it. It’s just these types of situations that lead many people to go online to take out payday loans. If you suspect that you need to get some fast cash in the bank, and plan on taking out a payday loan to get that money you are currently in need of, this post should help you to sort out all the facts to make a smart choice for your upcoming online borrowing needs.

Your Payday Loan is an Unsecured Loan

Not all loans are created equal. For example, some loans are secured loans. This means that you have to offer your personal property – vehicles, homes, etc… – as security on your loan. When you take out an online advance cash loan, however, you are getting what is called an unsecured loan. You don’t have to put your property on the line as collateral for these types of loans. Since most payday loans are smaller than the traditional bank loans that you might be familiar with, there is no need for you to offer up any security to your lender.

Cash Loan Bad Credit FACTS

Bad credit can be a hindrance to you in many areas of life. There are even some people who are finding that they can’t land their dream jobs because their potential employers won’t even hire new employees with low credit scores. You can breathe easy when you apply for an online payday loan, though, because lending companies do not require you to submit a credit check. To make a long story short, your lower credit score will not stop you from getting loan approval online.

Advance Cash Loan: Cash Loan Review Websites

You must be careful when using online reviews to find your advance cash loan. There are many loan review sites that are nothing more than advertising portals for popular lenders. We take a different route on this website and offer you the ability to submit your loan request to a large network of lenders. Every lender in this network is known for offering professional lending services to their clients. If you have any doubts about the lenders you find on those review sites, you’ll be glad to know that you only work with the top lenders when you apply for your loan here.

How Much Can You Borrow on a Payday Loan?

You can borrow between $100 and $1500 when you take out an online cash loan. Choose wisely to get enough money to take care of expenses without overextending your bank account too much on your upcoming payday.

When Should You Pay Back Your Payday Loan?

Advance loans, like other loans you take out, should always be paid back on time. You should pay back your online lender two weeks after you receive your loan money. This allows you to avoid accruing extra debt and prevents additional loan fees form kicking in.

Here’s your direct line to a successful payday loan online

You are now aware of some very important facts about finding a lender and getting an advance loan online. When you get your loan money you can use it to pay for any expense that you want to pay for. Your payday lender will never ask you to justify why you need to borrow money. And you can actually get the loan process going right now by filling out the secure, online loan application form that is located on this very website. This is your fast, secure portal to the best payday lending companies doing business today.

It has been about five years since the Consumer Financial Protection Bureau (CFPB) officially began. From its lackluster early years to its recent promises to “reform” the financial industry, this organization has not been a stranger to controversy. The group is looking to ramp up its efforts to implement changes to the financial industry even more in the future.consumer-financial-protection-bureau-logo

According to the Director of the CFPB Richard Cordray, “By pursuing the goals of evenhanded oversight, appropriate law enforcement, fair rules, expert research, and broad-based consumer education and engagement, we have been working to restore trust and confidence in the markets for household financial products and services. As we do that more and more, we can see that we are succeeding in delivering tangible value for consumers.”

Cordray promises that the CFPB will use these objectives to form a foundation for the future, and has set up nine steps the bureau will stick with in order to do so. Cordray went on to explain, “They are statements we are making about particular outcomes in particular markets that we want to drive toward fulfilling, rather than descriptions of what tools we plan to use. So strategy starts with what we want to see in the marketplace, which then can guide us in selecting the tools most appropriate for the task.”

Here is an overview of the nine steps the CFPB plans on using:

Commenting on the big picture created by these nine steps Cordray said, “As we look ahead and work toward the primary goals we have set for ourselves, I believe these are also important characteristics of our work together at the Consumer Bureau.”

On paper, all of these steps sound reasonable, and even positive. However, it remains to be seen if Cordray and his staff can pull these things off without placing undue scrutiny and penalties on some service providers. Can this organization effectively “overhaul” the financial industry without forcing some financial service providers out of business, and creating financial vacuums in the marketplace that would effectively leave consumers with fewer choices on how to handle their money? The answers to these questions will become more apparent as this organization continues to do what it does. As this happens, though, we all have to wonder whether or not the CFPB has consumers and providers best interests at heart or if it is using its nine step plan to further its own agenda and that of the current presidential administration.

Man-standing-at-lighted-door-within-green-matrix-postAlabama recently put a new database into action that helps the state to track payday lending. According to this database, over 462,000 payday loans, for a total of $146 million were processed over a ten week period. The group that tracks this activity, the Alabama Banking Department, started tracking payday loans back in August, after being victorious in a court battle to create the database to help enforce existing regulations that put a $500 cap on payday loans for consumers at any given time. The numbers collected so far help to provide an inside look at how much money consumers borrow from payday lending companies in the state of Alabama.

One “consumer advocate” who has petitioned for more regulations on payday lenders, Shay Farley, said, “Anyone, who looks at these numbers, I challenge them not to have their eyes opened because it is shocking,” with regards to the information from the state database. Those who are critical of payday lenders say that the state should take additional actions to provide additional protection for borrowers from what they describe as a “debt trap.” Representatives of the payday lending industry, however, say that the numbers provided are proof positive that the payday lending industry is already on a decline because of the increased regulations that have already been put into place.

When consumers take out a payday loan, they pay a flat fee – usually around $15 for every $100 that they borrow – and then pay the loan principal plus the fees back in about 10 to 14 days. Those who are critical of the payday lending industry have argued the borrowers wind up trapped in debt because they take out multiple loans to pay off their initial payday loans. According to Farley, the people of Alabama are well “ahead of the curve” with regards to payday loan usage.

The state of South Carolina, which has a population similar to that of Alabama, along with similar loan limitations, processed about one million payday loans the entire fiscal year of 2014. The state of Washington, processed just over 871,000 payday loans the same year. Farley went on to describe her opinion about these differences, saying, “In other states that have moved for reforms, there has been no rioting in the streets to bring back payday loans.” Again, however, payday lending industry insiders have countered that statement by saying that the numbers prove that people desperately need the financial services that payday lending companies offer, and that the industry itself is taking serious hits because of the new regulation.

Max Wood is the owners of several Cash Spot stores in Alabama cities. Wood says that figures he has been privy to show that about 300,000 people take out payday loans in Alabama. According to Wood, “There is no other choice for those 300,000 people for all practical purposes. Wood went on to argue that Alabama was not out of line with regards to citizens’ usage of payday loans, and that the numbers revealed by the database were not surprising in the least to those who really understand the industry. It looks like the public fights about payday lending in Alabama are not going to slow down any time in the near future. However, those consumer advocate groups need to realize just how much lower income people depend on these loans in the great state of Alabama, and that new regulations need to balance compassion with common sense in order to be truly effective for all parties involved.

10260485-fast-payday-loans-guaranteedSome people and organizations out there want to get rid of payday lending companies altogether. These critics consider short term, small dollar loans to be predatory. Other folks simply consider payday loans to be yet another financial product available to provide people with a line of credit. Payday loans can get passionate responses from both sides of the fence, but no matter how you slice it, people should have the right to take out these types of loans in a free society that is based upon capitalism, like ours.

Payday loans were originally created to provide a less stringent financial alternative to help people who are having immediate financial issues, need fast access to money, and may not have access to lending services from mainstream banks and credit companies. People routinely use these types of loans to take care of expenses when they simply don’t have enough money in the bank or on hand to deal with pressing, perhaps unforeseen expenses. The majority of payday lending companies require their customers to have steady income, bank accounts and to be at least 21 years of age. Payday lenders even routinely skip on using Social Security numbers when processing loans. Why is it, then, that so many people are opposed to the payday lending industry?

People who are up on their soapboxes with regards to payday loans often cite that these loans force borrowers to pay very high interest rates and that the loans themselves are just plain predatory in nature. The Consumer Financial Protection Bureau released a report in 2014 that stated that 58 percent of all payday loan customers receive government assistance. This fact would almost lead someone to believe that payday loans add to the financial difficulties that these people face, if it weren’t for the other facts that are not being taken into consideration.

unsecured-debt-consolidationWhat these payday loan opponents are not bringing to the table, however, is the fact that people have a very difficult time getting approved for loans. Loan approvals are not only complicated for people with bad credit scores and lower incomes, but they are even hard to get for people who are flush with cash and who have higher credit ratings. The banks have increased the stringency of their approval processes and they have prevented millions of people from getting loans, and made it difficult, at best, for millions of other borrowers. In a nutshell, this increased scrutiny on the part of mainstream lenders has made getting access to emergency cash an impossibility for millions of unbanked and underbanked households in the United States.

Our economy, at its most basic level, is built on the philosophy of supply and demand. In a free market, businesses are created to help fill the demand of customers. Since the late 1990s, the use of payday lenders has increased over 500 percent. This industry now brings in about $50 billion annually. Of course, this just goes to show that the demand is there. Why is it, then, that there are so many government watchdog groups that are hell bent on getting rid of the companies that supply a service to so many people? And doing so under the guise of protecting consumers to boot??

The people who take out payday loans are not doing so blindly. The lenders are not using predatory lending practices. At the end of the day, people need access to money for emergency expenses. If they cannot get this access via mainstream banks, then they need alternatives. The CFPB and federal government simply have no business making it more difficult for these consumers to get access to lines of credit when they need them the most.

The Consumer Financial Protection Bureau (CFPB) has taken new steps to introduce stiff legislation on smaller dollar lending companies, better known as payday lenders. Just recently, the government watchdog group made an announcement that they were proposing new rules that lenders would have to follow. These rules revolve around borrowers having the ability to pay back any loans that they take out, and the lenders would have to be the ones to make sure consumers are able to make timely payments. The CFPB also proposed a new rule that would that would limit the collections actions lenders can use for any fees that are “in the excess.”

“Today we are taking an important step toward ending the debt traps that plague millions of consumers across the country,” said the director of the CFPB, Richard Cordray. “Too many short-term and longer-term loans are made based on a lender’s ability to collect and not on a borrower’s ability to repay. The proposals we are considering would require lenders to take steps to make sure consumers can pay back their loans. These common sense protections are aimed at ensuring that consumers have access to credit that helps, not harms them.”

This announcement has caused a bit of a tongue wagging in recent days, though some folks seem to be reacting positively to the proposals. The editors at the New York Times ran a story with the headline of: “Progress on Payday Lending” as a way to chime in on the proposal from the CFPB. The Washington Post also chimed in, with an article that said, “Payday lending is ripe for rules.”

“If you lend out money, you have to first make sure that the borrower can afford to pay it back,” said President Obama with regards to the new rules. “We don’t mind seeing folks make a profit. But if you’re making that profit by trapping hard-working Americans into a vicious cycle of debt, then you got to find a new business model, you need to find a new way of doing business.”consumer-financial-protection-bureau-logo

Nobody wants to see Americans caught in these supposed ‘debt traps’ however, the rhetoric that supporters of the CFPB’s proposals use is obviously crafted to get people behind these new rules. It really comes down to certain folks in the government and in watchdog organizations that have decided to wage what they believe to be a righteous war against payday lenders. Being as most people, even the highly educated folks out there, really don’t understand how the payday lending industry works, it is easy to see how opponents of the industry are able to get people all riled up.

A recent piece in the New York Times reported that the proposed rule changes would only affect a billion dollar industry that ‘serves the working poor’ of this country. That is s common, though misleading view of the payday lending industry. A recent study found that 80 percent of people who take out short term loans make more than 25 thousand dollars a year, and that nearly 40 percent make more than 40 thousand dollars a year. Only around 18 percent of regular payday borrowers bring in less than 25 thousand dollars per year. That 18 percent is what most people envision when they are told about the plight of the ‘working poor’ in the United States. Seeing as how this group really only accounts for a minority of the people who take out payday loans, it is easy to see how the CFPB and its supporters are skewing the facts to tug at peoples’ heart strings. The fact of the matter is that most borrowers are able to pay back their loans, aware of the fees that they will pay and responsible enough to make their loan payments on time.

With Obama being one of the biggest cheerleaders for the CFPB, it looks like everyone will have to watch this bureau get their way for some time to come. But what price will people pay in order to give this organization even more power than it already has?

Financial times have been difficult (at best) over the past decade. From steady unemployment to a shaky investing outlook, people have been more worried about finances in the recent past than they have ever been before. Times have even been tough for providers of alternative financial services. With the DOJ using Operation Chokepoint to crack down on small dollar lending companies and check cashing facilities, the providers of alternative financial services have had to fight tooth and nail in order to assist the nearly 70 million people who are either underbanked or completely unbanked.

LA_at_dawnFor anyone who has been keeping tabs on things, the battle that non-bank financial service providers have had to go through, going all the way back to when the Comptroller of Currency set out on a mission to outright ban short term, small dollar loans from dispersing funds via big bank branches. While the office of the Comptroller obviously had their own agenda and job to do, with regards to taking a stance on the shady practices of SOME payday lenders, they certainly made life difficult for the legitimate short term lending companies too. Unlike what we’ve seen in recent years, with the rise of Operation Choke Point, it is easy to see that the past actions of the Comptroller’s office were not necessarily an attack on payday lenders, but rather was a step to prevent states from regulating national banks. Whether alternative financial service providers like what the Comptroller did or not, their policy was put in place to protect the interests of the entire national banking industry.

However, things could have been handled different with regards to thinking about the people who regularly take out payday loans or use other alternative financial services. Banks should actually do what they can to encourage small dollar lending, check cashing and other financial services that are regularly used by millions of people all across this land. The banks could do a lot of good, not just by encouraging these types of loans via third party lenders, but by directly offering these types of services to low and middle income customers who regularly make use of the services of both online and local alternative financial service companies.

There is a huge market out there for these types of financial services. Let’s take a look at this industry to better gauge just how huge this market is. According to information from the FDIC’s National Survey of Unbanked and Underbanked:

Families that bring in less than $30K every year account for over 70 percent of the underbanked households in this country.

With these stats in mind, it should be apparent to the powers that be that there is a desperate need that mainstream financial service providers simply cannot meet at the present time, and millions of families out there who depend on the money that they can only get through payday lenders and other alternative financial service companies. Until the national banking industry can step up to the plate and offer these types of services to the millions of people who need them the most, it is in the government’s best interest to stop persecuting small lending companies, but instead to start encouraging them to be able to provide the unbanked and underbanked people of this country with the financial services they so desperately need to get by from week to week.

 

Pennsylvania is one of a handful of states that actually has laws to prohibit payday lending. But despite the best efforts of the state, many people living in Pennsylvania are still able to take out payday loans via online lending sites and other companies that have ties to lending companies on nearby American Indian Tribal lands. The state seems to be fit for a fight, though, as new lawsuits are being filed to help the state of Pennsylvania crack down harder on payday lending companies that are offering services to the people of this state.

Case in point – the recent lawsuit filed by the state attorney general against a Texas-based lending company for allegedly scheming Pennsylvania citizens via an online payday loan scheme. The Attorney General of Pennsylvania, Kathleen Kane, recently announced that her office filed this suit against Think Finance Inc., a company that backs quite a few payday lending companies, like RISE Credit, for violating Pennsylvania laws and targeting borrowers in Pennsylvania to take out expensive payday loans.

The lawsuit alleges that Think Finance used the sway of three Native American tribes to allow them to target consumers in the state of Pennsylvania and to sell those customers alternative financial products (i.e. payday loans.) The tribes, which supposedly served as a cover for the lender, made it possible for Think Finance to bring in earnings through the many financial services that it charges to the actual tribal affiliations.

According to the complaint, this is not the only time that Think Finances has engaged in these types of covert lending actions in order to get around the state’s tough payday lending laws. It has been previously reported that the company was involved in a “rent-a-bank” scheme in which it made use of a Philadelphia bank to cover for the provision of small dollar, high interest loans to consumers in the state. This operation was actually shut down by the federal government not too long ago.

The Attorney General’s suit also named Selling source LLC – the company that backs MoneyMutual – as a defendant in this lawsuit because this company allegedly played an active role in the actions of Think Finance. It is alleged that MoneyMutual’s website and TV commercials – those famous spots with Montel Williams – have been used to generate online leads for Think Finance backed loans, and that MoneyMutual received commissions for these leads.

The lawsuit also claims that Selling Source continued with its efforts to refer Pennsylvania consumers to Think Finance after the company was ordered to cease the referrals back in a 2011 agreement with the Pennsylvania Department of Banking.

Other defendants named in this lawsuit were several debt collection agencies, including the Washington law firm of Weinstein, Pinson and Riley and National Credit Adjusters LLC, which were supposedly used to collect on the debts initiated by the illegal loans provided by Think Finance.

All of the defendants are currently accused of violating multiple Pennsylvania laws, including but not limited to violations against the Unfair Trade and Consumer Protection Law and the Fair Credit Extension Uniformity Act. The lawsuit is seeking restitution for all the consumers who were taken in by this scheme and there will also be some civil penalties handed out of up to $1,000 for every violation of state laws and $3,000 for every charge that involved lending/debt recovery to senior citizens in the state. It seems that Pennsylvania is very serious about taking action against short term lenders and that payday lending companies may want to think twice before trying to offer any such financial services in this state.

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