Pennsylvania: 63 Penn Stat. Ann. § 2325

Maybe people ask about payday loans. Is it legal? How much will it cost? How to get it?
The second state for today is Pennsylvania state..

Pennsylvania State Information

Legal Status: Prohibited

Citation:
Check cashers are specifically prohibited from making payday loans. 63 Penn Stat. Ann. § 2325. Otherwise, Consumer Discount Company Act applies. 7 Pa. Stat. Ann. §§ 6201 et seq.

Small Loan Rate Cap
$9.50 per $100 per year interest, plus service charge of $1.50 per $50 per year, up to $150 if interest discounted.

Where to Complain, Get Information:
Regulator: Pennsylvania Department of Banking
Address: 17 N. Second Street, Suite 1300 Harrisburg, PA 17101
Phone: (800) 600-0007

Regulator Website: http://www.dobs.pa.gov/Consumers/Pages/File-a-Complaint.aspx#.VDR-kSldXfk

See also: http://easyloansusa.net/pennsylvania/ get payday loan in Pennsylvania

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