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Philadelphia City Council Resoundingly Opposes Payday Lenders’ Latest Attempt to Gut Pennsylvania’s Intense Consumer Protections
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Solomon Leach, Communications Director
Workplace of Councilwoman Cherelle Parker
Kerry Smith, Senior Staff Attorney
Community Legal Services
Michael Roles, Field Organizer
PennPIRG (Pennsylvania Public Interest Analysis Group)
Philadelphia City Council Resoundingly Opposes Payday Lenders’ Latest Try To Gut Pennsylvania’s Strong Consumer Protections
Passes Resolution Urging Pennsylvania General Assembly to Safeguard intense State Cap on rates of interest and costs
Philadelphia, PA – prior to a forthcoming industry-backed bill to permit high-cost, long-term payday advances in Pennsylvania, the Philadelphia City Council took the initial step toward fending down their efforts by adopting an answer, contacting users of the General Assembly to oppose any such legislation.
For more than ten years, the out-of-state payday loan providers are trying to bring their predatory loans into Pennsylvania by lobbying for legislation that could eviscerate state caps on interest and costs for customer loans.