Any company that makes payday loans or other consumer loan transactions with customers in Pennsylvania, but has a physical address outside Pennsylvania, will be subject to state lending rules by early next year, the Department of Banking said today.
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Payday loan practices will extend to out-of-state companies (York Daily Record)
Financial NetSpend Corp., which provides prepaid card services, has agreed with payday lender QC Financial www.qcholdings.com on a prepaid debit card program.
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Netspend to work with payday lender (BizJournals)
Stephanie Vann used to rely on payday loans to cover her rent and summer camp for her three children. She felt ashamed and kept her finances secret. But the short-term, high-interest loans seemed to be her only option.
Continue here: Credit Unions Slowly Fill Void As Payday Lenders Leave D.C. (Washington Post)