Pennsylvania Payday Loan
Although payday loans are illegal in Pennsylvania, you still have a right to educate yourself especially if the law changes. SameDayPayday offers detailed company profiles and user reviews of the largest lending institutions nationwide. If loans are not available in your state, our city links below will point you to local store offering other financial products and services such as check cashing and pre-paid debit cards. At this time, check cashers in your neighborhood are not allowed to make payday loans.
Payday Loan Laws in Pennsylvania
Per 63 Pennsylvania statute Ann. § 2325, payday loans are prohibited. Small loans are allowed but interest is capped at $9.50 per $100 borrowed and a maximum service charge of $1.50 per $50 each year, up to $150.
Currently, there are no payday loan centers in the state of Pennsylvania. That is, physical locations- but as for online, in an internet search early 2009, “payday loans Pennsylvania” turned up 462,000 hits!
You are no doubt aware that in the state of Pennsylvania payday lenders are banned from operating within its borders. The state motto of Pennsylvania is: “Virtue, Liberty and Independence” but the laws do not seem to offer liberty or freedom from your emergency financial need. Lending institutions continue to be a part of an active and shifting legal landscape. On one side cash advance lobbyists want to ensure your right to short-term loans; on the other side opponents are working just as hard to keep the law as it stands now to protect residents from in the “The Keystone State”.
To file a complaint or get more information regarding Pennsylvania payday loans, visit the PA Department of Banking
or call toll-free (800) 600-0007
Pennsylvania Payday Loan - Cities