“lifted the ban last June 2012”
The state of Pennsylvania, one of the states that prohibit all kind of payday loans whether online or storefronts lifted the ban last June 2012, so residents looking for a short-term loan can apply for a loan with peace of mind once the senate approves the bill.
The ban against payday loans is the result of protest by various sectors that oppose the exorbitant fees that a lender charges their clients. However, after 2 years of prohibiting payday loans Pennsylvania once again allow lenders to provide their services to residents in need of financial solution fast.
The HB 2191 is a bill that lifts the restriction against payday loans that took effect sometime in 2010, and now made the loans accessible to all residents. By the way, the bill protects borrowers and so there is no reason to be afraid of payday loans because these types of loans can help salaried individual in need of cash.
The HB 2191 has restriction, which all borrowers must know before they apply so they can understand the loan process even more. Once the senate approved the bill, residents can enjoy borrowing from any payday lenders they want without worries, since they have protection against fraudulent act.
At present, the HB 2101 most passed final reading before payday loans become completely available to residents. Payday lenders can operate legally, when approved by the Senate and until such time, all types of payday loans are still prohibited.
Keep in mind that payday loans online are for everyone, even those residing in the state where there is a ban on short term, unsecured loans. When a resident of any of the 13 states, just visit a payday lender online to borrow money when you need one and still enjoy protection and simplified process, as payday lenders online operate from states that allow payday loans.Share