News

PA budget-related bill hung up over payday loans

Written by The Associated Press | Jul 3, 2013 5:27 PM
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(Harrisburg) -- A spokesman says state House Republican leaders will decide when to bring rank-and-file members back to Harrisburg after senators stripped a provision from a budget-related bill that they say the House inserted without their approval.

The Senate has voted unanimously to send the bill back to the House after stripping out a provision that suggests House and Senate Republican leaders support the legalization of high-interest "payday" loans in Pennsylvania.

Senate Majority Leader Dominic Pileggi says the statement is simply inaccurate and doesn't belong in legislation. Many consumer groups oppose payday lending.

House GOP spokesman Steve Miskin says he doesn't know who inserted the provision. The Philadelphia Inquirer reports a lobbyist for one payday lender organized a golf-outing fundraiser in February for House Speaker Sam Smith in Pebble Beach, California.

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Comments: 1

  • Serena Amber img 2014-11-03 12:19

    On one hand it’s good that Pennsylvania consumers now have wider choice of lending products. But on the other hand, they should use payday loans wisely. They are forbidden in some states because of very high interest rates and consumers’ complaints. Some cash advance lenders offer reasonable loan deals but there are many of those who are called loan sharks. I think that people should stay responsible even if they apply for a small loan for a few weeks. And also it’s important to deal with trustworthy lenders only, so avoid scammers and illegal lenders.

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