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State News: Pennsylvania
Legislation
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Mortgage Bankers and Brokers and Consumer Equity Protection Act
Law number: Act No. 55 of 2001
Enacted: 06/25/02
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Philadelphia Prohibition Against Predatory Lending
Law number: Chapter 9-2400 of The Philadelphia Code
Overturned/Preempted
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An Act defining "payday loan" [...] and providing for prohibition against payday loans
Bill number: S.B. 101
Proposed: 11/22/05
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Pending
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An Act amending Titles 7 and 18 [...] providing for unlicensed payday lending
Bill number: HB 1478
Proposed: 05/02/05
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PDF Full Text
Pending
Sign-on Letter: CRL and other groups support SB101, oppose HB 1478 (pdf) Letter: NAACP Chairman Bond thanks PA Gov Rendell for supporting a ban on payday lending (pdf)
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The 2007 Defense Authorization Bill includes an amendment mandating a 36% rate cap on loans to service members. More >
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