Pennsylvania Attorney General Josh Shapiro on July 24 announced a settlement with Think Finance, a national online payday lender, and an associated private equity firm for allegedly engineering a $133 million illegal online payday loan scheme that targeted as many as 80,000 Pennsylvania consumers.

According to a statement from Shapiro’s office, the settlement will void all remaining balances on the illegal loans. Pennsylvania is one of the leading creditors that negotiated this comprehensive settlement with Think Finance as part of its bankruptcy plan, which is pending approval before the U.S. Bankruptcy Court for the Eastern District Court of Pennsylvania.

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