The state Supreme Court has found that an out-of-state lender that issues payday loans to Pennsylvanians via the Internet without a license is in violation of state law.
Justice Max Baer wrote for a six-justice majority, with Justice Thomas G. Saylor concurring in the result. The justices upheld a Commonwealth Court ruling that Cash America Net of Nevada, which has no offices or personnel physically located in Pennsylvania, violated the state’s Consumer Discount Company Act, or CDCA, by issuing payday loans to Pennsylvania citizens through its website without a license from the state’s secretary of banking.
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