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A payday lending business violated Pennsylvania consumer law by providing loans of as much as $500 to people in return for 6 percent interest plus a $150 monthly fee, a state court ruled Tuesday. A St. Louis woman has filed a class action suit against Advance America, a major payday loan lender, accusing the company of predatory lending, according to a news release by Simon-Passanante P.C., a St. Louis law firm. A St. Louis resident has filed a class-action suit again Advance America, a major payday lender, accusing the company of predatory lending, according to a news release by Simon-Passanante P.C., a St. Louis law firm. The firm represents Cynthia Williams, the lead plaintiff, in this lawsuit, which was filed Monday. In the news release, the law firm said at the heart of the lawsuit is the allegation ... Payday advance lenders a risky way to get cash, CEO says. Shares of Advance America Cash Advance Centers Inc. plunged Wednesday after a state court ruled that the payday lender violated Pennsylvania consumer law and directed the company to suspend operations in the state. A payday lending business violated Pennsylvania consumer law by providing loans of as much as $500 to people in return for 6 percent interest plus a $150 monthly fee, a state court ruled Tuesday. A Commonwealth Court panel agreed with the Banking Department's claim that fees charged by Advance America Cash Advance Centers exceeded limits of the state's Consumer Discount Company Act. The Banking ... Payday advance lenders a risky way to get cash, CEO says. (PRWeb Aug 8, 2007) Post Comment:Trackback URL: http://www.prweb.com/pingpr.php/SG9yci1Mb3ZlLUVtcHQtSGFsZi1UaGlyLVplcm8= AAA Payday Cash, a specialty finance company that provides consumers with small, short-term cash advances until payday, today announced that it has opened a new store location in Springfield, Missouri. 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