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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 ... More than forty payday advance stores operating in the District have come together to form the District of Columbia Financial Services Association (DCFSA). DCFSA will focus on working with the Washington, DC City Council to enact into law several key reforms to better protect payday advance customers and preserve a popular, well-regulated short-term credit option. These reforms include requiring ... The Community Financial Services Association of America (CFSA), the association representing responsible payday lenders, today demanded in a letter to the Washington Post editorial page editor, Fred Hiatt, that the paper issue a correction to the many factual errors and errors of omission in their 8/1/07 editorial opposing the industry. A Pennsylvania court has ruled that Spartanburg's Advance America Cash Advance centers violated consumer law in the Keystone State by providing people with loans of as much as $500 in return for 6 percent interest plus a $150 monthly fee. The court agreed with the state (ARA) - In the world of living paycheck to paycheck, unforeseen expenses create a very stressful situation. Whether the car breaks down, the water heater blows a leak or your dog needs emergency surgery from eating the hallway rug, finding a way to get out of the red gets harder every day. 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= Payday advance lenders a risky way to get cash, CEO says. Advance America's $150 monthly fee is ruled illegal. Valley has a number of centers. 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. 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. PRWeb provides a cost-effective way for entrepreneurs to promote their new products and services. It is often part of overall, strategic planning to help our clients increase awareness and sales and reach targeted audiences." - Melanie Rembrandt. For example, the real cost of a $100 loan could be as much as $400. 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