Harrisburg, PA - Secretary of Banking and Securities Robin L. Wiessmann today announced the remaining $240,000 from a 2006 payday lending lawsuit has been distributed to four non-profit credit counseling services to help educate Pennsylvanians about financial planning and counseling.
“This funding will help more people get the tools and knowledge to make better decisions about their finances for themselves and their families,” said Wiessmann. “A strong sense of financial capability allows Pennsylvanians to build their financial independence.”
In 2006, the department filed a lawsuit against NCAS of Delaware, LLC, which did business as Advance America Cash Advance Centers, and Advance America Cash Advance Centers, Inc. for violations of the Consumer Discount Company Act. A restitution fund was created for the company’s customers. The Commonwealth Court is allowing the department and Pennsylvania Attorney General to distribute funds remaining after all eligible restitution was paid with four charitable organizations to educate and protect Pennsylvanians.
“I am pleased that our joint settlement with this payday lender will result in monies going to these worthy organizations dedicated to helping the consumers who are most in need of financial and credit counseling,” said Attorney General Josh Shapiro. “These distributions announced today by the Secretary of Banking and Securities will go a long way to helping consumers and their families get back on their feet financially.”
The four organizations each receiving $62,021 are:
- Tabor Community Services, Inc.
- Credit Counseling Center
- Advantage Credit Counseling Service, Inc.
- Consumer Credit Counseling Services of Delaware Valley d/b/a Clarifi
“These non-profits are geographically diverse, allowing for more citizens throughout Pennsylvania to be better equipped in their ability to manage financial issues and plan for their futures,” added Wiessmann.
Consumers can contact the department with questions about financial issues or to file a complaint at 1-800-PA-BANKS or online.
MEDIA CONTACT: Virginia Lucy - 717.214.4759
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