Payday Lending

PA Bill Would Legalize Payday Loans

The alternative is giving loan sharks a free hand

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A Pennsylvania state senator is trying to legalize high-cost, short-term loans, commonly known as payday loans, just a year after a similar bill stalled in the legislature.

Sen. Pat Browne, R-Lehigh County, introduced Senate Bill 975 on Friday. The Harrisburg Patriot-News reported that Browne's legislation offers an avenue for borrowers to earn their way to longer-term, cheaper loans— something that was not included in the bill that passed the House but not the Senate last year.

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