Banking and Insurance Committee to Consider House Bill 2191,
"Payday Lending" in Pennsylvania
The Senate Banking and Insurance Committee will hold a public hearing at
11 a.m. on Wednesday, September 19, in Hearing Room 1 of the
North Office Building. The hearing will focus on "payday lending" and
House Bill 2191, a measure that would regulate the practice, according to
Committee Chairman Senator Don White (R-Indiana).
HB 2191 provides for short-term loan protection in the state’s Banks and
Banking law (Title 7) and for deceptive or fraudulent business practices and
unlicensed short-term lending in the Crimes and Offenses law (Title 18).
"There has been significant interest in the issue of payday lending and the
lack of state regulations regarding that industry," Senator White said. "This
hearing will give the committee an opportunity to hear from a variety of groups
and individuals to define scope of this practice. The committee will then
determine what, if any, legislative steps are warranted."