In a recent press release, the Pennsylvania Attorney General announced that settlements have been reached with Delaware and Florida lenders who made allegedly usurious loans to Pennsylvania residents.  In apparent support of the settlement, the press release cites the Third Circuit’s decision in TitleMax of Delaware, Inc. v. Weissman, in which an out-of-state lender unsuccessfully sought to enjoin the Pennsylvania Department of Banking from investigating loans made to Pennsylvania residents. … Continue Reading

The U.S. Court of Appeals for the Third Circuit recently ruled that the application of Pennsylvania usury laws to auto title loans made to Pennsylvania residents who travel outside of Pennsylvania to obtain such loans does not violate the Commerce Clause of the U.S. Constitution.  The decision could have significant implications for all providers of consumer credit whose operations involve cross-border lending.… Continue Reading