Advance America Case Returns to North Carolina Commissioner
By Roman ParchowskyPayday Loan Writer
Raleigh, North Carolina — The case against Advance America, a major payday lender, will go back before the State Banking Commissioner Monday. Attorney General Roy Cooper said the lender is violating North Carolina’s consumer finance laws. Advance America is the largest payday loan company in North Carolina, with over 100 stores statewide.
The state has not sanctioned payday advances since a law expired in 2001. However, some companies have maintained payday lending by working with out-of-state banks.
March 13th, 2006 at 1:51 pm
[…] Asked for comment, aan Advance America spokesman said, “We feel comfortable operating under existing state law.” He declined to say whether the company preferred the S.C. law to the Florida law. « Study Reveals Majority of Payday Loan Lenders are Unlicensed or Unregulated Will Payday Loan Firms Expand in Mississippi? » […]