Tuesday, July 12, 2005

Republic Bank, Advance America Part Ways

By John Mitsuda
Payday Loan Writer

Louisville, Kentucky — Advance America, of Spartanburg, S.C., announced last week that it had terminated its marketing and servicing agreement with Louisville’s Republic Bank & Trust Co. and struck a new pact with First Fidelity Bank, of South Dakota.

Republic had a three-year relationship with Advance America, which has six outlets in Louisville and Southern Indiana. Republic doesn’t plan on leaving the payday loan industry, but rather will offer a web product. If successful, Steve Trager, Republic’s chief executive, says the payday advance program will be expanded nationwide.

« Advance America Case Returns to North Carolina Commissioner
Another Payday Loan Viewpoint »

This entry was posted on Tuesday, July 12th, 2005 at 11:31 am and is filed under South Dakota, South Carolina, Kentucky.

One Response to “Republic Bank, Advance America Part Ways”

  1. Payday Loan Times » Blog Archive » Republic Bank and Trust Ceases Payday Loan Practices Says:
    March 2nd, 2006 at 3:07 pm

    […] The Federal Deposit Insurance Corp. is at it again. The company has pressured Republic Bank & Trust Co. to get out of the business of payday loans and cash advances. […]

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