Thursday, February 12, 2009

Payday Loans and Free Choice Abused By GA, NH Lawmakers

Georgia payday loans class action settled

Payday loans should work for all. But a recent press release from Advance America today announced that they have settled a class action lawsuit in Georgia that resolves all claims against them in connection with any payday loan transactions in that stat e. Operations in Georgia had been suspended in 2004, to their detriment.

Tom Newell, the company’s VP of Legal and Regulatory Affairs, said this regarding the settlement:

We will continue to aggressively defend our products and services against these types of claims. However, a settlement like this one makes good business sense and brings value to our stakeholders by assuring certainty of outcome and eliminating continuing legal costs in a geographic market where we no longer conduct business. We are pleased to have reached a favorable result. ... click here to read the rest of the article titled "Payday Loans and Free Choice Abused By GA, NH Lawmakers"

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