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Advance America to pay consumers; Rite Aid acquisition, RTI International Metals reports gains

2015-02-12 07:48:59| Industrial Machines - Topix.net

The payday lender Advance America will pay consumers in Pennsylvania $8 million in restitution to settle claims that the company illegally provided payday loans, some with interest rates as high as 368 percent. The state attorney general's office said Wednesday that Advance America's "monthly participation fee" was actually interest so high it violated state law.

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