Implode-o-Meter News - PA Payday Lending King Gets 14 Years; Used Sham Bank and Indian Tribe Partnerships

As more than a dozen states, including Pennsylvania, effectively outlawed payday lending with laws attempting to cap the exorbitant fee rates that are standard across the industry, Hallinan continued to target low-income borrowers over the internet.
He tried to hide his involvement by instituting sham partnerships with licensed banks and American Indian tribes so he could take advantage of looser restrictions on their abilities to lend. But in practice he limited the involvement of those partners and continued to service all the loans from his offices in Bala Cynwyd.

Guess sham Indian tribe partnerships are officially illegal now... hmmmm...

Relevant:

PA Payday Lending King Gets 14 Years; Used Sham Bank and Indian Tribe Partnerships