Payday lending pioneer convicted in U.S. of racketeering scheme. Why can I save yourself for a rainy time?
(Reuters) A Pennsylvania man considered a pioneer into the payday financing industry had been discovered responsible on Monday of participating in a racketeering scheme that aided investment companies that produced $688 million from short term installment loans to thousands and thousands of men and women.
Charles Hallinan, whom prosecutors said owned and operated significantly more than a dozen payday financing organizations, ended up being found accountable with a federal jury in Philadelphia on all counts he encountered. (mais…)