Minnesota Supreme Court upholds constitutionality of Minnesota’s payday financing law

Minnesota Supreme Court upholds constitutionality of Minnesota’s payday financing law

Out-of-state payday lenders will need to follow Minnesota’s lender that is strict for Web loans, their state Supreme Court ruled Wednesday.

The sides that are ruling Attorney General Lori Swanson, whom filed suit against Integrity Advance, LLC in Delaware last year. The business made 1,269 payday advances to Minnesota borrowers at annual rates of interest all the way to 1,369 per cent. Continue reading “Minnesota Supreme Court upholds constitutionality of Minnesota’s payday financing law”