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    Credit Counseling Center receives payment from pay day loan settlement

    Credit Counseling Center has announced that the organization received payment from a 2006 payday lending lawsuit along with three other non-profit credit counseling services to help educate Pennsylvanians about financial planning and counseling.

    “This funding will help more people get the tools and knowledge to make better decisions about their finances for themselves and their families,” said PA Department of Banking’s Robyn Wiessmann. “A strong sense of financial capability allows Pennsylvanians to build their financial independence.”

    In 2006, the department filed a lawsuit against NCAS of Delaware, LLC, which did business as Advance America Cash Advance Centers, and Advance America Cash Advance Centers, Inc. for violations of the Consumer Discount Company Act.

    A restitution fund was created for the company’s customers.

    The Commonwealth Court is allowing the department and Pennsylvania Attorney General to distribute funds remaining after all eligible restitution was paid with four charitable organizations to educate and protect Pennsylvanians.

    “I am pleased that our joint settlement with this payday lender will result in monies going to these worthy organizations dedicated to helping the consumers who are most in need of financial and credit counseling,” said Attorney General Josh Shapiro. “These distributions announced by the Secretary of Banking and Securities will go a long way to helping consumers and their families get back on their feet financially.”