Payday Lending Pioneer Convicted

Uploaded by Iluminada Getty on December 2, 2017 at 5:41 pm

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On Monday a Pennsylvania man considered a pioneer in the payday lending industry was found guilty of engaging in a racketeering scheme. The scheme helped fund businesses that generated $688 million from short-term loans to hundreds of thousands of people. According to prosecutors, Charles Hallinan owned and operated more than a dozen payday lending businesses. He was found guilty by a federal jury in Philadelphia on all counts he faced.

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