Payday lending pioneer indicted in U.S. on racketeering charges

[Eugene]

Source: Reuters

A Pennsylvania businessman considered a pioneer in the payday loan industry was indicted on Thursday for engaging in a racketeering scheme, as part of a wider U.S. crackdown on abusive lending practices.

Charles Hallinan's payday lending businesses generated more than $688 million from 2008 and 2013, according to prosecutors. He was charged in an indictment filed in federal court in Philadelphia for conspiring to violate federal racketeering laws.

The indictment also charged Wheeler Neff, a Delaware lawyer whose clients included Hallinan, and Randall Ginger, a Canadian citizen who was a hereditary chief of the Mowachaht/Muchalaht First Nation in British Columbia.

Hallinan, a resident of Villanova, Pennsylvania, and Neff, 67, are expected to appear in court in later on Thursday, a spokeswoman for U.S. Attorney Zane Memeger in Philadelphia said. Ginger, 66, will appear at a later date, she said.

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Read more: http://www.reuters.com/article/us-usa-paydaylending-idUSKCN0X42FF

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World | Thu Apr 7, 2016 2:03pm EDT
BY NATE RAYMOND

[ish of the hammer]

1. I wonder if this guy is in Debbie W. Schultz's rolodex as a contributor.

[NCjack]

7. Hillary and Barack remain silent on her cosponsoring of bill to allow pay check

lenders to rob the poor.

[PatV]

18. Yes. I noticed that. But they do endorse her campaign. So, whatever I guess.

[Skwmom]

11. It doesn't seem like he was donating to the right people (or maybe not enough). n/t

[Ferd Berfel]

12. wouldn't you LUV to get at that rolodex

Bet Tim C want's to know too!

[Mr.Bill]

15. No way.

He's probably listed under "advisor".

[Sunlei]

2. "1997-2013, issuing loans with annual interest rates often exceeding 700 percent" !

[florida08]

3. oh is this the guy

Debbie Wasserman Crook is defending?

[lastone]

4. Wassermann?

Perhaps she'll be snared in this net as well. How anyone can say that payday lending is a good idea is beyond me.

[litlbilly]

10. If those people who need those loans made more money, aka, $15 an hour min, maybe they wouldnt

need a 700% payday loan shark loan. I'm not even sure if actual loan sharks charge that much.

[Ferd Berfel]

13. Bernie's solution

let the USPS do it and close DWS friends

[PSPS]

6. Please enlighten us all on how you would like "someone to prey on them."

[Wellstone ruled]

8. We have these blood suckers here in Nevada.

Local News Rags have posted stories of folks paying 800 %. Nevada and South Dakota seem to be the Domicile of these thieves. No usury Laws.

[tabasco]

9. Someone call Little Debbie!

To bail him out!!!

[DebbieCDC]

14. How much has he donated to DWS' re-election fund? n/t

[rocktivity]

16. CUE THE VONAGE THEME!

Of course, President Trump would give the guy a medal of armor...


rocktivity

[Dont call me Shirley]

17. Debbie's good buddy?