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I live in PA and currently have a loan with Cash Call which was underwritten and funded by the First Bank of Delaware. The interest rate on my loan is 98.88%. Does anyone know if the First Bank of Delaware is bound by the PA small loan rate cap of $9.50 per $100 discount or 24% per year since the have a physical presence in PA. The contact address listed for them on Cash Calls website is on 16th street in Philsdelphia.

I e-mail the PA department of Banking and ask this question, but wanted to see the thought of the forum. I willingly took out the loan and fully intend to pay it back I just want to make sure I pay a fair and legal interest rate.

Thank you for your thoughts.

Unfotunately Cash Call is an installemt loan backed by a bank so they are legal as they stand.
Please read for more info: info.html

Sub: #1 posted on Thu, 12/20/2007 - 09:05

Morningstarr430 Morningstarr430

(Posts: 2329 | Credits: 410.28)

Thanks Morningstar,

I was afraid of that. Like I said I willingly took out the loan and will repay it. I was hoping for something to use as leverage to help get the interest rate reduced.

Sub: #2 posted on Thu, 12/20/2007 - 14:53


Yeah, Morningstar is correct. Since they are backed by a bank, and the bank is the actual lender, Federal Law allows them to use their home state's laws to govern the transaction. Which in this case is DE, which has no interest rate cap.

Sub: #3 posted on Thu, 12/20/2007 - 20:21

goudah2424 goudah2424

(Posts: 7936 | Credits: 1224.9)

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