The Department of Banking and Securities urges consumers to avoid deceptive "easy money" loans from unlicensed, out-of-state lenders that promise fast, hassle-free money for emergencies or holiday shopping.

These loans, often in the form of payday loans or car title loans, range from $100 to $1,000, although some go higher. Including interest and fees, these loans demand that you pay 300 to 1,000 annual percent interest, which is unlawful in Pennsylvania.Many of these loans are short-term (due in two weeks to a month) although some loans take years to repay, often with added, unexpected charges."The Internet contains a lot of 'guarantees' of easy, fast ways to get cash that too often lead to long-term financial problems," said Secretary of Banking and Securities Robin L. Wiessmann."Too many people who take out 'easy money' loans end up paying shockingly high amounts of interest on these loans, losing their cars or motorcycles, or being hounded illegally by debt collectors."More information about the Credit Union Better Choice program is available at

http://pcua.org/ConsumerInfo/BetterChoice.aspx.Consumers can call the PA Housing Finance Agency at 855-827-3466 (press "0"), and be referred to free credit, housing, or foreclosure counseling.