Main Line’s ‘godfather of payday lending’ sentenced to 14 years, stripped of $64M, for preying on economically vulnerable

Main Line’s ‘godfather of payday lending’ sentenced to 14 years, stripped of $64M, for preying on economically vulnerable

A previous Main Line investment banker whom made a lifetime career of flouting state regulations and preying on cash-strapped individuals to build one of several country’s biggest payday-lending empires had been sentenced Friday to 14 years in federal prison and stripped in excess of $64 million in assets.

But Charles M. Hallinan, 77, of Villanova, stayed unrepentant when confronted with a jail term that their solicitors said may as well be described as a “death phrase” provided their age and rapidly decreasing wellness. Continue reading