Minnesota Supreme Court upholds limits on Web payday advances

The Minnesota Supreme Court has ruled that out-of-state payday lenders who provide loans to Minnesota residents on the internet are susceptible to the exact same restrictions as bricks-and-mortar loan providers. The ruling will come in a 2011 lawsuit filed by state Attorney General Lori Swanson against Integrity Advance, a loan provider located in Delaware which was making loans that are short-term the web to Minnesota borrowers at rates of interest up to 1,369 % per…