Applying Pennsylvania’s usury laws to out-of-state lending companies does not violate the commerce clause, a federal appellate court has ruled in a precedential opinion.

A three-judge panel of the U.S. Court of Appeals for the Third Circuit has unanimously ruled that Pennsylvania’s Department of Banking and Securities can investigate and apply its anti-usury laws against TitleMax, an out-of-state lender that has no brick-and-mortar locations in the Keystone State and no advertising presence either. The lender, which has offices in Delaware, Ohio and Virginia and focuses on auto loans, offers lending agreements with interest as high as 180%.