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Published on Aug 20, 2012
Last month, the Philadelphia Parking Authority announced it was refunding nearly $800 thousand dollars in red-light camera tickets erroneously issued earlier in the year.
However, none of those drivers wrongfully charged will be receiving even a penny of interest on the money returned. Meaning, the motoring public essentially floated a free loan to the city of Philadelphia.
Now if a bank did this, you can bet there would be a litany of federal investigations and Congressional hearings.
The Philadelphia Parking Authority, on the other hand, can apparently borrow your money free-of-charge with barely a peep of scrutiny or outrage.