Predatory loan providers want Pritzker to veto a restriction on triple interest that is digit. State legislature targets usury “to get towards the heart of systemic racism”

Predatory loan providers want Pritzker to veto a restriction on triple interest that is digit. State legislature targets usury “to get towards the heart of systemic racism”

State legislature targets usury “to get towards the heart of systemic racism”

A measure that would cap interest rates for consumer loans under $40,000—such as payday loans, installment loans, and auto title loans—at 36 percent among the flurry of bills passed in the five-day January lame duck session in Springfield was the Predatory Loan Prevention Act.