Illinois noise
May 4, 2009 | Illinois, industry, regulation | Comments (0)From the story:
Consumer groups in Illinois say a recent law curbing payday lenders needs more changes.
Reformers say lenders are exploiting loopholes in a 2005 law designed to stop abuses by payday lenders.
State Representative Julie Hamos says short-term lenders get around the regulation by stretching out loans to more than four months which skirt the current law.
We’ll stay on top of this. CFSA is well represented in Illinois.
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