A death in Illinois
May 29, 2009 | Illinois, industry | Comments (0)According to this story, payday lending refom legislation has died in Illinois:
On Tuesday evening, the industry won out again as the House Executive Committee rejected Rep. Julie Hamos’ (D-Evanston) SB 1435, which would have established reasonable interest rate caps and fair finance charges on these largely-unregulated loans. Eight members of the committee voted “Present.” “It’s a big disappointment for those who have been working hard on the issue for years,” Hamos told us from the House floor yesterday.
Truthfully, we haven’t been watching this and don’t know much about it.
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