02
Aug

Stupid Errors by Payday Loan, Car Title and Installment Lenders

By: Car Title Loan Startup Guy. It’s no secret that state regulatory agencies are attempting to fund their budgets via fines paid by licensed car title, payday loan and installment loan lenders. Recently, Sue Hofer, a spokes person for the Illinois Department of Financial and Professional Regulation said the following, “The state financial regulation agency has fined several payday and title loan companies in Springfield and the surrounding area for rules violations found by agency inspectors during annual examinations of the companies. The fines, which ranged from $1,000 to $7,000, were as a result of enforcement actions over the past several months.”

My point? Study the so-called errors made by these companies and get your house in order. And check out some of these names! Even the “big boys” screw up.” Of course, the companies listed below who eventually prove the state examiner who made the faulty claim will never be exonerated here or anywhere else. That info gets buried on page 47 of the “South Beach Who Gives a Crap News.”

Consumer Credit Section

AAA Cash Loans, Inc., Alton – CILA license (2754) fined $7,000 for the following violation: Title-secured loan is not repayable in weekly, bi-weekly, semi-monthly, or monthly installments.

A-All Financial Services, Inc., Chicago – PLRA license (1317) fined $2,000 for the following violation: Lender made an installment payday loan exceeding 22.5% of the obligor’s gross monthly income or Lender made a payday loan exceeding 25% of the obligor’s gross monthly income.

ABC Consumer Loans, LLC, Metropolis – CILA license (2930) fined $6,250 for the following violations: The lender took a vehicle title as security on a Small consumer loan. Lender did not obtain any official documentation of the borrower’s income before making a Small consumer loan.

AC Autopay, LLC, Denver, CO – SFA license (1410) fined $1,000 for the following violation: File does not contain evidence of a contract signed or acknowledged by the borrower.

Advance America, Cash Advance Centers of IL, Inc., Galesburg – PLRA license (1040) fined $1,000 for the following violation: Licensee did not refund unearned finance charges based on the actuarial method.

Advance America, Cash Advance Centers of IL, Inc., Pekin – PLRA license (1053) fined $1,250 for the following violation: Licensee did not refund unearned finance charges based on the actuarial method.

Advance America, Cash Advance Centers of IL, Inc., Rockford – PLRA license (1023) fined for $6,000 for the following violations: Lender did not input accurate information into the database to determine if the obligor was eligible for a loan. Lender did not enter into the database that the borrower’s loan was paid in full or cancelled on the day the transaction was made. Licensee did not refund unearned finance charges based on the actuarial method.

Advance America, Cash Advance Centers of IL, Inc., Rock Island – PLRA license (1029) fined $3,750 for the following violations: Official income documentation was not the required type for a payday loan or was not for income for the 30 days preceding the loan. Lender made an installment payday loan exceeding 22.5% of the obligor’s gross monthly income or Lender made a payday loan exceeding 25% of the obligor’s gross monthly income. Licensee did not refund unearned finance charges based on the actuarial method.

– 2 –

Advance America, Cash Advance Centers of IL, Inc., DeKalb – PLRA license (1015) fined $3,250 for the following violations: Lender did not input accurate information into the database to determine if the obligor was eligible for a loan. Lender made an installment payday loan exceeding 22.5% of the obligor’s gross monthly income or Lender made a payday loan exceeding 25% of the obligor’s gross monthly income. Licensee did not refund unearned finance charges based on the actuarial method.

Advance America, Cash Advance Centers of IL, Inc., Freeport – PLRA license (1070) fined $1,250 for the following violations: Lender did not input accurate information into the database to determine if the obligor was eligible for a loan. Licensee did not refund unearned finance charges based on actuarial method.

All American Cash Advance, Inc., Carpentersville – PLRA license (1888) fined $1,000 for the following violation: Lender did not input accurate information into the database to determine if the obligor was eligible for a loan.

All American Cash Advance, Inc., Carpentersville – PLRA license (1888) fined $6,000 for the following violations: Lender did not input accurate information into the database to determine if the obligor was eligible for a loan. Lender charged more than $15.50 per $100 on the initial principal balance and/or on the principal balances scheduled to be outstanding during any installment period on an Installment payday loan.

Ally Financial Inc., Jacksonville, FL – SFA license (1340) fined $1,000 for the following violation: File does not contain evidence of a contract signed or acknowledged by the borrower.

Ally Financial Inc., Little Rock, AR – SFA license (1336) fined $3,000 for the following violation: File does not contain evidence of a contract signed or acknowledged by the borrower.

Ally Financial Inc., Auburn Hills, MI – SFA license (1323) fined $1,000 for the following violation: Improper simple interest calculations.

America’s Financial Choice, Inc., Calumet City – PLRA license (1284) fined $1,000 for the following violation: Licensee did not refund unearned finance charges based on the actuarial method.

America’s Financial Choice, Inc., Chicago – PLRA license (1283) fined $7,000 for the following violations: The loan contract does not state interest rate, agreed upon by the licensee and the borrower, what the licensee charges, contracts for, and receives upon the principal amount. Lender charged more than $15.50 per $100 on the initial principal balance and/or on the principal balances scheduled to be outstanding during any installment period on an Installment payday loan.

America’s Financial Choice, Inc., Belleville – PLRA license (1789) fined $1,000 for the following violation: The loan contract does not state interest rate, agreed upon by the licensee and the borrower, that the licensee charges, contracts for, and receives upon the principal amount.

Americash Loans, LLC, Champaign – PLRA license (1708) fined $10,000 for the following violation: Lender engaged in unfair, deceptive, or fraudulent practices in the making or collecting of a payday loan.

– 3 –

AmeriCredit Financial Services, Inc., Arlington, TX – SFA license (1128) fined $1,000 for the following violation: Licensee did not dispose of repossessed collateral in a commercially reasonable manner.

Archerfield Funding, LLC, Palm Beach Gardens, FL – CILA license (3580) fined $14,000 for the following violations: Improper simple interest calculation. The total monthly account handling fee on the small loan contract exceeds the statutory limit. Lender did not accurately input the borrower’s gross monthly income into the database for a small consumer loan.

Ardmore Finance Corporation, Alton – CILA license (2873) fined $2,000 for the following violations: Lender did not obtain any official documentation of the borrower’s income before making a Small consumer loan. The total monthly account handling fee on the small loan exceeds the statutory limit.

Ardmore Finance Corporation, Alton – CILA license (2873) fined $2,000 for the following violations: The lender did not obtain borrower’s most recent income documentation available at the time the loan was made. Lender did not obtain any official documentation of the borrower’s income before making a Small consumer loan.

B & B Investment Group, Inc., Galesburg – CILA license (2902) fined $2,000 for the following violation: Lender did not obtain any official documentation of the borrower’s gross monthly income before making a Small consumer loan.

Bay Finance Company, LLC, Wausau, WI – SFA license (1156) fined $2,000 for the following violation: Licensee did not maintain a positive net worth of a minimum of $30,000.

Brookwood Loans of Illinois, LLC, Alpharetta, GA – CILA license (3765) fined $21,000 for the following violations: Lender did not input information into the database within 90 days after making a Small consumer loan. Lender did not obtain any official documentation of the borrower’s income before making a Small consumer loan.

Brother Loan & Finance Company, East St. Louis – CILA license (1186) fined $1,000 for the following violation: Small consumer loan is not fully amortized or is not repayable in substantially equal installments.

Buckeye Check Cashing of Illinois, LLC, Chicago – PLRA license (1815) fined $3,000 for the following violations: Improper simple interest calculations. Licensee did not refund unearned finance charges based on the actuarial method.

Buckeye Check Cashing of Illinois, LLC, Chicago – PLRA license (3594) fined $2,000 for the following violation: Lender did not input accurate information into the database to determine if the obligor was eligible for a loan.

Buckeye Check Cashing of Illinois, LLC, Chicago – PLRA license (3591) fined $2,000 for the following violation: Lender did not input accurate information into the database to determine if the obligor was eligible for a loan.

Buckeye Check Cashing of Illinois, LLC, Chicago – PLRA license (1814) fined $1,000 for the following violation: Lender did not input accurate information into the database to determine if the obligor was eligible for a loan.

Burlington Acceptance, L.L.C., Willowbrook – SFA license (1376) fined $2,000 for the following violation: Licensee did not maintain a positive net worth of a minimum of $30,000.

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Buy Here, pay Here, Inc., Carbondale – SFA license (1139) fined $3,000 for the following violations: Licensee did not follow required procedures when ceasing operations, closing business, or filing for bankruptcy. Licensee did not maintain a positive net worth of a minimum of $30,000.

Cash To Go at Wheeling, Palatine – CILA license (2959) fined $2,000 for the following violation: Licensee did not maintain a positive net worth of a minimum of $30,000.

CGI Finance, Inc., Glen Burnie – SFA license (1284) fined $1,000 for the following violation: Improper simple interest calculations.

Check Into Cash of Illinois, LLC, Matteson – CILA license (1623) fined $2,000 for the following violation: Lender did not input accurate information into the database to determine if the obligor was eligible for a loan.

Check Into Cash of Illinois, LLC, Rockford – PLRA license (1203) fined $2,000 for the following violations: Lender did not input accurate information into the database to determine if the obligor was eligible for a loan. Lender made an installment payday loan exceeding 22.5% of the obligor’s gross monthly income or Lender made a payday loan exceeding 25% of the obligor’s gross monthly income.

Check Into Cash of Illinois, LLC, De Kalb – PLRA license (1233) fined $10,000 for the following violation: The loan contract does not state the interest rate, agreed upon by the licensee and the borrower, that the licensee charges, contracts for, and receives upon the principal amount.

Check Into Cash of Illinois, LLC, Decatur – PLRA license (1222) fined $2,500 for the following violation: Official income documentation was not the required type for a payday loan or was not for income for the 30 days preceding the loan.

CNAC East Dundee, Inc., East Dundee – SFA license (1399) fined $ 2,000 for the following violation: Licensee did not maintain a positive net worth of a minimum of $30,000.

CNAC Berwyn, LLC, Berwyn – SFA license (1234) fined $ 2,000 for the following violation: Licensee did not maintain a positive net worth of a minimum of $30,000.

Collinsville Quick Cash, Inc., Collinsville – CILA license (1615) fined $1,000 for the following violation: Improper simple interest calculations.

Compass Equipment Finance, LLC, Burr Ridge – SFA license (1295) fined $5,000 for the following violation: The licensee is illegally taking the Power of Attorney.

Consumer Financial Services Corporation, Aurora – CILA license (2977) fined $2,000 for the following violations: Licensee did not maintain a positive net worth of a minimum of $30,000.

Cottonwood Financial Illinois, LLC, Peoria – PLRA license (1580) fined $1,500 for the following violations: Official income documentation was not the required type for a payday loan or was not for income for the 30 days preceding the loan. Lender made an installment payday loan exceeding 22.5% of the obligor’s gross monthly income or Lender made a payday loan exceeding 25% of the obligor’s gross monthly income.

– 5 –

Cottonwood Financial Illinois, LLC, Chester – PLRA license (1608) fined $1,000 for the following violation: Lender made an installment payday loan exceeding 22.5% of the obligor’s gross monthly income or Lender made a payday loan exceeding 25% of the obligor’s gross monthly income.

Cottonwood Financial Illinois, LLC, Chester – CILA license (3369) fined $2,000 for the following violations: Lender made a title-secured loan with a scheduled monthly payment exceeding 50% of the obligor’s gross monthly income. Require lenders to input information into the database which is required by the Department.

Cottonwood Financial Illinois, LLC, Rockford – PLRA license (1586) fined $3,000 for the following violation: Lender did not obtain any official documentation of the borrower’s income before making a payday or title-secured loan.

Cottonwood Financial Illinois, LLC, Lombard – PLRA license (1591) fined $1,000 for the following violation: Lender did input accurate information into the database to determine if the obligor was eligible for a loan.

Cottonwood Financial Illinois, LLC, Marion – CILA license (3360) fined $10,250 for the following violations: Lender made a title-secured loan with a scheduled monthly payment exceeding 50% of the obligor’s gross monthly income. Licensee did not dispose of collateral within 90 days of repossession. Lender did not obtain any official income documentation of the borrower’s income before making a payday or title-secured loan.

Cottonwood Financial Illinois, LLC, Marion – PLRA license (1575) fined $3,500 for the following violations: Lender did not obtain any official income documentation of the borrower’s income before making a payday or title-secured loan. Official income documentation is not the required type for a payday loan or was not for the 30 days preceding the loan. Lender made an installment payday loan exceeding 22.5% of the obligor’s gross monthly income or Lender made a payday loan exceeding 25% of the obligor’s gross monthly income.

Cottonwood Financial Illinois, LLC, Loves Park – PLRA license (1576) fined $4,000 for the following violations: Lender did not input accurate information into the database to determine if the obligor was eligible for a loan. Lender did not obtain any official documentation of the borrower’s gross monthly income before making a payday or title-secured loan.

Cottonwood Financial Illinois, LLC, Taylorville – CILA license (3368) fined $1,000 for the following violation: Lender made a title-secured loan with a scheduled monthly payment exceeding 50% of the obligor’s gross monthly income.

Cottonwood Financial Illinois, LLC, Mattoon – CILA license (3357) fined $3,000 for the following violation: Lender made a title-secured loan with a scheduled monthly payment exceeding 50% of the obligor’s gross monthly income.

Cottonwood Financial Illinois, LLC, Pontiac – PLRA license (1605) fined $2,000 for the following violation: Lender made and installment payday loan exceeding 22.5% of the obligor’s gross monthly income or Lender made a payday loan exceeding 25% of the obligor’s gross monthly income.

Cottonwood Financial Illinois, LLC, Rockford – PLRA license (1594) fined for $1,000 for the following violation: Lender did not input accurate information into the database to determine if the obligor was eligible for a loan.

– 6 –

Cottonwood Financial Illinois, LLC, Highland –PLRA license (1596) fined $2,000 for the following violation: Lender did not obtain any official documentation of the borrower’s income before making a payday or title-secured loan.

Cottonwood Financial Illinois, LLC, Rockford – PLRA license (1564) fined $2,000 for the following violation: Lender made and installment payday loan exceeding 22.5% of the obligor’s gross monthly income or Lender made a payday loan exceeding 25% of the obligor’s gross monthly income.

Cottonwood Financial Illinois, LLC, Peoria – CILA license (3382) fined $1,000 for the following violation: Lender made a title-secured loan with a scheduled monthly payment exceeding 50% of the obligor’s gross monthly income.

Cottonwood Financial Illinois, LLC, Rockford – CILA license (3362) fined $2,250 for the following violations: Lender made a title-secured loan with a monthly payment exceeding 50% of the obligor’s gross monthly income. Title-secured lender did not obtain borrower’s most recent income documentation available at the time the loan was made. Lender did not input accurate information into the database to determine if the obligor was eligible for a loan.

Cottonwood Financial Illinois, LLC, Rockford – PLRA license (1588) fined $3,000 for the following violation: Lender did not obtain any official documentation of the borrower’s income before making a payday or title-secured loan.

Cottonwood Financial Illinois, LLC, Salem – CILA license (3359) fined $4,000 for the following violations: Lender made a title-secured loan with a scheduled monthly payment exceeding 50% of the obligor’s gross monthly income. Title-secured lender did not obtain borrower’s most recent income documentation available at the time the loan was made.

Cottonwood Financial Illinois, LLC, Morris – CILA license (3379) fined $1,000 for the following violation: Lender did not properly enter loan(s) into the database on the day the loan was made.

Cottonwood Financial Illinois, LLC, Ottawa – CILA License (3381) fined $1,250 for the following violations: Lender made a title-secured loan with a scheduled monthly payment exceeding 50% of the obligor’s gross monthly income. Title-secured lender did not obtain borrower’s most recent income documentation available at the time the loan was made.

Cottonwood Financial Illinois, LLC, Morris – PLRA license (1583) fined $1,000 for the following violation: Lender made and installment payday loan exceeding 22.5% of the obligor’s gross monthly income or Lender made a payday loan exceeding 25% of the obligor’s gross monthly income.

Cottonwood Financial Illinois, LLC, Streator – PLRA license (1579) fined $1,000 for the following violation: Lender made and installment payday loan exceeding 22.5% of the obligor’s gross monthly income or Lender made a payday loan exceeding 25% of the obligor’s gross monthly income.

Cottonwood Financial Illinois, LLC, Kankakee – CILA license (3473) fined $3,500 for the following violations: Lender made a title-secured loan with a scheduled monthly payment exceeding 50% of the obligor’s gross monthly income. Title-secured lender did not obtain borrower’s most recent income documentation available at the time the loan was made. Lender did not obtain any official documentation of the borrower’s income before making a payday or title-secured loan.

– 7 –

Cottonwood Financial Illinois, LLC, Silvis – CILA license (3830) fined $1,000 for the following violation: Lender made a title-secured loan with a scheduled monthly payment exceeding 50% of the obligor’s gross monthly income.

Cottonwood Financial Illinois, LLC, DuQuoin – PLRA license (1606) fined $5,000 for the following violation: Lender did not obtain any official documentation of the borrower’s gross monthly income before making a payday or title-secured loan.

Cottonwood Financial Illinois, LLC, Rockford – CILA license (3375) fined $1,000 for the following violation: Lender did not input accurate information into the database to determine if the obligor was eligible for a loan.

Cottonwood Financial Illinois, LLC, Rockford – CILA license (3362) fined $1,000 for the following violation: Require lenders to input information into the database which is required by the Department.

Cottonwood Financial Illinois, LLC, Freeport – PLRA license (1569) fined $3,000 for the following violations: Lender did not input accurate information into the database to determine if the obligor was eligible for a loan. Lender made an installment payday and payday loan exceeding 22.5% of the obligor’s gross monthly income.

Cottonwood Financial Illinois, LLC, Lombard – PLRA license (1591) fined $4,000 for the following violation: Lender made and installment payday loan exceeding 22.5% of the obligor’s gross monthly income or Lender made a payday loan exceeding 25% of the obligor’s gross monthly income.

Cottonwood Financial Illinois, LLC, DeKalb – PLRA license (1574) fined for $6,000 for the following violations: Lender did not input accurate information into the database to determine if the obligor was eligible for a loan. Lender made and installment payday loan exceeding 22.5% of the obligor’s gross monthly income or Lender made a payday loan exceeding 25% of the obligor’s gross monthly income.

Cottonwood Financial Illinois, LLC, Belvidere – CILA license (3386) fined for $3,250 for the following violations: Title-secured lender did not obtain borrower’s most recent income documentation available at the time the loan was made. Lender did not input accurate information into the database to determine if the obligor was eligible for a loan.

Cottonwood Financial Illinois, LLC, Pontiac – CILA license (3366) fined $1,000 for the following violation: Lender did not obtain any official documentation of the borrower’s income before making a payday or title-secured loan.

Cottonwood Financial Illinois, LLC, East Peoria – CILA license (3364) fined $1,250 for the following violation: Title-secured lender did not obtain borrower’s most recent income documentation available at the time the loan was made.

Cottonwood Financial Illinois, LLC, Crest Hill – CILA license (3365) fined $3,000 for the following violations: Lender did not input accurate information into the database to determine if the obligor was eligible for a loan. File does not contain evidence of a contract signed or acknowledged by the borrower.

Cottonwood Financial Illinois, DeKalb – CILA license (3376) fined $2,750 for the following violations: Lender made a title-secured loan with a scheduled monthly payment exceeding 50% of the obligor’s gross monthly income. Title-secured lender did not obtain borrower’s most recent income documentation available at the time the loan was made.

– 8 –

Cottonwood Financial Illinois, LLC, Salem – PLRA license (1567) fined $2,250 for the following violations: Lender did not obtain any official documentation of the borrower’s income before making a payday or title-secured loan. Official income documentation was not the required type for a payday loan or was not for the 30 days preceding the loan.

Cottonwood Financial Illinois, LLC, Loves Park – CILA license (3363) fined $4,000 for the following violations: Lender did not input accurate information into the database to determine if the obligor was eligible for a loan. Require lenders to input information into the database which is required by the Department.

Cottonwood Financial Illinois, LLC, Taylorville – PLRA License (1607) fined $4,250 for the following violations: Lender did not obtain any official documentation of the borrower’s income before making a payday or title-secured loan. Official income documentation was not the required type for a payday loan or was not for income for the 30 days preceding the loan. Lender made and installment payday loan exceeding 22.5% of the obligor’s gross monthly income or Lender made a payday loan exceeding 25% of the obligor’s gross monthly income.

Cottonwood Financial Illinois, LLC, Salem – PLRA license (1567) fined $4,250 for the following violations: Lender did not obtain any official documentation of the borrower’s income before making a payday or title-secured loan. Official income documentation was not the required type for a payday loan or was not for income for the 30 days preceding the loan. Lender made and installment payday loan exceeding 22.5% of the obligor’s gross monthly income or Lender made a payday loan exceeding 25% of the obligor’s gross monthly income.

Cottonwood Financial Illinois, LLC, Sterling – PLRA license (1566) fined $1,000 for the following violation: Lender made and installment payday loan exceeding 22.5% of the obligor’s gross monthly income or Lender made a payday loan exceeding 25% of the obligor’s gross monthly income.

Cottonwood Financial Illinois, LLC, Normal – CILA license (3445) fined $1,000 for the following violation: Lender made a title-secured loan with a scheduled monthly payment exceeding 50% of the obligor’s gross monthly income.

Cottonwood Financial Illinois, LLC, Elgin – CILA license (3378) fined $4,250 for the following violations: Improper simple interest calculations. Lender made a title-secured loan with a scheduled monthly payment exceeding 50% of the obligor’s gross monthly income. Title- secured lender did not obtain borrower’s most recent income documentation available at the time that the loan was made.

Cottonwood Financial Illinois, LLC, McHenry – CILA license (3447) fined $3,000 for the following violations: Lender made a title-secured loan with a scheduled monthly payment exceeding 50% of the obligor’s gross monthly income. Lender did not input accurate information into the database to determine if the obligor was eligible for a loan.

Cottonwood Financial Illinois, LLC, Rockford – PLRA license (1564) fined $2,000 for the following violation: Lender did not input accurate information into the database to determine if the obligor was eligible for a loan.

Cottonwood Financial Illinois, LLC, McHenry – PLRA license (1646) fined $4,000 for the following violations: Lender did not input accurate information into the database to determine if the obligor was eligible for a loan. Lender made and installment payday loan exceeding 22.5% of the obligor’s gross monthly income or Lender made a payday loan exceeding 25% of the obligor’s gross monthly income.

– 9 –

Cottonwood Financial Illinois, LLC, Belvidere – PLRA license (1600) fined $8,250 for the following violations: Lender did not input accurate information into the database to determine if the obligor was eligible for a loan. The lender did not obtain borrower’s most recent income documentation available at the time the loan was made.

Cottonwood Financial Illinois, LLC, East Peoria – PLRA license (1603) fined $1,250 for the following violations: Lender did not obtain any official documentation of the borrower’s income before making a payday or title-secured loan. Official income documentation was not the required type for a payday loan or was not for income for the 30 days preceding the loan.

Cottonwood Financial Illinois, LLC, Kankakee – PLRA license (1656) fined $1,000 for the following violation: Lender did not input accurate information into the database to determine if the obligor was eligible for a loan.

Cottonwood Financial Illinois, LLC, Rockford – CILA license (3372) fined $1,250 for the following violation: Title-secured lender did not obtain borrower’s most recent income documentation available at the time the loan was made. Lender did not input accurate information into the database to determine if the obligor was eligible for a loan.

Cottonwood Financial Illinois, LLC, Lombard – CILA license (3392) fined $2,000 for the following violation: Lender made a title-secured loan with a scheduled monthly payment exceeding 50% of the obligor’s gross monthly income.

Cottonwood financial Illinois, LLC, Kankakee – CILA license (3473) fined $1,250 for the following violations: Title-secured lender did not obtain borrower’s most recent income documentation available at the time the loan was made. Lender did not input accurate information into the database to determine if the obligor was eligible for a loan.

Cottonwood Financial Illinois, LLC, Streator – CILA license (3373) fined $1,000 for the following violation: Lender made a title-secured loan with a scheduled monthly payment exceeding 50% of the obligor’s gross monthly income.

Cottonwood Financial Illinois, LLC, Normal – CILA license (3445) fined $1,000 for the following violation: Lender made a title-secured loan with a scheduled monthly payment exceeding 50% of the obligor’s gross monthly income.

Cottonwood Financial Illinois, LLC, Peoria– CILA license (3390) fined $1,250 for the following violations: Lender made a title-secured loan with a scheduled monthly payment exceeding 50% of the obligor’s gross monthly income. Title-secured lender did not obtain borrower’s most recent income documentation at the time the loan was made.

Cottonwood Financial Illinois, LLC, Carbondale – PLRA license (1578) fined $2,750 for the following violations: Lender did not input accurate information into the database to determine if the obligor was eligible for a loan. Official income documentation is not the required type for a payday loan or was not for income for the 30 days preceding the loan. Lender made an Installment payday loan exceeding 22.5% of the obligor’s gross monthly income or Lender made a payday loan exceeding 25% of the obligor’s gross monthly income.

Cottonwood Financial Illinois, LLC, Peoria – CILA license (3382) fined $7,250 for the following violations: Lender made a title-secured loan with a scheduled monthly payment exceeding 50% of the obligor’s gross monthly income. Lender did not input accurate information into the database to determine if the obligor was eligible for a loan. Lender did not obtain any official income documentation of the borrower’s income before making a payday or title-secured loan.

– 10 –

Cottonwood Financial Illinois, LLC, Mount Vernon – PLRA license (1573) fined $2,500 for the following violations: Official income documentation was not the required type for a payday loan or was not for income for the 30 days preceding the loan. Lender made and installment payday loan exceeding 22.5% of the obligor’s gross monthly income or Lender made a payday loan exceeding 25% of the obligor’s gross monthly income.

Cottonwood Financial Illinois, LLC, Ottawa – PLRA license (1582) fined $1,000 for the following violation: Lender did not input accurate information into the database to determine if the obligor was eligible for a loan.

Cottonwood Financial Illinois, LLC, Peru – PLRA license (1643) fined $1,000 for the following violation: Lender made and installment payday loan exceeding 22.5% of the obligor’s gross monthly income or Lender made a payday loan exceeding 25% of the obligor’s gross monthly income.

Cottonwood Financial Illinois, LLC, Carbondale – CILA license (3355) fined $5,000 for the following violations: Lender made a title-secured loan with a scheduled monthly payment exceeding 50% of the obligor’s gross monthly income. Lender did not obtain any official documentation of the borrower’s income before making a payday or title-secured loan.

Cottonwood Financial Illinois, LLC, Wood River – CILA license (3444) fined $7,250 for the following violations: Lender made a title-secured loan with a scheduled monthly payment exceeding 50% of the obligor’s gross monthly income. Title-secured lender did not obtain borrower’s most recent income documentation available at the time the loan was made. Lender did not properly enter loan(s) into the database on the day made.

Courtesy Loans of Illinois, L.L.C., Bloomington – CILA license (2812) fined $1,500 for the following violations: Improper simple interest calculations. Lender made a small consumer loan to a consumer for which the total of all payments to be made in any month on the loan exceeds 22.5% of the consumer’s gross monthly income.

Courtesy Loans of Illinois, L.L.C., Mattoon – CILA license (2220) fined $ 15,250 for the following violations: Lender refinanced Small consumer loan within 75 days from the date of the loan. Lender did not obtain any official documentation of the borrower’s income before making a Small consumer loan. Lender did not accurately input borrower’s gross monthly income into the database for a small consumer loan.

Courtesy Loans of Illinois, L.L.C., Effingham – CILA license (2605) fined $1,000 for the following violation: Lender made a small consumer loan to a consumer for which the total of all payments to be made in any month on the loan exceeds 22.5% of the consumer’s gross monthly income.

Easy Acceptance, Inc., Chicago – SFA license (1296) fined $2,500 for the following violation: Interest or account handling charge rebate is insufficient.

Easy Acceptance, Inc., Chicago – SFA license (1296) fined $1,250 for the following violations: Interest or account handling charge rebate is insufficient. Licensee did not dispose of collateral within 90 days of repossession.

Easy Money Express Co., Marion – CILA license (2265) fined $1,000 for the following violation: Improper simple interest calculations.

Evergreen Financial LLC, Chicago – CILA license (2484) fined $ 2,000 for the following violation: Licensee did not maintain a positive net worth of a minimum of $30,000.

– 11 –

Express Auto Title Loans, Inc., Wheeling – CILA license (2071) fined $3,000 for the following violations: Lender did not input accurate information into the database to determine if the obligor was eligible for a loan. Lender did not obtain any official documentation of the borrower’s income before making a payday or title-secured loan.

Family Title Loans, Inc., Peoria – CILA license (3123) fined $5,000 for the following violation: The licensee is illegally taking the Power of Attorney.

Foundation Finance Company LLC, Rothschild, WI – SFA license (1400) fined $1,000 for the following violation: Improper simple interest calculations.

Great Lakes Specialty Finance, Inc., Schaumburg – PLRA license (1078) fined for $5,000 for the following violations: Lender did not input accurate information into the database to determine if the obligor was eligible for a loan. Lender made and installment payday loan exceeding 22.5% of the obligor’s gross monthly income or Lender made a payday loan exceeding 25% of the obligor’s gross monthly income.

Great Lakes Specialty Finance, Inc., Rockford –PLRA license (1076) fined $1,000 for the following violations: Lender did not input accurate information into the database to determine if the obligor was eligible for a loan.

Great Lakes Specialty Finance, Inc., Chicago Heights – PLRA license (1094) fined $1,000 for the following violation: Lender did not input accurate information into the database to determine if the obligor was eligible for a loan.

Great Lakes Specialty Finance, Inc., Rockford – PLRA license (1076) fined $3,000 for the following violation: Lender made and installment payday loan exceeding 22.5% of the obligor’s gross monthly income or Lender made a payday loan exceeding 25% of the obligor’s gross monthly income.

Great Lakes Specialty Finance, Inc., Glenwood – PLRA license (1140) fined $1,000 for the following violation: Lender did not input accurate information into the database to determine if the obligor was eligible for a loan.

H.E.R.R. Ltd., Rockford – CILA license (3525) fined $8,250 for the following violations:Title-secured loan is not fully amortized or was not repayable in substantially equal and consecutive installments. Lender did not input accurate information into the database to determine if the obligor was eligible for a loan. Require lenders to input information into the database which is required by the Department.

Harrisburg Quick Cash, Inc., Harrisburg – PLRA license (1800) fined $1,000 for the following violation: Lender did not obtain any official documentation of the borrower’s income before making a payday or title-secured loan.

Illini Finance, Inc., Marion – CILA license (3515) fined for $11,000 for the following violations: Lender did not input information into the database within 90 days after making a Small consumer loan. Small consumer loan is not fully amortized or is not repayable in substantially equal installments.

Illini Finance, Inc., Marion – CILA license (3515) fined for $3,000 for the following violation: Lender did not obtain any official documentation of the borrower’s income before making a Small consumer loan.

– 12 –

Illinois Title Loans, Inc., Decatur – CILA license (1371) fined $1,000 for the following violation: Title-secured lender did not obtain borrower’s most recent income documentation available at the time the loan was made.

Illinois Title Loans, Inc., Chicago – CILA license (1912) fined $1,000 for the following violation: Lender did not input accurate information into the database to determine if the obligor was eligible for a loan.

Illinois Title Loans, Inc., Joliet – CILA license (1953) fined $3,000 for the following violation: Lender did not obtain any official documentation of the borrower’s income before making a payday or title-secured loan.

Illinois Title Loans, Inc., Markham – CILA license (1990) fined $4,750 for the following violations: Title-secured lender did not obtain borrower’s most recent income documentation available at the time the loan was made. Lender did not input accurate information into the database to determine if the obligor was eligible for a loan. Lender did not obtain any official documentation of the borrower’s income before making a payday or title- secured loan.

Illinois Title Loans, Inc., Rockford – CILA license (1915) fined $3,000 for the following violations: Lender did not input accurate information into the database to determine if the obligor was eligible for a loan. Lender did not obtain any official documentation of the borrower’s income before making a payday or title-secured loan.

Illinois Title Loans, Inc., Dolton – CILA license (1976) fined for $1,000 for the following violation: Lender did not input accurate information into the database to determine if the obligor was eligible for a loan.

Illinois Title Loans, Inc., Elgin –CILA license (1913) fined $2,000 for the following violation: Lender did not obtain any official documentation of the borrower’s income before making a payday or title-secured loan.

Illinois Title Loans, Inc., Dolton – PLRA license (1435) fined $2,000 for the following violations: Lender did not input accurate information into the database to determine if the obligor was eligible for a loan. The lender made a payday loan but there is no evidence of a signed written agreement.

Illinois Title Loans, Inc., Chicago – CILA license (1781) fined $2,000 for the following violation: Lender did not obtain any official documentation of the borrower’s income before making a payday or title-secured loan.

Illinois Title Loans, Inc., Normal – CILA license (1783) fined $1,000 for the following violation: Title-secured lender did not obtain borrower’s most recent income documentation available at the time the loan was made.

Illinois Title Loans, Inc., Mount Vernon – CILA license (2124) fined $2,000 for the following violation: Title-secured loan not fully amortized or is not repayable in substantially equal and consecutive installments.

Illinois Title Loans, Inc., Mount Vernon – CILA license (2124) fined $1,250 for the following violations: Title-secured lender did not obtain borrower’s most recent income documentation available at the time the loan was made. Lender did not input accurate information into the database to determine if the obligor was eligible for a loan.

– 13 –

Illinois Title Loans, Inc., Chicago Heights – CILA license (1991) fined for $3,000 for the following violations: Lender did not input accurate information into the database to determine if the obligor was eligible for a loan. Lender did not obtain any official documentation of the borrower’s income before making a payday or title-secured loan.

Illinois Title Loans, Inc., Lomax – CILA license (2337) fined $3,000 for the following violation: Require lenders to input information into the database which is required by the Department.

Illinois title Loans, Inc., Chicago – CILA license (1945) fined $2,250 for the following violations: Licensee charged a fee not allowed. (2nd). Lender did not input accurate information into the database to determine if the obligor was eligible for a loan.

Illinois Title Loans, Inc., Chicago Heights – CILA license (1991) fined for $11,000 for the following violations: Lender did not input accurate information into the database to determine if the obligor was eligible for a loan. Lender did not obtain any official documentation of the borrower’s income before making a payday or title-secured loan. File does not contain evidence of a contract signed or acknowledged by the borrower.

Illinois Title Loans, Inc., Burbank – PLRA license (1421) fined $2,000 for the following violation: Licensee did not maintain a positive net worth of a minimum of $30,000.

Illinois Title Loans, Inc., Springfield – PLRA license (1452) fined $1,000 for the following violation: Lender made and installment payday loan exceeding 22.5% of the obligor’s gross monthly income or Lender made a payday loan exceeding 25% of the obligor’s gross monthly income.

Illinois Title Loans, Inc., Elgin – PLRA license (1447) fined $1,000 for the following violation: Lender made and installment payday loan exceeding 22.5% of the obligor’s gross monthly income or Lender made a payday loan exceeding 25% of the obligor’s gross monthly income.

Illinois Title Loans, Inc., Danville – PLRA license (1426) fined $1,750 for the following violations: Lender did not input accurate information into the database to determine if the obligor was eligible for a loan. Official income documentation is not the required type for a payday loan or was not for income for the 30 days preceding the loan.

JHG Management, Inc., Waukegan – CILA license (3520) fined $3,500 for the following violations: Title-secured loan is not fully amortized or is not repayable in substantially equal and consecutive installments. Title-secured lender did not obtain borrower’s most recent income documentation available at the time the loan was made. Lender did not obtain any official documentation of the borrower’s income before making a payday or title-secured loan.

Life Credit Company, LLC, La Jolla, CA – CILA license (3833) fined $2,000 for the following violation: Licensee did not maintain a positive net worth of a minimum of $30,000.

Loan By Phone of Illinois, LLC, Cleveland, TN – PLRA license (1917) fined $1,000 for the following violation: Lender did not obtain any official documentation of the borrower’s income before making a payday or title-secured loan.

Lou R. Messervy, Springfield – PLRA license (1665) fined $2,000 for the following violations: Lender did not obtain any official documentation of the borrower’s income before making payday or title-secured loan. Lender made and installment payday loan exceeding 22.5% of the obligor’s gross monthly income or Lender made a payday loan exceeding 25% of the obligor’s gross monthly income.

– 14 –

Ludlow Acceptance, LLC, Evanston – SFA license (1102) fined $2,250 for the following violations: Licensee did not maintain a positive net worth of a minimum of $30,000. Licensee did not dispose of collateral within 90 days of repossession.

Midwest Title Loans, Inc., Chicago – CILA license (2090) fined $3,000 for the following violation: Lender did not obtain any official documentation of the borrower’s income before making a payday or title-secured loan.

Midwest Title Loans, Inc., Sycamore – CILA license (3691) fined $2,000 for the following violation: Lender did not obtain any official documentation of the borrower’s income before making a payday or title-secured loan.

Midwest Title Loans, Inc., Northlake – SFA License (1380) fined $1,000 for the following violation: Lender did not input accurate information into the database to determine if the obligor was eligible for a loan.

Midwest Title Loans, Inc., Franklin Park – CILA license (2089) fined $4,000 for the following violations: Lender did not input accurate information into the database to determine if the obligor was eligible for a loan. File does not contain evidence of a contract signed or acknowledged by the borrower.

Midwest Title Loans, Inc., Champaign – CILA license (3825) fined $7,000 for the following violation: Lender did not input accurate information into the database to determine if the obligor was eligible for a loan.

Midwest Title Loans, Inc., Loves Park – CILA license (1846) fined $10,000 for the following violation: Lender did not input accurate information into the database to determine if the obligor was eligible for a loan.

Midwest Title Loans, Inc., Niles – CILA license (3704) fined $5,000 for the following violation: Lender did not obtain any official documentation of the borrower’s income before making a payday or title-secured loan.

Midwest Title Loans, Inc., Oak Forest – CILA license (3709) fined $3,250 for the following violations: Title-secured lender did not obtain borrower’s most recent income documentation available at the time the loan was made. Lender did not verify that the loan was permissible.

Midwest Title Loans, Inc., Rockford – CILA license (3607) fined $8,000 for the following violations: Lender made a title-secured loan with a scheduled monthly payment exceeding 50% of the obligor’s gross monthly income. Lender did not input accurate information into the database to determine if the obligor was eligible for a loan.

Midwest Title Loans, Inc., Aurora – CILA license (3604) fined $1,250 for the following violations: Licensee did not dispose of collateral within 90 days of repossession. Lender did not input accurate information into the database to determine if the obligor was eligible for a loan.

Midwest Title Loans, Inc., Palatine – CILA license (3670) fined $5,000 for the following violation: Lender did not obtain any official documentation of the borrower’s income before making a payday or title-secured loan.

– 15 –

Midwest Title Loans, Inc., Palatine – CILA license (3670) fined $2,500 for the following violations: Lender made a title-secured loan with a schedule monthly payment exceeding 50% of the obligor’s gross monthly income. Title-secured lender did not obtain borrower’s most recent income documentation available at the time the loan was made. Licensee did not dispose of collateral within 90 days of repossession.

Midwest Title Loans, Inc., Champaign – CILA license (3825) fined $11,000 for the following violations: Lender did not input accurate information into the database to determine if the obligor was eligible for a loan. Lender did not obtain any official documentation of the borrower’s income before making a payday or title-secured loan.

Midwest Title Loans, Inc., Sycamore – CILA license (3691) fined $2,250 for the following violations: Title-secured lender did not obtain borrower’s most recent income documentation available at the time the loan was made. Lender did not obtain any official documentation of the borrower’s income before making a payday or title-secured loan.

Midwest Title Loans, Inc., Hanover Park – CILA license (3733) fined $1,250 for the following violations: Title-secured lender did not obtain borrower’s most recent income documentation available at the time the loan was made. Lender did not obtain any official documentation of the borrower’s income before making a payday or title-secured loan.

Midwest Title Loans, Inc., Decatur – CILA license (3708) fined $6,000 for the following violation: Lender made a title-secured loan with a scheduled monthly payment exceeding 50% of the obligor’s gross monthly income.

Midwest Title Loans, Inc., Mt. Vernon – CILA license (3151) fined $5,000 for the following violation: Lender did not obtain any official documentation of the borrower’s income before making a payday or title-secured loan.

Midwest Title Loans, Inc., Decatur – CILA license (1845) fined $4,000 for the following violations: Title-secured lender did not obtain borrower’s most recent income documentation available at the time the loan was made. Lender did not obtain any official documentation of the borrower’s income before making a payday or title-secured loan.

Midwest Title Loans, Inc., Chicago Heights – CILA license (3694) fined $3,000 for the following violation: Lender did not obtain any official documentation of the borrower’s income before making a payday or title-secured loan.

Midwest Title Loans, Inc., Franklin Park – CILA license (2089) fined $8,000 for the following violations: Lender did not verify that the loan was permissible. Lender did not obtain any official documentation of the borrower’s income before making a payday or title-secured loan. File does not contain evidence of a contract signed or acknowledged by the borrower.

Midwest Title Loans, Inc., Naperville – CILA license (3707) fined $5,000 for the following violation: Lender did not obtain any official documentation of the borrower’s income before making a payday or title-secured loan.

Midwest Title Loans, Inc., Harvey – CILA license (1842) fined $8,000 for the following violation: Lender did not input accurate information into the database to determine if the obligor was eligible for a loan.

– 16 –

Midwest Title Loans, Inc., Loves Park – CILA license (1846) fined $4,500 for the following violations: Lender made a title-secured loan with a scheduled monthly payment exceeding 50% of the obligor’s gross monthly income. Title-secured lender did not obtain borrower’s most recent income documentation available at the time the loan was made. Lender did not input accurate information into the database to determine if the obligor was eligible for a loan.

Midwest Title Loans, Inc., Peoria – CILA license (2177) fined $7,000 for the following violation: Lender did not input accurate information into the database to determine if the obligor was eligible for a loan.

OpenRoad Lending, LLC, North Richland Hills, TX – CILA license (3871) fined $5,000 for the following violation: The Licensee is illegally taking Power of Attorney.

Opportunity Financial, LLC, Chicago – CILA license (3558) fined $2,000 for the following violation: Licensee did not maintain a positive net worth of a minimum of $30,000.

Personal Finance Company, LLC, Effingham – CILA/SFA license (405) fined $1,000 for the following violation: File does not contain evidence of a contract signed or acknowledged by the borrower.

Port Enterprises, Ltd., Blue Island – CILA license (2592) fined for $2,250 for the following violations: The annual percentage rate is not accurately disclosed. Title-secured loan is not repayable in weekly, bi-weekly, semi-monthly, or monthly installments.

Preferred Capital Funding of Illinois, LLC, Chicago – CILA license (3575) fined $19,000 for the following violations: The annual percentage rate is not accurately disclosed. Lender did not obtain any official documentation of the borrower’s income before making a Small consumer loan. Lender made a Consumer Loan exceeding 36% Annual Percentage Rate.

Preferred Capital Lending, Inc., Chicago – CILA license (2985) fined $5,000 for the following violation: Lender did not obtain any official documentation of the borrower’s income before making a Small consumer loan.

Progress Financial Corporation, Cicero – CILA license (3861) fined $12,000 for the following violations: Small Consumer loan is not fully amortized or is not repayable in substantially equal installments. Lender did not obtain any official documentation of the borrower’s income before making a Small consumer loan.

Progress Financial Corporation, Chicago – CILA license (3860) fined $10,000 for the following violations: Small Consumer loan is not fully amortized or is not repayable in substantially equal installments.

QC Financial Services, Inc., Danville – PLRA license (1255) fined $4,000 for the following violations: Lender made and installment payday loan exceeding 22.5% of the obligor’s gross monthly income or Lender made a payday loan exceeding 25% of the obligor’s gross monthly income. Installment Payday loan is not fully amortized or is not repayable in substantially equal and consecutive installments.

QuickClick Loans of Illinois, LLC, Alpharetta, GA – CILA License (3597) fined $18,000 for the following violations: Lender did not input information into the database within 90 days after making a Small consumer loan. Lender did not accurately input the borrower’s gross monthly income into the database for a small consumer loan.

– 17 –

QuickClick Loans, LLC, Alpharetta, GA – CILA License (3170) fined $2,000 for the following violation: Licensee did not maintain a positive net worth of a minimum of $30,000.

Redbird Financial, LLC, Palatine – CILA license (1941) fined $1,000 for the following violation: Lender made a Consumer Loan exceeding 36% Annual Percentage Rate.

RRB Finance, LLC, Rockford – CILA/SFA license (3847) fined $2,000 for the following violation: Licensee did not maintain a positive net worth of a minimum of $30,000.

SFC of Illinois, L.P., Champaign – CILA license (2425) fined $8,000 for the following violation: Lender did not accurately input borrower’s gross monthly income into the database for a small consumer loan.

SFC of Illinois, L.P., Crest Hill – CILA license (2440) fined $4,000 for the following violation: Licensee did not properly update the state database with the required information within 90 days of when the events occurred.

SFC of Illinois, L.P., Rockford – CILA license (2403) fined $2,000 for the following violation: Lender did not obtain any official documentation of the borrower’s income before making a Small consumer loan.

SFC of Illinois, L.P., Danville – CILA license (2436) fined $2,000 for the following violation: Licensee did not properly update the state database with the required information within 90 days of when the events occurred.

SFC of Illinois, L.P., Sterling – CILA license (2404) fined $1,000 for the following violation: Lender did not obtain any official documentation of the borrower’s income before making a Small consumer loan.

SFC of Illinois, L.P., Collinsville – CILA license (2437) fined $1,000 for the following violation: Lender did not obtain any official documentation of the borrower’s income before making a Small consumer loan.

SFC of Illinois, L.P., Freeport – CILA license (2427) fined $2,000 for the following violations: Lender did not accurately input borrower’s gross monthly income into the database for a small consumer loan.

SFC of Illinois, L.P., Belvidere – CILA license (2425) fined $8,000 for the following violations: Lender made a small consumer loan to a consumer for which the total of all payments to be made in any month on the loan exceeds 22.5% of the consumer’s gross monthly income. Lender did not accurately input borrower’s gross monthly income into the database for a small consumer loan.

SFC of Illinois, L.P., Rockford – CILA license (2403) fined $2,250 for the following violations: The Lender did not obtain the borrower’s most recent income documentation available at the time the loan was made. Lender did not accurately input borrower’s gross monthly income into the database for a small consumer loan.

SFC of Illinois, L.P., Belvidere – CILA license (2427) fined $3,000 for the following violations: The Lender did not obtain the borrower’s most recent income documentation available at the time the loan was made. Lender did not obtain any official documentation of the borrower’s income before making a small consumer loan.

– 18 –

SFC of Illinois, L.P., Aurora – CILA license (3008) fined $2,000 for the following violation: Lender did not accurately input borrower’s gross monthly income into the database for a small consumer loan.

SFC of Illinois, L.P., Anna – CILA license (3007) fined $1,250 for the following violations: Lender made a small consumer loan to a consumer for which the total of all payments to be made in any month on the loan exceeds 22.5% of the consumer’s gross monthly income. The Lender did not obtain the borrower’s most recent income documentation available at the time the loan was made.

SFC of Illinois, L.P., Sparta – CILA license (2413) fined $2,000 for the following violation: Lender did not obtain any official documentation of the borrower’s income before making a Small consumer loan.

SFC of Illinois, L.P., Mattoon – CILA license (2399) fined $4,250 for the following violations: Lender refinanced Small consumer loan within 75 days from the date of the loan. Lender made a small consumer loan to a consumer for which the total of all payments to be made in any month on the loan exceeds 22.5% of the consumer’s gross monthly income. Lender did not accurately input borrower’s gross monthly income into the database for a small consumer loan.

SFC of Illinois, L.P., Charleston – CILA license (2438) fined $2,250 for the following violations: Lender did not obtain any official documentation of the borrower’s income before making a Small consumer loan. Lender did not accurately input borrower’s gross monthly income into the database for a small consumer loan.

SFC of Illinois, L.P., Du Quoin – CILA license (2477) fined $4,750 for the following violations: The Lender did not obtain the borrower’s most recent income documentation available at the time the loan was made. Lender did not obtain any official documentation of the borrower’s income before making a small consumer loan.

SGB Finance North America, Inc., Glen Burnie, MD – SFA license (1326) fined $4,000 for the following violation: The licensee is illegally taking the Power of Attorney.

Short Term Loans, LLC, Naperville – PLRA license (1648) fined $7,000 for the following violation: Lender charged more than $15.50 per $100 on an initial principal balance and/or on the principal balances scheduled to be outstanding during any installment period on an Installment Payday loan.

Short Term Loans, LLC, Streamwood – PLRA license (1393) fined $3,000 for the following violation: Lender charged more than $15.50 per $100 on an initial principal balance and/or on the principal balances scheduled to be outstanding during any installment period on an Installment Payday loan.

Short Term Loans, LLC, Hoffman Estates – PLRA license (1651) fined $1,000 for the following violation Lender made and installment payday loan exceeding 22.5% of the obligor’s gross monthly income or Lender made a payday loan exceeding 25% of the obligor’s gross monthly income.

Speedy Cash Illinois, Inc., Dolton – CILA license (3865) fined $12,000 for the following violations: Title-secured lender did not obtain borrower’s most recent income documentation available at the time the loan was made. Title-Secured loan is not repayable in weekly, bi-weekly, semi-monthly, or monthly installments.

– 19 –

Speedy Cash Illinois, Inc., Alsip – CILA license (3866) fined $11,000 for the following violations: Title-Secured loan is not repayable in weekly, bi-weekly, semi-monthly, or monthly installments. File does not contain evidence of a contract signed or acknowledged by the borrower.

Speedy Cash Illinois, Inc., Dolton – PLRA license (1909) fined $2,000 for the following violation: Lender did not input accurate information into the database to determine if the obligor was eligible for a loan.

Springleaf Financial Services of Illinois, Inc., Murphysboro – CILA license (958) fined $1,000 for the following violation: File does not contain evidence of a contract signed or acknowledged by the borrower.

State Finance Co., Metropolis – CILA license (2998) fined $2,000 for the following violation: Lender did not obtain any official documentation of the borrower’s income before making a Small consumer loan.

State Finance Co., DuQuoin – CILA license (2862) fined $1,250 for the following violations: The Lender did not obtain borrower’s most recent income documentation available at the time the loan was made. Lender did not obtain any official documentation of the borrower’s income before making a Small consumer loan.

Sun Legal Finance, Inc., Chicago – CILA license (3175) fined $2,000 for the following violation: Improper simple interest calculations.

Sun Loan Company Illinois No. 2, Inc., Carbondale – CILA license (3121) fined $1,250 for the following violations: The Lender did not obtain borrower’s most recent income documentation available at the time the loan was made. Lender did not obtain any official documentation of the borrower’s income before making a Small consumer loan.

Sun Loan Company Illinois No. 2, Inc., West Frankfort – CILA license (3002) fined $3,000 for the following violation: Lender did not obtain any official documentation of the borrower’s income before making a Small consumer loan.

Sun Loan Company Illinois No. 2, Inc., Harrisburg – CILA license (3122) fined $1,250 for the following violations: The Lender did not obtain borrower’s most recent income documentation available at the time the loan was made. Lender did not obtain any official documentation of the borrower’s income before making a Small consumer loan.

Sun Loan Company Illinois No. 2, Inc., Harrisburg – CILA license (3122) fined $1,000 for the following violation: Lender did not obtain any official documentation of the borrower’s income before making a Small consumer loan.

Sun Loan Company Illinois No. 2, Inc., West Frankfort – CILA license (3002) fined $2,000 for the following violation: Lender did not obtain any official documentation of the borrower’s income before making a Small consumer loan.

Sun Loan Company Illinois No. 2, Inc., Marion – CILA license (1239) fined $2,500 for the following violations: The Lender did not obtain borrower’s most recent income documentation available at the time the loan was made. Lender did not obtain any official documentation of the borrower’s income before making a Small consumer loan.

– 20 –

Sun Loan Company Illinois No. 2, Inc., Anna – CILA license (3276) fined $3,250 for the following violations: The Lender did not obtain borrower’s most recent income documentation available at the time the loan was made. Lender did not obtain any official documentation of the borrower’s income before making a Small consumer loan.

Sun Loan Company Illinois No. 2, Inc., Carbondale – CILA license (3121) fined $2,000 for the following violations: Lender did not obtain any official documentation of the borrower’s income before making a Small consumer loan. File does not contain evidence of a contract signed or acknowledged by the borrower.

Swansea Quick Cash, Inc., Swansea – CILA license (1689) fined $5,000 for the following violation: Title-Secured loan is not repayable in weekly, bi-weekly, semi-monthly, or monthly installments.

Title Cash of Illinois, Inc., Bloomington – CILA license (2844) fined for $6,000 for the following violations: Lender made a title-secured loan with a scheduled monthly payment exceeding 50% of the obligor’s gross monthly income. Title-secured lender did not obtain borrower’s most recent income documentation available at the time the loan was made. Licensee did not dispose of repossessed collateral in a commercially reasonable manner.

Title Cash of Illinois, Inc., Mt. Carmel – CILA license (3452) fined for $5,000 for the following violations: The annual percentage rate is not accurately disclosed. Improper simple interest calculations. Lender did not obtain any official documentation of the borrower’s income before making a payday or title-secured loan.

Title Cash of Illinois, Inc., Herrin – CILA license (2750) fined for $1,000 for the following violation: Lender did not obtain any official documentation of the borrower’s income before making a payday or title-secured loan.

Title Cash of Illinois, Inc., Anna – CILA license (2995) fined for $3,250 for the following violations: The annual percentage rate is not accurately disclosed. Licensee did not dispose of repossessed collateral in a commercially reasonable manner.

Title Cash of Illinois, Inc., Rock Island – CILA license (3313) fined for $7,000 for the following violations: Improper simple interest calculations. The licensee is illegally taking the Power of Attorney.

Title Cash of Illinois, Inc., Bloomington – PLRA license (1866) fined for $2,750 for the following violations: Lender imposed on a borrower fees or charges other than those specifically authorized by this Act. Lender overcharged borrower for a check or ACH returned for insufficient funds.

Title Cash of Illinois, Inc., Herrin – CILA license (2750) fined for $2,000 for the following violation: Licensee did not dispose of repossessed collateral in a commercially reasonable manner.

Title Cash of Illinois, Inc., Bloomington – CILA license (2844) fined for $8,500 for the following violations: The licensee is illegally taking the Power of Attorney. Title-secured lender did not obtain borrower’s most recent income documentation available at the time the loan was made. Lender did not obtain any official documentation of the borrower’s income before making a payday ortitle-secured loan.

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Title Cash of Illinois, Inc., Chillicothe – PLRA license (1867) fined for $2,975 for the following violations: Lender attempted or threatened to attempt enforcement of a right or remedy with knowledge or reason to know that the right or remedy does not exist. Lender imposed on a borrower fees or charges other than those specifically authorized by this Act. Lender overcharged borrower for a check or ACH returned for insufficient funds.

Title Cash of Illinois, Inc., Macomb – PLRA license (1854) fined for $2,500 for the following violations: Lender imposed on a borrower fees or charges other than those specifically authorized by this Act. Lender overcharged borrower for a check or ACH returned for insufficient funds.

Title Cash of Illinois, Inc., Loves Park – CILA license (2974) fined for $5,000 for the following violation: The licensee is illegally taking the Power of Attorney.

Title Cash of Illinois, Inc., Anna – CILA license (2995) fined for $1,000 for the following violation: Lender did not obtain any official documentation of the borrower’s income before making a payday or title-secured loan.

Title Cash of Illinois, Inc., Herrin – CILA license (2750) fined for $1,000 for the following violation: Lender did not obtain any official documentation of the borrower’s income before making a payday or title-secured loan.

Title Cash of Illinois, Inc., Peoria – CILA license (2388) fined for $6,000 for the following violations: The licensee is illegally taking the Power of Attorney. Lender did not verify that the loan was permissible.

Title Cash of Illinois, Inc., Peoria – CILA license (3404) fined for $5,000 for the following violation: The licensee is illegally taking the Power of Attorney.

Title Lenders, Inc., Granite City – PLRA license (1491) fined $2,500 for the following violations: Official income documentation was not the required type for a payday loan or was not for income for the 30 days preceding the loan. Lender made an installment payday loan exceeding 22.5% of the obligor’s gross monthly income or Lender made a payday loan exceeding 25% of the obligor’s gross monthly income. Installment Payday loan is not fully amortized or is not repayable in substantially equal and consecutive installments.

Title Lenders, Inc., Chicago – PLRA license (1482) fined $2,250 for the following violation: Licensee did not refund unearned finance charges based on the actuarial method.

Title Lenders, Inc., Aurora – PLRA license (1475) fined $1,000 for the following violation: Lender did not input accurate information into the database to determine if the obligor was eligible for a loan.

Title Lenders, Inc., Des Plaines – PLRA license (1478) fined $1,500 for the following violation: Lender did not input accurate information into the database to determine if the obligor was eligible for a loan. Licensee did not refund unearned finance charges based on the actuarial method.

TitleMax of Illinois, Inc., Peoria – CILA license (3756) fined $1,500 for the following violations: The licensee is illegally taking the Power of Attorney. Title-secured lender did not obtain borrower’s most recent income documentation available at the time the loan was made.

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TitleMax of Illinois, Inc., Oak Lawn – CILA license (3754) fined $1,000 for the following violation: Lender did not input accurate information into the database to determine if the obligor was eligible for a loan.

TitleMax of Illinois, Inc., Collinsville – CILA license (3562) fined $1,000 for the following violation: Licensee refinanced or renewed a title-secured within 15 days after the maturity date of the loan.

TitleMax of Illinois, Inc., Sauk Village – CILA license (3859) fined $7,000 for the following violations: Lender did not input accurate information into the database to determine if the obligor was eligible for a loan. Lender did not obtain any official documentation of the borrower’s income before making a payday or title-secured loan. File does not contain evidence of a contract signed or acknowledged by the borrower.

TitleMax of Illinois, Inc., Peoria – CILA license (3265) fined $7,000 for the following violation: Lender did not verify that the loan was permissible.

TitleMax of Illinois, Inc., Wood Dale – CILA license (3828) fined $1,000 for the following violation: Lender did not obtain any official documentation of the borrower’s income before making a payday or title-secured loan.

TitleMax of Illinois, Inc., Springfield– CILA license (3748) fined $7,000 for the following violations: A title-secured lender made an additional loan to a borrower who had an outstanding title-secured loan within the preceding 15 days. Lender did not obtain any official documentation of the borrower’s income before making a payday or title-secured loan.

TitleMax of Illinois, Inc., Peoria – CILA license (3241) fined $6,000 for the following violations: Lender did not verify that the loan was permissible. Require Lenders to input information into the database which is required by the Department.

TitleMax of Illinois, Inc., Springfield– CILA license (3240) fined $1,000 for the following violation: A title-secured lender made an additional loan to a borrower who had an outstanding title-secured loan within the preceding 15 days.

TitleMax of Illinois, Inc., Harvey – CILA license (3725) fined $2,250 for the following violations: Title-secured lender did not obtain borrower’s most recent income documentation available at the time the loan was made. Lender did not input accurate information into the database to determine if the obligor was eligible for a loan.

TitleMax of Illinois, Inc., Oak Lawn – CILA license (3754) fined $1,000 for the following violation: Lender did not obtain any official documentation of the borrower’s income before making a payday or title-secured loan.

TitleMax of Illinois, Inc., Swansea – CILA license (3457) fined $3,000 for the following violations: Licensee refinanced or renewed a title-secured within 15 days after the maturity date of the loan. A title-secured lender made an additional loan to a borrower who had an outstandingtitle-secured loan within the preceding 15 days. Lender imposed on a borrower fees or charges other than those specifically authorized by this Act.

TitleMax of Illinois, Inc., Mt. Prospect – CILA license (3757) fined $4,000 for the following violation: Lender did not obtain any official documentation of the borrower’s income before making a payday or title-secured loan.

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TitleMax of Illinois, Inc., Plainfield – CILA license (3758) fined $2,000 for the following violation: Lender did not obtain any official documentation of the borrower’s income before making a payday or title-secured loan.

TitleMax of Illinois, Inc., Calumet City – CILA license (3747) fined $5,000 for the following violations: Lender did not input accurate information into the database to determine if the obligor was eligible for a loan. Lender did not obtain any official documentation of the borrower’s income before making a payday or title-secured loan.

TitleMax of Illinois, Inc., Peoria– CILA license (3239) fined $4,000 for the following violations: A title-secured lender made an additional loan to a borrower who had an outstandingtitle-secured loan within the preceding 15 days. Lender did not obtain any official documentation of the borrower’s income before making a payday or title-secured loan. Require Lenders to input information into the database which is required by the Department.

TitleMax of Illinois, Inc., Springfield– CILA license (3348) fined $4,250 for the following violations: Licensee charged a fee not allowed (2nd). A title-secured lender made an additional loan to a borrower who had an outstanding title-secured loan within the preceding 15 days.

TitleMax of Illinois, Inc., Champaign– CILA license (3601) fined $2,000 for the following violations: Lender made a title-secured loan with a scheduled monthly payment exceeding 50% of the obligor’s gross monthly income. Lender did not obtain any official documentation of the borrower’s income before making a payday or title-secured loan.

TitleMax of Illinois, Inc., Alsip– CILA license (3724) fined $1,000 for the following violation: Lender did not obtain any official documentation of the borrower’s income before making a payday or title-secured loan.

TitleMax of Illinois, Inc., Blue Island– CILA license (3723) fined $1,000 for the following violation: Lender did not input accurate information into the database to determine if the obligor was eligible for a loan.

TitleMax of Illinois, Inc., East Alton – CILA license (3335) fined $3,000 for the following violations: Licensee refinanced or renewed a title-secured within 15 days after the maturity date of the loan. The principal amount of the new title-secured loan exceeded the total outstanding balance of the refinanced loan. Title-secured loan was refinanced when original principal amount has not been reduced by 20%

TitleMax of Illinois, Inc., Orland Park – CILA license (3726) fined $1,750 for the following violations: Licensee charged a fee not allowed (2nd).Title-secured lender did not obtain borrower’s most recent income documentation available at the time the loan was made. Lender did not input accurate information into the database to determine if the obligor was eligible for a loan.

TitleMax of Illinois, Inc., Downers Grove – CILA license (3568) fined $3,000 for the following violations: Licensee did not maintain a positive net worth of a minimum of $30,000. Improper simple interest calculations.

TitleMax of Illinois, Inc., Palatine – CILA license (3903) fined $1,000 for the following violation: Lender did not obtain any official documentation of the borrower’s income before making a payday or title-secured loan.

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US Private Loans, Inc., Arlington Heights– CILA License (3894) fined $10,000 for the following violation: Title-secured loan is not fully amortized or is not repayable in substantially equal and consecutive installments.

Wheels Financial Group, LLC, Encino, CA – CILA license (3855) fined $14,750 for the following violations: Lender made a Title-secured loan with a scheduled monthly payment exceeding 50% of the obligor’s gross monthly income. Title-secured lender did not obtain borrower’s most recent income documentation available at the time the loan was made. Lender did not input accurate information into the database to determine if the obligor was eligible for a loan.

WinK Development, LLC, Marshall – PLRA license (1874) fined $2,000 for the following violation: Lender used a device or agreement that would have the effect of charging or collecting more fees or charges than allowed by this Act, including, but not limited to, entering into a different type of transaction with the consumer.

Wise Finance of Sterling, LLC, Sterling – CILA license (3225) fined $1,000 for the following violation: Interest or account handling charge rebate is insufficient.

World Finance Corporation of Illinois, Rockford – CILA license (3234) fined $1,250 for the following violations: The Lender did not obtain borrower’ most recent income documentation available at the time the loan was made. Lender did not accurately input borrower’s gross monthly income into the database for a small consumer loan.

World Finance Corporation of Illinois, Marion – CILA license (1246) fined $4,000 for the following violation: Lender did not obtain any official documentation of the borrower’s income before making a Small consumer loan.

World Finance Corporation of Illinois, Normal – CILA license (3283) fined $6,000 for the following violation: Lender did not accurately input borrower’s gross monthly income into the database for a small consumer loan.

World Finance Corporation of Illinois, Shelbyville – CILA license (3693) fined $3,000 for the following violations: Lender did not obtain any official documentation of the borrower’s income before making a Small consumer loan. Lender did not accurately input borrower’s gross monthly income into the database for a small consumer loan.

World Finance Corporation of Illinois, Champaign – CILA license (3280) fined $6,000 for the following violations: Lender did not obtain any official documentation of the borrower’s income before making a Small consumer loan. Lender did not accurately input borrower’s gross monthly income into the database for a small consumer loan.

World Finance Corporation of Illinois, Rochelle – CILA license (2978) fined $4,000 for the following violations: Lender did not obtain any official documentation of the borrower’s income before making a Small consumer loan. Lender did not accurately input borrower’s gross monthly income into the database for a small consumer loan.

World Finance Corporation of Illinois, Peoria – CILA license (3245) fined $1,225 for the following violations: Require lenders to input information into the database which is required by the Department. Lender did not accurately input borrower’s gross monthly income into the database for a small consumer loan.

World Finance Corporation of Illinois, Anna – CILA license (3532) fined $1,000 for the following violation: Lender did not obtain any official documentation of the borrower’s income before making a Small consumer loan.

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World Finance Corporation of Illinois, Anna – CILA license (3532) fined $2,000 for the following violation: Lender did not obtain any official documentation of the borrower’s income before making a Small consumer loan.

World Finance Corporation of Illinois, Harrisburg – CILA license (2057) fined $1,000 for the following violation: Lender did not obtain any official documentation of the borrower’s income before making a Small consumer loan.

World Finance Corporation of Illinois, Urbana – CILA license (1346) fined $1,000 for the following violation: Lender did not accurately input borrower’s gross monthly income into the database for a small consumer loan.

World Finance Corporation of Illinois, Urbana – CILA license (1346) fined $10,000 for the following violations: Lender did not obtain any official documentation of the borrower’s income before making a Small consumer loan. File does not contain evidence of a contract signed or acknowledged by the borrower.

World Finance Corporation of Illinois, Metropolis – CILA license (2698) fined $5,500 for the following violations: The Lender did not obtain borrower’s most recent income documentation available at the time the loan was made. Lender did not obtain any official documentation of the borrower’s income before making a Small consumer loan.

World Finance Corporation of Illinois, Washington – CILA license (3253) fined $4,000 for the following violations: Lender made a small consumer loan to a consumer for which the total of all payments to be made in any month on the loan exceeds 22.5% of the consumer’s gross monthly income. Lender did not accurately input borrower’s gross monthly income into the database for a small consumer loan.

World Finance Corporation of Illinois, Sterling – CILA license (3278) fined $1,000 for the following violation: Lender did not accurately input borrower’s gross monthly income into the database for a small consumer loan.

World Finance Corporation of Illinois, Sterling – CILA license (3278) fined $2,000 for the following violation: Lender made a small consumer loan to a consumer for which the total of all payments to be made in any month on the loan exceeds 22.5% of the consumer’s gross monthly income.

World Finance Corporation of Illinois, Dixon – CILA license (3288) fined $1,000 for the following violation: Lender did not accurately input borrower’s gross monthly income into the database for a small consumer loan.

World Finance Corporation of Illinois, Carbondale – CILA license (3107) fined $1,000 for the following violations: Lender did not obtain any official documentation of the borrower’s income before making a Small consumer loan.

World Finance Corporation of Illinois, Rockford – CILA license (3277) fined $3,000 for the following violations: Lender did not input information into the database within 90 days after making a Small consumer loan. Lender did not accurately input borrower’s gross monthly income into the database for a small consumer loan.

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Comments ( 2 )
  • Arthur says:

    DO YOU NEED A LOAN….FULL NAME:AMMUNT NEEDED:LOAN DURATION:COUNTRY:STATE:OCCUPATION:CONTACT VIA EMAIL:arthur@mail.com

  • Mike says:

    Unreal! The majority of these fines are due to a failure of basic business operations. An Operations Manual and a few dollars invested in training store-level employees would solve these financial errors.

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