Illinois Payday Loan Reform Act SB 1435 is redundant. Illinois payday loan lenders already disclose fee schedules, APR – Annual Percentage Rates, any balloon payments due, payment due dates and much, much more.
If any of these “protect us from loan sharks” advocates would simply visit a payday loan store, read the disclosures on the walls, take a look at the 14pt fonts on a typical contract and, MOST IMPORTANTLY, talk to a real, live payday loan customer, they would focus on building our economy via jobs and not more restrictions.
Western Sky loan documents “Terms of Use” state the business is owned by the Cheyenne Tribe on Tribal land. The website states the business is not owned by the tribe and is located on the “exterior” boundaries. He closed the office on 9/3/2013 but moved accounts to Delbert Services aka Cash Call to avoid getting a license in some states. The Cheyenne Sioux Tribe has not signed a resolution to support him. If you call 18669714477 or 18663847129 they handle Western Sky accounts. So, its business as usual for him.