Tag: Illinois Payday Loan

23
Jan

Illinois Payday Loan Law Reform SB 1435 Redundant

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.