Heartland Alliance: Historic legislation to prevent predatory loans passing Illinois House
Heartland Alliance: Historic legislation to prevent predatory loans passing Illinois House Heartland Alliance: Historic legislation to prevent predatory loans passing Illinois House SPRINGFIELD, Ill., Jan. 12, 2021 /PRNewswire-PRWeb/ — The Illinois House of Representatives passed the Predatory Loan Prevention Act, which if passed by the Senate, would implement a 36 percent interest rate cap on consumer loans, including payday and car title loans. The legislation passed with a bipartisan vote, without a single member voting no. It is part of an omnibus economic equity bill, one of the Illino...