SB 1792 would cap the interest rate on loans at 36% APR Looking for alternatives to high-interest-rate payday or car-title loans? We have a guide for that! Read our Resource Guide on Affordable Alternatives A coalition of more than...
On January 13, the Illinois General Assembly passed legislation creating an Illinois Community Reinvestment Act (IL CRA) to help ensure that state regulated financial institutions better meet the needs of low- and moderate-income neighborhoods, including areas where there is...
Capitol News Illinois, Jan 10 By PETER HANCOCK SPRINGFIELD – As the General Assembly’s lame duck session moved into its third day, lawmakers in both chambers turned their attention to a sweeping bill aimed at narrowing economic disparities faced...
HB 2685, introduced in a special session of the Illinois General Assembly, caps the APR on high-cost debt at the same 36% level that protects active-service military throughout the country
In support of HB 2685 – SFA 3 and specifically the portion of the bill that establishes a 36% cap on consumer loans in Illinois. I took an Uber to the train station yesterday. When I told the driver...
The Chicago area 2019 Community Lending Fact Book identifies local mortgage and small business lending trends in the City of Chicago, Chicago’s 77 community areas, and the seven-county region of Cook, DuPage, Kane, Kendall, Lake, McHenry, and Will counties....
Woodstock Institute requests that the Office of the Comptroller of the Currency (OCC) withdraw its proposed “Fair Access to Financial Services” proposal. This proposed rule inserts the government in countering free market forces, ignores the financial industry’s evolution of...