iljcar_dec2001_predatorylendingregs.pdfComment letter in support of  proposed
predatory lending regulations to the Joint Committee on Administrative
Rules as introduced in December, 2000 by Gov. George Ryan.
The rules would prohibit lump-sum financed credit life insurance,
require lenders to document that the borrower can repay the loan, limit
prepayment penalties that can trap borrowers in high-cost debt, and
prohibit balloon payments of less than 15 years.  These rules do
not impose an interest rate cap and would allow lenders to price loans
according to risk.