Pawn Shop charged more than 240% APR on pawn loan to active-duty servicemember *Interviews available upon request* SPRINGFIELD – The State’s chief regulatory agency, the Illinois Department of Financial and Professional Regulation (IDFPR), today handed down disciplinary action to...
Industry-backed bill HB1519 would codify some of the lending industry’s worst practices – establishing interest rates exceeding 20% for private student loans For Immediate Release: April 26, 2023 Contact: Brent Adams | badams@woodstockinst.org | (773) 844-5544 Anusha Thotakura |...
Pawnbrokers and their lobbyists stopped the Illinois General Assembly from passing legislation that would have made it illegal for pawn shops to charge triple-digit interest rates on consumer loans, despite the passage of the 2021 Predatory Loan Prevention Act...
Faith leaders held a press conference December 23 to caution consumers about turning to predatory loans over the holidays.
Download our latest Close the Pawn Broker Loophole Fact Sheet and read the release for a November 30 news conference. The release highlights progress in Springfield toward capping pawn broker rates and fees at 36% under the Predatory Loan...
For Immediate Release: September 27, 2022 Contact: Brent Adams | 773-844-5544 Jane Doyle | 708-527-7568 Predatory Lenders’ Predictions of Gloom-and-Doom Fail to Materialize as Consumers Embrace Illinois’s Interest Rate Cap ILLINOIS – To test predatory lenders’ claims about the...
In just one year, Illinois consumers have saved over $200 million in fees for high-cost loans, and families in underserved communities are finding safer alternatives for accessing cash
Capping payday loan interest rates worked, allowing more wealth to stay in communities as consumers find new sources of fast cash.
A new report describes how TAB Bank helps predatory lender EasyPay make high-interest puppy loans. Woodstock Institute is teaming up with national consumer and animal welfare advocates to launch a campaign to stop TAB Bank from helping EasyPay gouge...
Letter Identifies Six Out-of-State “Rogue Banks” that Enable Predatory Lenders to charge 100%+ Interest in States with Rate Caps