WCIA TV host presents pawn loophole story

WCIA: Illinois Lawmakers considering legislation to close interest rate loophole for pawn shops

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Woodstock in the News

SPRINGFIELD, Ill. – Jazmine was laid off during the pandemic and needed money to pay her rent. So she got a loan from a pawn shop using her cameras and Macbook Air as collateral.

“Not only did they give me $800, but they also low balled me because I had to come back two days later, and I got another loan, both of them high APR rates of 150%, which I had no knowledge of, they never broke down what would happen,” Jazmine, a social media influencer and digital content creator, said.

Read more on WCIA website

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