Last week, Illinois enacted the “Predatory Loan Prevention Act” (SB 1792), which would place a 36% rate cap on nearly all non-bank consumer loans. This act will essentially outlaw small-dollar loans in Illinois and may make...more
In a significant victory for servicemembers and their families, who will again have access to products designed to protect them in the event of a total vehicle loss, the Department of Defense has revised its guidance that...more
New federal legislation introduced in the House and Senate would place a 36% annual percentage rate cap on nearly all consumer loans, potentially killing the small dollar consumer lending industry.
Last month, Congressmen...more
12/20/2019
/ Consumer Financial Products ,
Consumer Lenders ,
Consumer Loan Companies ,
Interest Rate Caps ,
Interest Rates ,
Military Lending Act ,
Military Service Members ,
Predatory Lending ,
Proposed Legislation ,
Truth in Lending Act (TILA) ,
Usury