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Bradley Arant Boult Cummings LLP

Illinois Caps Consumer Loans at 36% Rate, Limiting Consumers’ Access to Credit

Bradley Arant Boult Cummings LLP on

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

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