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Pay day loans in chicago. The city is also part of a statewide problem though Chicago is home to some of the country’s best museums, universities and art galleries

8 Feb , 2021,
Beth Weissman
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Pay day loans in chicago. The city is also part of a statewide problem though Chicago is home to some of the country’s best museums, universities and art galleries

The city is also part of a statewide problem: predatory lending though Chicago is home to some of the country’s best museums, universities and art galleries. Payday and name loan providers operate rampant in this state, which includes regulation that is little fight them. Lawmakers frequently propose legislation that can help suppress the popularity and spread of those loan providers, however these bills never have fixed the issue.

Just What Illinois and Chicago need is powerful guidelines that allow it to be impossible for loan providers to charge 300% APR for loans that often find yourself costing borrowers 5 times their initial amount.

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