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Ill. Legislature Passes Critical Protections to Halt Abusive High-Cost Loans

Release Date: 
January 13, 2021

January 13, 2021

For Immediate Release:

Ill. Legislature Passes Critical Protections to Halt Abusive High-Cost Loans

Today, both chambers of the Illinois General Assembly passed theĀ Predatory Loan Prevention Act in SB1792,which would prohibit lenders in Illinois from charging more than 36% APR on consumer loans. Gov. Pritzker is expected to sign it into law.

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