Illinois Woman Seen as Key to Limits on Payday Industry
By Danielle MasonPayday Loan Writer
Streator, Illinois — Ginny McCauley, a Streator, Illinois woman, was on hand last month as Gov. Rod Blagojevich signed legislation that put stricter limits on the Illinois payday loan industry (House Bill 1100).
McCauley worked for a payday loan company for several years and became dismayed with the interest rates that were offered along with acceptance of payday loans. She stressed that it was not the company she was dismayed with, but the practices of the industry as a whole.
McCauley said that by the time she got involved with the bill about 1-1/2 years ago, a version of it already was being worked on by legislators for the past several years.
“I didn’t realize how long it took for a bill to be put together,�? McCauley said.
For her help in getting the bill to restrict payday cash advances passed, McCauley will be presented with the Monsignor John Egan Campaign for Payday Loan Reform “Vision Award�? on July 28 at the DePaul Student Center in Lincoln Park.
She also was given one of the pens used by the governor to sign the bill into law.
