News About the Ever-Changing Payday Advance Industry
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Members of an Illinois legislative committee blocked Gov. Rod Blagojevich's administration from imposing restrictions on short term payday loans and complained that the agency director pushing for the highly-touted change was politicizing…
Two lawmakers from Chicago's south suburbs will be instrumental in helping shepherd the rules proposed by Illinois Gov. Rod Blagojevich to toughen payday loan practices.
Illinois Governor, Rod Blagojevich, is serious about ridding his state of payday loans. However, after passing new consumer protections on the cash advances throughout the state, he witessed an unfortunate consequence:
Thursday, the Blagojevich administration and Attorney General Lisa Madigan took action against a payday loan company that they allege is in violation of numerous consumer protection laws.
A Sangamon County (Ill.) judge halted the state's attempt to revoke the licenses of four payday loan companies that officials said were trying to circumvent payday lending reforms enacted last year, reports the Lincoln Courier.
As the Illinois legislature debates the issuse of payday loans, an ordinance to extend the moratorim on issuing cash advances was approved last week by City Council members.