A couple weeks ago, the administration of the 45th president announced it is reversing a regulation devised by the Obama administration on payday lenders to make the loans less risky and onerous on ...

Illinois, which has nearly as many registered short-term lenders (548) as it has McDonald's stores, is one of 11 states that allow payday loans with unlimited fees. A battle has developed in ...

Could there be unintended consequences to ending the payday loan industry in Illinois? Legislation awaiting the governor’s signature could shut down the payday lending industry in Illinois, but payday ...

SPRINGFIELD -- On average, Illinois payday loan businesses charge a 520 percent interest rate, but one state senator has introduced legislation to cap that at 36 percent. Advocates for the industry, ...

SPRINGFIELD — In another triumph for the Illinois Legislative Black Caucus, Gov. J.B. Pritzker signed four pieces of legislation Tuesday meant to address systemic economic inequity in Black and brown ...

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Why are we asking for donations? Why are we asking for donations? This site is free thanks to our community of supporters. Voluntary donations from readers like you keep our news accessible for ...

Seeking to stop the cycle of unsophisticated borrowers getting trapped in a recurring cycle of debt, multiple states have imposed regulations on payday lenders in recent years – regulations that will ...

The Illinois state legislature passed a bill Thursday that will impose a 36% interest rate cap on all consumer loans, including payday and car title loans. Illinois becomes the 18 th state plus the ...

SPRINGFIELD — Four years ago, lawmakers and consumer advocates approved legislation aimed at reforming the payday loan industry in Illinois and keeping people from falling into too much debt. They ...