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, ...

A settlement has been made with online payday lenders Money Mutual, Partner Weekly and Selling Source, according to a press release from the Illinois attorney general's office. The Illinois Department ...

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 ...

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When Cobi was 23 years old, he had a steady job, but it didn’t pay enough for him to save up and move out of his mom’s place on Chicago’s West Side. He planned on supplementing his income with an ...

SPRINGFIELD, Ill. (AP) -- Lawmakers moved closer to a crackdown on the state's payday loan business Tuesday when the Illinois House voted to cap the size and interest rates of short-term loans. Payday ...

Use this calculator to see your potential payday loan APR. Payday loans can put your finances at risk, so it’s a good idea to compare alternatives. Use this calculator to see your potential payday ...

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 ...

Kiah Treece is a former attorney, small business owner and personal finance coach with extensive experience in real estate and financing. Her focus is on demystifying debt to help consumers and ...

Consolidating high-interest payday loans into one personal loan can help ease a debt burden. This page includes information about these cards, currently unavailable on NerdWallet. The information has ...