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The Latest : Financial Reform & Predatory Lending Reform

Illinois Payday Loan Reform Legislative Fact Sheet

Date: 
02/17/2011

 

Learn more about Payday Loan Reforms.  Read the Illinois Payday Loan Reforms Legislative Fact Sheet.

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Woodstock Institute Payday Loan Reform Policy Brief

Date: 
02/17/2011

 

Read the Woodstock Institute Payday Loan Reform Policy Brief.

 

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Egan Coalition celebrates Payday Loan reform; warns of The Grinch!

Date: 
12/13/2010
See video

Members of the Monsignor John Egan Campaign for Payday Loan Reform, including representatives from Citizen Action/Illinois, Project IRENE, Protestants for the Common Good, Sargent Shriver National Center on Poverty Law, and Woodstock Institute, and Secretary Brent Adams of the Illinois Department of Financial and Professional Regulation gathered outside a downtown payday loan store on Monday, December 13 with a real-life payday Grinch to sing carols warning holiday shoppers of the dangers of costly payday installment loans.

Don’t let the Grinch steal your holidays!

Date: 
12/06/2010

Campaign warns consumers of the dangers of payday loans

Governor Quinn signs landmark payday loan reforms

Date: 
06/21/2010

Legislation promises end of 700 percent rates, crack down on worst abuses

Landmark payday loan reforms pass General Assembly

Date: 
05/26/2010

Consumer advocates say landmark payday loan reforms accomplish goal of ending 700 percent loans, breaking cycle of debt

SPRINGFIELD—High-cost consumer credit, extended with no consideration of a borrower's ability to pay it back, has stripped billions in wealth from Illinois communities since the beginning of the economic crisis.  While lending reform is still being debated in Washington,  the Illinois General Assembly  passed strong consumer protections designed to cap rates for the often controversial payday lending industry.

Sen. Durbin stands with Citizen Action/Illinois to call for financial reform

Date: 
04/23/2010

On Friday April 23rd, Senator Durbin joined with Americans for Financial Reform, the Woodstock Institute, Illinois PIRG,  Illinois Main Street Alliance and Citizen Action/Illinois at a news conference across the street from the Federal Reserve Bank. The press conference called for passage of Wall Street reform legislation set to be debated next week in the Senate. Senator Durbin called on the Senate to pass legislation that will stop Wall Street from gambling with America's financial security.