Concerning this Policy
We continue steadily to see wealth stripped from communities across Illinois by dangerous and abusive lending options and techniques. These lending options and solutions вЂ“ including payday and automobile name loan providers, money exchanges, unregulated paid-tax preparers, loan companies, and much more вЂ“ subscribe to the economic insecurity of Illinois families and communities. While often marketed in order to weather a storm that is financial to allow it to be to another location paycheck, predatory loans trap individuals in a period of financial obligation that will simply just just take years to recuperate from.
Predatory items disproportionately strip wide range from communities of color, which plays a part in the growing racial wealth divide. Continue reading