The industry reacted by producing a brand new item: a 31-day loan. “That permitted them getting round the rules,” DeLaforgue states.

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The industry reacted by producing a brand new item: a 31-day loan. “That permitted them getting round the rules,” DeLaforgue states. And so the coalition started pressing for brand new guidelines. In 2005 then-governor Rod Blagojevich finalized the pay day loan Reform Act, that was supported by both the Community Financial Services Association—a nationwide trade […]

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