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Illinois Joins States Capping Customer Loan interest levels at 36per cent. The PLPA contains an exemption for banking institutions such as for example banking institutions and credit unions.

Illinois Joins States Capping Customer Loan interest levels at 36per cent. The PLPA contains an exemption for banking institutions such as for example banking institutions and credit unions. Through the Predatory that is recent Loan Act (PLPA), which imposes a 36% APR limit on interest levels for customer loans under $40,000, Illinois joins 18 other states therefore the District of Columbia in capping interest levels on customer loans at 36% or less. The PLPA covers payday advances, automobile name...

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