Legalized Loan Sharks Lobbied to Repeal Illinois Payday Loan Rate Cap

Shockingly, shady lenders also conduct shady lobbying campaigns

Andy Spears

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Photo by David Clode on Unsplash

The Chicago Sun-Times reports that online lender OppFi engaged in a shadow lobbying campaign to overturn Illinois’ new Predatory Loan Prevention Act (PLPA) which caps interest rates on payday loans at 36%.

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Andy Spears

Writer and policy advocate living in Nashville, TN —Public Policy Ph.D. — writes on education policy, consumer affairs, and more . . .