Legalized Loan Sharks Lobbied to Repeal Illinois Payday Loan Rate Cap

Shockingly, shady lenders also conduct shady lobbying campaigns

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%.