Stopping Payday Predators Creates Jobs

Andy Spears
2 min readMar 22, 2021

The Woodstock Institute has produced a report indicating that capping payday loan interest rates in Illinois at 36% would create jobs and stimulate economic activity.

According to the Center for Responsible Lending, the maximum rate on small dollar loans (payday, car title) in Illinois is 404%.

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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 . . .