Woodstock Institute Issues Refund Challenge to Illinois Lenders

Consumer finance advocates at the Woodstock Institute are applauding an action by installment lender Oportun that retroactively honors a 36% rate cap on interest for loans in Illinois. The group is now calling on other lenders to follow suit and offer customers refunds. The move comes as the state operates under the Predatory Loan Prevention Act (PLPA), signed into law in Illinois in…

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Andy Spears

Andy Spears

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