Attorney General Madigan Files Suit Against Chicago Area Lender for Selling Short-term Loan Designed to Evade State Reforms

by Gary Kopycinski on March 20, 2014

Gary Kopycinski Author

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Attorney General Alleges All Credit Lenders’ Loans Trap Borrowers in Cycle of Debt

Chicago—(ENEWSFP)—March 19, 2014. Attorney General Lisa Madigan filed suit today against a Chicago area short-term lender for designing and selling a new emerging short-term loan intended to thwart important protections in Illinois law against predatory lending and trap borrowers in an inescapable cycle of debt.