MADIGAN CRACKS DOWN ON UNLICENSED, PREDATORY PAYDAY LENDERS
Attorney General, Department of Financial & expert Regulation do something Against on the web Payday Lenders & Lead Generator Promoted by Talk Show Host Montel Williams
Chicago вЂ” Attorney General Lisa Madigan today filed five legal actions in a sweep cracking down on unlicensed, online payday lenders and that loan lead generator promoted by talk show host Montel Williams for illegally providing costly, predatory loans that trap Illinois borrowers in exorbitant, cyclical financial obligation lots.
Madigan filed legal actions this week in Cook County Circuit Court with respect to the Illinois Department of Financial and Professional Regulation (IDFPR) against four out-of-state payday lenders being running solely online, attempting to sell pay day loans racked with costs which can be twice the quantity permitted under state legislation. The legal actions allege BD PDL Services LLC, Mountain Top Services we LLC, Red Leaf Ventures LLC and VIP PDL solutions LLC charged Illinois borrowers $30 for every single $100 loaned and permitted borrowers to get loans that are multiple when.Read More