West Virginia Best Online Payday Loans

Payday loan provider sues to block Illinois that is new legislation

November 26, 2020

Payday loan provider sues to block Illinois that is new legislation (Crain's) — With last year’s landmark pay day loan reform law set to simply just take impact Monday, a loan provider has sued to get rid of enforcement of a part that is key of measure, claiming it is unconstitutional. Illinois Lending Corp., which includes six Chicago-area places making payday and installment loans to consumers, claims in its lawsuit, filed Monday in Cook County Circuit Court, that its company is likely to be irreparably harmed by the legislation's provision barring businesses that provide pay day loans — short-term short term loans geared towards allowing strapped customers payday loans West Virginia to spend bills due before their next paycheck — from making installment loans, somewhat longer-term borrowings. The lawsuit, that was assigned to Cook County Circuit Court Judge Carolyn Quinn, claims the prohibition violates the business's constitutional protections of due procedure and protection that is equal.
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