The industry responded by producing a brand new item: a 31-day loan. “That permitted them to have all over guidelines,” DeLaforgue says.

The industry responded by producing a brand new item: a 31-day loan. "That permitted them to have all over guidelines," DeLaforgue says. So that the coalition started pushing for brand new guidelines. In 2005 then-governor Rod Blagojevich finalized the pay day loan Reform Act, that has been sustained by both the Community Financial Services Association—a…
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