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Home » Store » Taxable » Illinois Anti-Abuse Bill Could Hurt Credit, Lenders Warn

Illinois Anti-Abuse Bill Could Hurt Credit, Lenders Warn

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Add Illinois to the list of markets where a new predatory lending law could make it more expensive for subprime lenders to do business in the months ahead. At a ceremony held in front of a vacant South-Side Chicago home that was reportedly repossessed by a predatory lender, Democratic Gov. Rod Blagojevich last month signed SB 1784, a bill that places new restrictions on high-cost mortgages.
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