FinReg + Policy Watch

Latest from FinReg + Policy Watch - Page 2

On March 23, 2021, the Predatory Loan Prevention Act (the “PLPA”) was signed into law by Illinois Governor J.B. Pritzker. The PLPA imposes a 36% military annual percentage rate (“MAPR”) cap on all loans made to Illinois consumers. It applies
Continue Reading Illinois Imposes 36% MAPR Rate Cap on Consumer Loans; Takes Aim at Fintech-Bank Partnerships and Secondary Market Transactions