Archive for February 2013

Payday Loans May Include Baloney Sandwiches

Payday Loans May Include Baloney Sandwiches
Recent changes in the law leaves the door open for overly aggressive tactics and creates new risks for borrowers who fall on hard times. One reason Chicagoan’s should steer clear of small dollar, short-term payday type loans is because they can “get you a baloney sandwich in jail,” says Attorney John Lag, Adjunct Law Professor... Read more »

Payday Loans Lead to Financial Instability Zones

Payday Loans Lead to Financial Instability Zones
Increasing enforcement capabilities through the Department of Business Affairs & Consumer Protection is part of the new reforms Mayor Rahm Emanuel hopes will provide a measure of protection from predatory financial services that have continued to proliferate within the city. Chicago’s most vulnerable families are the focus of the Mayor’s recently announced crackdown on bad... Read more »