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Sen. Lightford introduces legislation to regulate title loans in Illinois


One thing I am sure about is that we need to do a better job here in Illinois regulating the industry for auto titles We spent about 10 years just ensuring that the payday loan industry was not as egregious as it had been on many families, and now we find ourselves in the same position with the auto title loans

It's disastrous when you lose your car and can't get around and do the things that you really need to do You went to them because you needed help in the first place So, I'll be working with my colleagues on both sides of the aisle in hopes to come up with an opportunity to better regulate this industry Thirty-six percent we know is very fair If you do research and you check across the country you will see that there are many states who have oust them all together or have put them in a position where 36 percent is the number that they are at, and they should be here in Illinois as well

Source: Youtube

Sen. Lightford introduces legislation to regulate title loans in Illinois

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