MEDIA AVAILABILITY:
Blagojevich’s holiday consumer credit education campaign to target Logan Square shoppers

Director of Financial Institutions will greet shoppers and pass out debt management information

CHICAGO – As the Governor’s consumer credit education campaign is rolled-out tomorrow, the Director of the Department of Financial Institutions, Roxanne Nava, will be available to talk to Logan Square shoppers about how to avoid becoming victims of fraudulent debt management services.

Gov. Blagojevich launched a consumer education campaign this holiday season to help shoppers who take on excessive debt know where to look for help and how to avoid deceitful credit counseling services. The state is bringing its debt counseling education materials and information to malls across Illinois from Wednesday, Dec. 17, until Tuesday, Dec. 23. Booths staffed by members of the Illinois Department of Financial Institutions’ Consumer Credit Division will provide consumers with contact information on licensed debt management services, and their rights as consumers.

Since July, the IDFI has shut down 67 companies for not performing debt management services, even though that is what they purported to be. An additional 16 companies – with a combined total of 2,389 Illinois customers – have been penalized for operating without licenses and for violating a number of Illinois regulatory rules, including failure to disclose all fees and terms and exceeding the permitted limit on fee amounts. The companies have been forced to pay more than $10,000 in restitution to consumers and more than $66,000 in penalties.

WHO: Roxanne Nava, Director of the Dept. of Financial Institutions
WHAT: Media Availability about Governor’s Holiday Consumer Education Campaign
WHEN: Wednesday, Dec. 17, 11:00 a.m.
WHERE: Mega Mall, 2502 N. Milwaukee Ave., Chicago