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Wednesday, February 13, 2013

State of Illinois

State issues Illinois Trends Report on Short-term lending


CHICAGO –The Illinois Department of Financial and Professional Regulation today released a Trends Report prepared by the vendor that manages the data-base of all loan transactions for Illinois’ families that use payday loans, short-term consumer loans, title loans and other consumer loan options. 

The report is the first comprehensive look at Illinois borrowing patterns since the summer of 2011, when legislation expanded the existing statewide database that tracks payday loans to also track consumer installment loans. The report, available here, provides historical data on the number of borrowers, the average loan and interest amounts and the number of loans in specific categories.


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