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“Personal installment loans are often a critical lifeline for borrowers with limited credit options, allowing them to pay for unexpected expenses or to consolidate debts.”

- Assistant Attorney General Bill Baer, Justice Department Antitrust Division (2015)

“In both rich and poor countries alike, credit institutions have favored the rich and in so doing, have pronounced a death sentence on the poor… "

- Muhammad Yunus, Banker to the Poor (1999)

“We recognize the need for emergency credit. At the same time, it is important that these products actually help consumers, rather than harm them.”

-Richard Cordray, CFPB, Birmingham, AL (Jan 2013)

“Payday borrowers strongly support requiring the loans to have affordable installment payments.”

- Pew Charitable Trusts

APR Rules on Short-Term Loans are Misleading (Boston Herald)

June 3rd, 2021|0 Comments

A recent opinion piece in the Boston Herald underscored what NILA has consistently pointed out to policymakers, journalists and others – that the requirement to disclose Annual Percentage Rates (APR) for short term loans [...]

Illinois Lending law: Installment Loan Helped Me Get Away From Payday Loan

June 1st, 2021|0 Comments

The Illinois “Predatory Loan Protection Act” has closed has closed down safe and affordable credit options alongside riskier ones. In the latest in a series of videos,  Ms. J, from Effingham, tells how an [...]

Illinois Lending Law: “Gonna really hurt a lot of people.”

May 28th, 2021|Comments Off on Illinois Lending Law: “Gonna really hurt a lot of people.”

The Illinois "Predatory Loan Protection Act" has closed has closed down safe and affordable credit options alongside riskier ones. In our latest in a series of videos, showcasing the opinions of former users of traditional [...]

APR Rules on Short-Term Loans are Misleading (Boston Herald) #installmentloanswork #restorecreditinIL
https://nilaonline.org/2021/06/03/apr-rules-on-short-term-loans-are-misleading-boston-herald/

Illinois Lending law: Installment Loan Helped Me Get Away From Payday Loan #restorecreditinIL

https://nilaonline.org/2021/06/01/illinois-lending-law-installment-loan-helped-me-get-away-from-payday-loan/

2/2 "We must not let the federal government’s outdated financial measures hinder the resilience of American entrepreneurs and consumers in these challenging times". #Illinois #restorecreditinIL #installmentloanswork

https://www.bostonherald.com/2021/04/11/berlau-apr-rules-on-short-term-loans-mislead-consumers/

1/2 "Congress must modernize the APR disclosure mandate from the 1968 federal Truth in Lending Act to account for the true cost of credit for short-term loans and advances." #restorecreditinIL

https://www.bostonherald.com/2021/04/11/berlau-apr-rules-on-short-term-loans-mislead-consumers/

Illinois citizens speak out about new lending law cc. @ILSenDems @ILSenateGOP @HouseDemsIL @ilhousegop #restorecreditinIL #installmentloanswork #consumerfinance #smalldollarloans #NOTpayday

https://nilaonline.org/2021/05/11/illinois-citizens-speak-out-against-new-lending-law-videos/

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