On July 1, 2008 implementation of the Anti-Predatory Lending Database Program will occur by the Department of Financial and Professional Regulation.
The purpose of this program is to reduce predatory lending practices by assisting the borrower in understanding the terms and conditions of the loan for which he or she has applied. The act does not prohibit any type of loan. It is solely the borrower’s decision whether to proceed.
RESOURCES:
IDFPR SB1167 Information Center State of Illinois Anti-Predatory Lending Database Program Web site Predatory Lending Database Program for Cook County Predatory Lending Database Program for Cook County Spanish Version Cook County Predatory Lending Database Program Fact Sheet Cook County Predatory Lending Database Program Fact Sheet Spanish Version