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State AG alleges lender violated Dodd-Frank abusive practices ban
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Consumer Protection
Friday, March 28, 2014
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The Illinois attorney general has sued a short-term lender for alleged violations of Dodd-Frank’s ban on abusive practices. State AG Lisa Madigan said the Chicago-area firm offers a loan product designed to sidestep state predatory lending laws and trap unwitting borrowers in an inescapable cycle of debt. Read on to learn about the AG’s Dodd-Frank claims.
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