Poll shows consumer support Illinois’ 36% loan rate cap law – Center Square

Woodstock Institute released new polling data that shows overwhelming consumer support for the 36 percent rate cap implemented by the Predatory Loan Prevention Act (PLPA) of 2021. Lawmakers initially intended the law to include pawn shops, but they weren’t specifically mentioned in the act. The Illinois Pawnbrokers Association then won an injunction in Sangamon County Court in Springfield to prevent the law from applying to them.