The Predatory Loan Prevention Act that passed in 2021 instituted a 36% APR interest rate cap on loans, but some pawnbrokers still charge over 200% for loans. A judge in Sangamon County Circuit Court granted pawnbrokers an injunction in September 2021 allowing them to continue charging higher interest rates.
Some pawn brokers are nothing but fences for Stolen’d property. The people never intend on paying the interest or picking up the items. Then the pawn store sells it on Ebay. The looser is the taxpayer who pays much higher insurance costs.
Giddyap
3 years ago
Democrats are like drug pushers trying to hook their customers on heroin and crush the competition — by hooking the poor on welfare and eliminating lenders of last resort
Stewie the Roof Baby
3 years ago
It’s not that brokers charge 200% interest, it’s that fools pay 200% interest
Some pawn brokers are nothing but fences for Stolen’d property. The people never intend on paying the interest or picking up the items. Then the pawn store sells it on Ebay. The looser is the taxpayer who pays much higher insurance costs.
Democrats are like drug pushers trying to hook their customers on heroin and crush the competition — by hooking the poor on welfare and eliminating lenders of last resort
It’s not that brokers charge 200% interest, it’s that fools pay 200% interest