Wednesday, May 30, 2007

who's hating free enterprise today?

Some buncha Che-loving bureaucrats I never heard of...

CHICAGO | An Internet-based payday loan firm has been ordered to stop issuing loans to Illinois residents and was fined more than $230,000 today by the Illinois Department of Financial and Professional Regulation for issuing a $300 payday loan with an interest rate of more than 2,000 percent. The order and fine were issued against Global Payday Loan, doing business as Payday-Loans-Yes.com, which was ordered to cease operations in the state and pay $234,000 for charging Illinois customers excessive interest rates and violating the Payday Loan Reform Act.

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