Illinois Lending Security 
CFPB Monitor
APRIL 6, 2021
The Illinois Department of Financial and Professional Regulation (DFPR) has issued Predatory Loan Prevention Act Frequently Asked Questions (PLPA). The bill containing the PLPA also amended the Illinois Consumer Installment Loan Act (CILA) and the Payday Loan Reform Act (PLRA) to apply this same 36% MAPR cap.). Surrender of license.
CFPB Monitor
JUNE 14, 2021
In March 2021, Illinois Governor Pritzker signed into law SB 1792 , which contains the Predatory Loan Prevention Act (the “Act”). The new law became effective immediately upon signing notwithstanding the authority it gives the Illinois Department of Financial and Professional Regulation (“IDFPR”) to adopt rules “consistent with [the] Act.”.
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PYMNTS
MARCH 25, 2019
A federal judge late last week ordered a stay on the August 2019 compliance date tied to the “ payday lending rule ” mandated roughly two years ago by the Consumer Financial Protection Bureau (CFPB). Those firms, noted The Chicago Sun Times , would still be subject to federal laws (and possible prosecution under those laws). “I
Gonzobanker
SEPTEMBER 21, 2023
NYMBUS secured Series D financing (led by Insight Partners), partnered with Hurdlr for small business banking; with Atty Bank, Saint Louis Bank ’s legal community bank; and with Roger, Citizens Bank of Edmond ’s military niche bank. Core10 secured a Series B funding round led by Patriot Financial Partners with JAM FINTOP and the ICBA.
Abrigo
MARCH 31, 2020
Key Takeaways The Small Business Administration (SBA) and Treasury Department released information on how lenders can become eligible to originate Paycheck Protection Program loans under the Coronavirus Aid, Relief, and Economic Security (CARES) Act. Lending & Credit Risk. SBA Lending. Lending & Credit Risk.
PYMNTS
NOVEMBER 23, 2020
While many digital-first companies springboard from payments into lending, Figure Technologies , a FinTech focused on home improvement, debt consolidation and retirement products that leverage blockchain protocols, is branching out from lending into payments. Blockchain and a bank charter might do much to boost financial inclusion.
Independent Banker
JUNE 30, 2022
Here, we highlight some of last year’s most successful loan producers in the areas of agriculture, commercial and consumer/mortgage lending. The score combines the average of the bank’s percentile rank for lending concentration and for loan growth over the past year in each lending category. By Ed Avis. Methodology. AGRICULTURE.
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