CHICAGO
06/29/2009 05:12 am ET Updated May 25, 2011

Payday Lending Reform Defeated By Eight 'Present' Votes

The House Executive Committee rejected Rep. Julie Hamos' (D-Evanston) SB 1435, which would have established reasonable interest rate caps and fair finance charges on these largely-unregulated loans. Eight members of the committee voted "Present."

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