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Online business lenders brace for a legal crackdown in Illinois

from Crain's Chicago Business

Policymakers in Illinois are taking aim at what they say are unscrupulous online lenders taking advantage of small-business owners. Legislation pending in the state Senate would require lenders operating in Illinois to register with the state and clearly disclose to borrowers the interest rates they'd be paying as well as other critical information before clicking to take out a loan. more

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