The purpose of this Act is to protect consumers who enter into payday loans and to regulate the lenders of payday loans. This Act shall be construed as a consumer protection law for all purposes. This Act shall be liberally construed to effectuate its purpose.
815 ILCS 122/1-5
Purpose and construction
Known as the Payday Loan Reform Act
The act spans §§ 815-122-1-1 to 815-122-1-5 (4 sections).
P.A. 94-13, eff. 12-6-05.
Official source: Illinois General Assembly. Reproduced from public-domain Illinois statutes; confirm against the official source for the current text. Not legal advice.