Illinois Administrative Code
Title 38 - FINANCIAL INSTITUTIONS
Part 210 - PAYDAY LOAN REFORM ACT
Appendix A - Disclosure of 36% Rate Cap

A lender shall not contract for or receive charges exceeding a 36% annual percentage rate on the unpaid balance of the amount financed for a loan, as calculated under the Illinois Predatory Loan Prevention Act (PLPA APR)

Any loan with a PLPA APR over 36% is null and void, such that no person or entity shall have any right to collect, attempt to collect, receive, or retain any principal, fee, interest, or charges related to the loan.

The annual percentage rate disclosed in any loan contract may be lower than the PLPA APR.

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Borrower Signature

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Co-Borrower Signature (If Applicable)

Added at 46 Ill. Reg. 6550, effective 8/1/2022