“Payday lenders are catastrophically harmful to all kinds of people including our plaintiff Kevin Johnson. They are also the outer edge of the more extreme examples of abusive practices, hidden fees and surprise changes in interest rates that even more respectable lending facilities engage in.”
While Despres, Schwartz & Geoghean pursue justice in the courtroom for victims of predatory lenders, legislative efforts in Springfield appear to have stalled.
Payday lenders in Illinois routinely skirt around the Payday Loan Reform Act by simply extending their loans beyond the length of time that the law considers to be a “payday loan.” Tom’s law firm is filing a class action suit against one of the biggest predatory lenders in the state.
On Tom’s Bookshelf
Barbara Ehrenreich - Blood Rites: Origins and History of the Passions of War
Jefferson Cowie - Stayin' Alive: The 1970s and the Last Days of the Working Class
Simon Johnson and James Kwak - Thirteen Bankers
Richard Rorty - Philosophy and the Mirror of Nature
Olivia Manning - Fortunes of War: the Balkan Trilogy