Stating that customers deserve heightened defense against predatory lenders, state Rep. Joan Krupa has proposed legislation that will impose stricter guidelines on IllinoisвЂ™ pay day loan industry.
Stating that customers deserve heightened security from predatory lenders, state Rep. Joan Krupa has proposed legislation that will impose stricter guidelines on IllinoisвЂ™ pay day loan industry.
ItвЂ™s the Peoria RepublicanвЂ™s first bill вЂ” and probably her just one.
Krupa, who had been sworn in Jan. 5 to accomplish Aaron SchockвЂ™s term, will act as the 92nd home DistrictвЂ™s agent until noon Wednesday. ThatвЂ™s when Democrat Jehan Gordon, whom overcome Krupa into the Nov. 4 general election, takes the oath of office.
Krupa stated Monday she realizes her legislation, home Bill 6734, canвЂ™t get really far before her departure through the home. But she hopes the lawmakers into the version that is new of General Assembly, which starts its two-year period on Wednesday, will tackle the matter.
Her proposition headed towards the home Rules Committee, the stop that is first all bills introduced inside your home. To be law, it might need certainly to pass the complete home and Senate and get finalized by the governor. But when the present General Assembly concludes, all pending bills will undoubtedly be dead, and any legislation must begin from scratch through the brand new General Assembly.Continue reading