“The Chicago Reporter’s detailed analysis of this data raises huge questions about the fairness of lending practices in the Chicago region. Over the coming months, my office will continue to take a hard look at this data and investigate whether the number of high-cost loans, which generally equate to subprime loans, is attributable to questionable lending practices and whether these practices violate any Illinois fair lending or civil rights laws.”
– Illinois Attorney General Lisa Madigan, quoted in The Chicago Reporter. The Reporter‘s investigation, which is creating some buzz, found that the Chicago metro area leads the nation in “high-cost” loans.
(Visited 40 times, 1 visits today)