Illinois’ Predatory Loan Prevention Act caps the rate on most covered consumer loans, including payday and installment loans, at 36% APR. Compare the disclosed cost rather than a fee-only headline.
IDFPR advises checking the state license lookup before signing. If a lender required to be licensed is not listed, the Department says the borrower may not have to repay principal, interest, or fees, subject to exemptions.
IDFPR’s Consumer Credit Section regulates payday lenders and investigates complaints. Preserve the lender name, lookup result, contract, and account activity when reporting a potentially unlicensed or unlawful loan.
Official reference: Illinois IDFPR — Consumer Credit. Checked November 11, 2026.