(Chicago, IL) — An Illinois-based payday lender is forgiving three-and-a-half-million-dollars in small high-interest loans to settle a 2014 lawsuit. All Credit Lenders in Elgin has agreed to stop collections and waive balances for more than five-thousand consumers. The suit was brought on by Illinois Attorney General Lisa Madigan following allegations of deceptive fees and costs.
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Colin McIntyre/ikg
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