Department of Financial and Professional Regulation http://wkms.org en Illinois Governor Signs Payday Lender Law http://wkms.org/post/illinois-governor-signs-payday-lender-law <p>Illinois Gov. Pat Quinn has signed a new law he says will protect consumers from payday lenders.&nbsp; Quinn signed the law Monday.&nbsp; It requires lenders be licensed by the state Department of Financial and Professional Regulation or be charged with a felony. Right now the agency has licensed 522 payday lenders.&nbsp; The new law also protects consumers who are trapped in high-interest loans from having to pay back the debts, allowing such loans to be declared null and void. Tue, 21 Aug 2012 13:52:31 +0000 Todd Hatton & The Associated Press 21057 at http://wkms.org Illinois Governor Signs Payday Lender Law