I would tend to agree with you Richard. This could still hurt the people of Cook County. Now that it seems like no credit score is even asked I would question it if I was an 800 FICO.
What is blago thinking? First this now he wants to tax gross receipts too! It all taxes the consumer in the long run and pushes business out of the state.
pleasse pass this info on for those who would like to comment on the new law:
The Department has filed new rules pertaining to the Illinois predatory Lending Database Pilot program, also known has HB4050. There is a 45 day comment period beginning April 6, 2007 (contingent upon publication in the Illinois Register)during which industry groups, advocates and other members of the public may file comments or request a public hearing. The Department will review all of the comments submitted. Therefore interested parties may submit written comments to:
Craig Cellini Rule Administrator Illinois Department of Financial and Professional Regulation 320 W. Washington Springfield IL 62786
Comments must be submitted on or before May 21, 2007.
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Bad Blago! This looks to be very painful for all of Cook County!