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Illinois has joined the growing number of states that have restricted high-cost payday loans, but it’s taken a different path to get there: state house. Illinois Governor JB Pritzker (D) signed a law on March 23 that caps interest rates on payday loans, auto title loans and installment loans at 36%. Similar efforts in other …

An invoice addressed to Tennessee Gov. Bill Lee’s office allows some lenders to increase service and maintenance fees and add additional closing costs on some fixed installment loans. Credit: Adobe Stock Low-income borrowers will be disproportionately burdened by a bill passed by the Tennessee Senate on Monday, critics said, that will increase the fees lenders …

Select’s editorial team works independently to review financial products and write articles that our readers will find useful. We may receive a commission when you click on product links from our affiliate partners. The idea that your student loans have little impact on your credit score is a common myth. The two accounts that regularly …