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Article: Brickyard of Ill. Pressured Over Payday Lending.(Brickyard Bank partnership with Check 'n Go protested)(Brief Article)
- Article from:
- American Banker
- Article date:
- August 5, 2002
- Author:
CopyrightCOPYRIGHT 2002 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Activists in Illinois are urging federal regulators to downgrade the Community Reinvestment Act rating of Brickyard Bank in Lincolnwood as punishment for its relationship with payday lender Check 'n Go.
Since September, $192 million-asset Brickyard has partnered with the Mason, Ohio, lender to make short-term, high-interest loans in North Carolina. Teaming up with a national bank was the only way Check 'n Go could continue lending in North Carolina after a state law that permitted payday lending expired in August 2001.
Now a coalition called the Monsignor John Egan Campaign for Payday Loan Reform, a vocal opponent of such partnerships, is putting pressure ...