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Article: Brickyard Bank targeted for payday loan support
- Article from:
- Lincolnwood Review (IL)
- Article date:
- April 18, 2002
CopyrightCopyright 2002, Lincolnwood Review, Pioneer Press. All rights reserved. REPRODUCTION PROHIBITED. (Hide copyright information)
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Two dozen protesters last Thursday demonstrated outside Brickyard Bank's Lincolnwood headquarters because of the bank's relationship with a payday lending service charging high interest rates.
Members of the Chicago-based Egan Campaign for Payday Loan Reform say the Brickyard Bank underwrites loans from Check 'n Go in North Carolina, a lender charging an annual percentage rate of 460 percent.
"The majority of people who are taken advantage of by this predatory lending are working-class people, the poor and people who are living paycheck to paycheck," said Malik Cabral, coordinator for the campaign.
According to the group, Brickyard is the only bank in Illinois that has a relationship ...