ABOUT ICCC
The Illinois Consumer Credit Coalition is a member-driven organization comprised of community-based, responsible installment lenders who each hold a Consumer Installment Loan License and are regulated by the Illinois Department of Financial & Professional Regulation, Division of Financial Institutions. The Coalition’s members include lenders who have a demonstrated history of proudly serving Illinois borrowers since the 1970s.
The Coalition strongly believes all Illinois residents, particularly those with nonprime credit, benefit from increased access to quality non-bank credit. The Coalition advocates for an increase in the availability of safe and affordable consumer credit at fair and reasonable rates by supporting strong regulations that will allow more Illinoisans to manage unexpected financial emergencies, build or repair credit, and enjoy the benefits of financial opportunity and mobility. Such regulations will also allow community-based lenders to expand their business in the state, hire more Illinois residents, and contribute in a meaningful way to the state’s revenue and tax base.
The Coalition is dedicated to collaborating with the public, particularly legislators and community advocates, when it comes to legislating, regulating, advocating, and studying consumer credit in Illinois.
MEmbers
OneMain Financial
Regional Management Corp.
Heights Finance Corporation
Mariner Finance
Membership Information
Full Membership
Any person wishing to become a member may file an application in such form as determined by the Board of Directors. Applicants agree to all policy and advocacy positions as outlined on the membership application.
Any request for membership shall be acted upon by the Board of Directors at the next scheduled meeting. Eligible applicants are companies who hold an active Consumer Installment Loan License issued by the Illinois Department of Financial & Professional Regulation, Division of Financial Institutions.
ADVOCACY
By adhering to the principles outlined below, and working with our partners at Third Reading Consulting Group, the Illinois Consumer Credit Coalition strives to create a more equitable, transparent, and consumer-friendly credit environment.
Regulatory & Legislative Advocacy: Engage in advocacy efforts to influence policy and legislation that benefit consumers in the credit market. Collaborate with lawmakers, regulatory agencies, and other stakeholders to promote laws and regulations that enhance consumer protections.
Consumer Empowerment & Education: Prioritize initiatives that empower consumers through education about credit, debt management, and financial literacy. Ensure consumers have access to clear, accurate, and timely information to make informed financial decisions.
Transparency & Fairness: Advocate for greater transparency in the terms and conditions of credit products. This includes clear disclosure of rates, fees, and any penalties.
Access & Inclusivity: Work to ensure equitable access to credit for all individuals, particularly those in underserved and marginalized communities. Address disparities in credit access and strive to eliminate discriminatory practices in credit scoring and lending.
Consumer Protection & Privacy: Champion robust consumer protections that safeguard personal and financial data privacy. Support regulations that protect consumers from fraud, abuse, and deceptive practices.