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PREDATORY
The article “Predatory lending or practical solution?” (Dec. 22) includes this statement: “The legislation would cap interest rates that pawn shops can charge at a 36% annual percentage rate.” So the pawn shop is saying it can’t remain in business, even if it can charge 36% interest? Something isn’t right if you can’t make money charging people that.
Christopher Baxter
Via Facebook.com/illinoistimes
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MISUNDERSTOOD
The problem is that the pawn shop isn’t going to collect anything like a year’s interest, because they’re making small, very short-term loans for a month or two. I’m not an expert, but it makes sense to me that the annual interest rates aren’t the right way to think about these loans.
If my bank wanted to negotiate my mortgage based on a monthly interest rate, they could make it look like an amazing deal, but I’d immediately convert it to an annual rate to judge it better over a 30-year term.
Don Gwinn
Via Facebook.com/illinoistimes
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STEP UP
I was moved by Scott Reeder’s story of a time when he decided he couldn’t help a woman who needed his assistance (“A collective problem,” Dec. 22). Thanks to Scott for the candid reflection and his willingness now to step up whenever called upon. The world needs more people like that.
Gary Davis
Lincoln
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NEED RESIDENTS
If you really want to revitalize downtown, I think the first big step is having nice housing (“Lofts on Madison seeks council approval,” Dec. 15). Getting businesses there is one thing. But having people who can walk right outside their building to support those businesses is crucial, in my opinion.
Chaney Lovellette
Via Facebook.com/illinoistimes
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USE LOCAL DEVELOPER
Not trying to be a critic, but there are surely Illinois companies that would step in with a $5 million (incentive) offer up front. I know the city is being engaged by a New York developer and it’s an opportunity – but we need our own people to do well too.
Nick Tannahill
Via Facebook.com/illinoistimes
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KUDOS TO KEN
What a beautiful article on the career and life of Coach Ken Leonard (“Faith, family and football,” Dec. 15).
Karen Brown
Via Facebook.com/illinoistimes
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GREAT MENTOR
Ken Leonard is a great person and mentor for our kids.
Dale Kridner
Via Facebook.com/illinoistimes
This article appears in Best films of 2022.
