MEMORANDUM OPINION AND ORDER
BUCKLO, District Judge.
Check `N Go of Illinois made "payday loans" — short term loans at high annual interest rates of over 500% — to impecunious borrowers, and took as "security" postdated checks due on the debtors' next payday. The plaintiffs sued for statutory damages under the Truth in Lending Act, 15 U.S.C. § 1601, et seq. ("TILA") and Regulation Z, 12 C.F.R. §§ 226.17-18
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