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Internet or telephone, in which: (1) a lender accepts one or more checks dated on <br /> the date written and agrees to hold them for a period of days before deposit or <br /> presentment, or accepts one or more checks dated subsequent to the date written <br /> and agrees to hold them for deposit; or (2) a lender accepts an interest in a <br /> consumer's wages, including, but not limited to, a wage assignment; <br /> "Small consumer loan" means a loan upon which interest is charged at an <br /> annual percentage rate exceeding 36% (as defined by 815 ILCS 122/1-5) and with <br /> an amount financed of $4,000 (four thousand dollars) or less. "Small consumer <br /> loan" does not include a title-secured loan as currently defined by the Illinois <br /> Consumer Installment Loan Act or a payday loan as currently defined by the <br /> Payday Loan Reform Act. A small consumer loan shall be fully amortizing and be <br /> repayable in its entirety in a minimum of 6 substantially equal and consecutive <br /> payments with a period of not less than 180 days to maturity. <br /> "Car title loan" means a small consumer loan in which the borrower's car <br /> title is used as collateral. <br /> i <br /> PRESENTED and ADOPTED this 21"day of Febru , 2012. <br /> t � <br /> MI 'HAEL T. IC ELROY, MA O <br /> ATTEST: <br /> D <br /> Celeste F. Harris, City Clerk <br />