A lawsuit filed Thursday claims payday loan operations in Illinois are habitually violating the spirit of the law that regulates the industry.

Kevin Johnson was desperate when he took out a $700 loan from Americash. Right at the top of the page, in bold letters, is the annual percentage rate, 365%, and the total he’ll have to hand over to pay off the loan, more than $2600 dollars. Now he’s suing Americash for trying to skirt state regulations set down in the payday loan reform act. That act defines payday loans as anything 120 days or less. Attorney Tom Geoghegan says loan companies have adjusted by giving out loans for 121 days or more.

GEOGHEGAN: These are still payday loans. These are in all business respects the same kinds of loans that were going on before, they should be subject to the same kind of regulation as before.

Geoghegan says he hopes to force Americash to reimburse its customers who paid more than five percent on their loans. Americash’s CEO could not comment on the lawsuit as she had not yet seen it.