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Amends the Consumer Installment Loan Act. Provides that the certified database provider shall indemnify the licensee against all claims and actions arising from illegal or willful or wanton acts on the part of the certified database provider. The certified database provider may charge a fee not to exceed the lesser of $1 or 0.1% of the loan principal for each loan entered into the certified database. Prohibits the database provider from charging any additional fees or charges to the licensee. Effective immediately.
Introduced
Feb 18, 2025
Last Action
Mar 21, 2025
Session
IL 104th
Sponsors
1 primary · 0 co
Rule 19(a) / Re-referred to Rules Committee
Assigned to Judiciary - Civil Committee
First Reading
Referred to Rules Committee
Filed with the Clerk by Rep. Jawaharial Williams
Get a plain-English explanation of what this bill does, who it affects, and why it matters.
Rule 19(a) / Re-referred to Rules Committee
Jawaharial Williams