Loading
Loading
Your feedback directly shapes Sporos.
Sign in to track your feedback history
Creates the Buy-Now-Pay-Later Loan Regulation Act. Provides that it is unlawful for a person to act as a buy-now-pay-later lender unless the person registers with the Division of Financial Institutions of the Department of Financial and Professional Regulation. Sets forth requirements for registration; duties and powers of the Secretary of Financial and Professional Regulation; and administrative procedures. Provides that a buy-now-pay-lender shall provide specified disclosures to recipients. Provides that a violation of the Act constitutes an unlawful practice under the Consumer Fraud and Deceptive Business Practices Act. Amends the Consumer Fraud and Deceptive Business Practices Act to make a conforming change.
Introduced
Feb 5, 2026
Last Action
Mar 13, 2026
Session
IL 104th
Sponsors
1 primary · 1 co
Added as Co-Sponsor Sen. Michael W. Halpin
Senate Committee Amendment No. 1 Adopted
Placed on Calendar Order of 2nd Reading March 12, 2026
Do Pass as Amended Judiciary; 009-000-000
Senate Committee Amendment No. 1 Assignments Refers to Judiciary
Senate Committee Amendment No. 1 Referred to Assignments
Senate Committee Amendment No. 1 Filed with Secretary by Sen. Michael E. Hastings
Assigned to Judiciary
Filed with Secretary by Sen. Michael E. Hastings
Referred to Assignments
First Reading
Get a plain-English explanation of what this bill does, who it affects, and why it matters.
Added as Co-Sponsor Sen. Michael W. Halpin
Michael E. Hastings
Michael W. Halpin