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IL HB2768

Bill

Official Source

Status

Introduced

2/14/2019

Primary Sponsor

Maurice West

Click for details

Origin

House of Representatives

101st General Assembly

AI Summary

  • Amends the Consumer Fraud and Deceptive Business Practices Act by adding Section 2WWW
  • Requires any business or nonprofit organization that extends or offers to extend credit to consumers to provide a disclosure document
  • Disclosure document must explain the interest rate applied, the method of calculating the interest rate, and the actual payments required under the credit terms
  • Violations of this disclosure requirement constitute unlawful practices under the Consumer Fraud and Deceptive Business Practices Act

Legislative Description

EXTENSION OF CREDIT-DISCLOSURE

Last Action

House Committee Amendment No. 2 Rule 19(c) / Re-referred to Rules Committee

3/29/2019

Committee Referrals

Rules3/29/2019
Labor & Commerce2/26/2019
Rules2/14/2019

Full Bill Text

No bill text available