IL HB4989

Increases application and initial license fees for currency exchanges, sales finance agencies, debt management services, consumer installment lenders, and payday lenders under various Illinois Acts.

Raises annual license fees across multiple financial services: community currency exchanges from $400 to $500, ambulatory currency exchanges from $25 to $500, and establishes tiered renewal fees for sales finance agencies and consumer installment lenders based on transaction volume.

Changes license expiration dates and adds reinstatement fees for expired licenses under the Sales Finance Agency Act, Consumer Installment Loan Act, and Payday Loan Reform Act.

Increases fines for late annual reports from $25 to $500 per day for consumer installment lenders and payday lenders when reports are filed after March 1.

Establishes an initial payday lender license fee of $1,250 and implements a transaction-based renewal fee structure ranging from $500 to $1,675 plus additional amounts based on transaction volume.