IL HB3634

Amends the Consumer Installment Loan Act to modify fee structure for the certified database used to track consumer loans

Caps the fee that certified database providers may charge licensees at the lesser of $1 or 0.1% of the loan principal for each loan entered into the database

Requires certified database providers to indemnify licensees against all claims arising from illegal, willful, or wanton acts by the database provider

Prohibits database providers from charging any additional fees or charges to licensees beyond the capped per-loan fee

Takes effect immediately upon becoming law