IL HB5262

Amends the Consumer Installment Loan Act to define "title-secured loan" as specifically a loan less than 12 months in length where the consumer provides physical possession of their motor vehicle title as security

Creates an exemption from the certified database reporting requirement for licensees that already submit loan information to at least one nationwide consumer reporting agency

Requires licensees that do not report to nationwide consumer reporting agencies to enter loan information into the state's certified database and follow Department of Financial and Professional Regulation rules

Maintains existing provisions requiring title-secured loan information be input per administrative code requirements and allowing database providers to charge up to $1 per loan entry