Bill Title: Amends the Consumer Installment Loan Act and the Payday Loan Reform Act. Provides that "substantially equal installment" includes a last regularly scheduled payment that is no more than 5% as large as the previous scheduled payment according to a disclosed payment schedule agreed to by the parties. Effective immediately.

Spectrum: Partisan Bill (Democrat 4-0)

Status: (Passed) 2019-08-23 - Public Act . . . . . . . . . 101-0563 [SB1758 Detail]

Text: Latest bill text (Chaptered) [HTML]

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