Bill Texts: IL SB2135 | 2023-2024 | 103rd General Assembly

Bill Title: Amends the Credit Services Organizations Act. Changes the name of the Act to the Credit Repair Organizations Act. Provides that the Director of Financial and Professional Regulation shall oversee the activities of credit repair organizations and compliance with the Act. Provides that a credit repair organization shall submit a report every 6 months to the Director containing specified information. Provides that the Director may adopt rules necessary to administer the Act. Makes changes in provisions concerning contracts between a buyer and a credit repair organization; registration of credit repair organizations; violations of the Act; and remedies. Repeals provisions concerning surety bonds. Defines terms. Repeals provisions concerning surety bonds. Amends the Consumer Fraud and Deceptive Business Practices Act to make conforming changes. Effective January 1, 2024.

Spectrum: Partisan Bill (Democrat 7-0)

Status: (Introduced) 2023-12-19 - Sponsor Removed Sen. Meg Loughran Cappel [SB2135 Detail]

Bill Drafts

RevisionDateFormatSourceView
Introduced2023-02-10HTML/TextLinkView

Amendments

AmendmentDateDispositionFormatSourceView
Senate Amendment 0012023-03-22ProposedHTML/TextLinkView

Supplemental Documents

TitleDescriptionDateFormatSourceView
No supplemental documents for Illinois SB2135 currently on file.

Social Comments on IL SB2135

feedback