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

Revision	Date	Format	Source	View
Introduced	2023-02-10	HTML/Text	Link	View

Amendments

Amendment	Date	Disposition	Format	Source	View
Senate Amendment 001	2023-03-22	Proposed	HTML/Text	Link	View

Supplemental Documents

Title	Description	Date	Format	Source	View
No supplemental documents for Illinois SB2135 currently on file.

Social Comments on IL SB2135