Bill Sponsors: IL HB3461 | 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 9-0)

Status: (Introduced) 2023-10-31 - Added Co-Sponsor Rep. Will Guzzardi [HB3461 Detail]

Text: Latest bill text (Engrossed) [HTML]

Sponsors

NameTypeSponsorshipDistrictFinancialEncyclopediaBiography
Representative Debbie Meyers-Martin [D]PrimarySponsored BillsHD-038FollowTheMoneyBallotpediaVoteSmart
Representative Rita Mayfield [D]CosponsorSponsored BillsHD-060FollowTheMoneyBallotpediaVoteSmart
Representative Elizabeth Hernandez [D]CosponsorSponsored BillsHD-002FollowTheMoneyBallotpediaVoteSmart
Representative Theresa Mah [D]CosponsorSponsored BillsHD-024FollowTheMoneyBallotpediaVoteSmart
Representative Joyce Mason [D]CosponsorSponsored BillsHD-061FollowTheMoneyBallotpediaVoteSmart
Representative William Davis [D]CosponsorSponsored BillsHD-030FollowTheMoneyBallotpediaVoteSmart
Representative Emanuel Welch [D]CosponsorSponsored BillsHD-007FollowTheMoneyBallotpediaVoteSmart
Representative Camille Lilly [D]CosponsorSponsored BillsHD-078FollowTheMoneyBallotpediaVoteSmart
Representative Will Guzzardi [D]CosponsorSponsored BillsHD-039FollowTheMoneyBallotpediaVoteSmart

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