Bill Text: IL HB3752 | 2009-2010 | 96th General Assembly | Introduced

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Bill Title: Amends the Illinois Banking Act. Provides that, on and after the effective date of the amendatory Act, any bank chartered under the Act that does business with the State must not offer either (i) No Income No Asset Loans or (ii) No Income, No Job, and No Asset Loans to customers or prospective customers.

Spectrum: Partisan Bill (Democrat 6-0)

Status: (Introduced - Dead) 2009-04-03 - Rule 19(a) / Re-referred to Rules Committee [HB3752 Detail]

Download: Illinois-2009-HB3752-Introduced.html

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96TH GENERAL ASSEMBLY State of Illinois 2009 and 2010 HB3752 Introduced 2/25/2009, by Rep. Jehan A. Gordon SYNOPSIS AS INTRODUCED:
205 ILCS 5/32.2 new
Amends the Illinois Banking Act. Provides that, on and after the effective date of the amendatory Act, any bank chartered under the Act that does business with the State must not offer either (i) No Income No Asset Loans or (ii) No Income, No Job, and No Asset Loans to customers or prospective customers.
LRB096 09960 MJR 20124 b
A BILL FOR
HB3752 LRB096 09960 MJR 20124 b
AN ACT concerning financial regulation.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The Illinois Banking Act is amended by adding
Section 32.2 as follows:
(205 ILCS 5/32.2 new)
Sec. 32.2. State business; prohibition on No Income, No
Job, and No Asset Loans. On and after the effective date of
this amendatory Act of the 96th General Assembly, a bank
chartered under this Act that does business with the State must
not offer either (i) No Income No Asset Loans (NINA Loans) or
(ii) No Income, No Job, and No Asset Loans (NINJA Loans).