Bill Text: IL HR0584 | 2011-2012 | 97th General Assembly | Introduced
Bill Title: Encourages Bank of America and other national banks that have, or are considering implementing a punitive fee for debit card usage, to reconsider that fee and instead try to build businesses that reward customers who make sound financial decisions.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Failed) 2013-01-08 - Session Sine Die [HR0584 Detail]
Download: Illinois-2011-HR0584-Introduced.html
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| 1 | HOUSE RESOLUTION
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| 2 | WHEREAS, Millions of Americans are struggling just to get | ||||||
| 3 | by during these tough economic times, and the many who have | ||||||
| 4 | been fortunate to avoid job loss and foreclosure are working to | ||||||
| 5 | pay off and avoid accruing further consumer debt; and
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| 6 | WHEREAS, One of the most effective ways to avoid debt is | ||||||
| 7 | for consumers to stop using credit cards, and the most | ||||||
| 8 | convenient way to make purchases without using credit is to use | ||||||
| 9 | a bank debit card; and
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| 10 | WHEREAS, Bank of America recently announced that it would | ||||||
| 11 | soon begin charging customers $5 per month to use their debit | ||||||
| 12 | card, and other major banks have already followed suit; and
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| 13 | WHEREAS, During these trying times when individuals, as | ||||||
| 14 | well as small and large businesses, are trying to change their | ||||||
| 15 | financial behaviors to eliminate debt and emerge from this | ||||||
| 16 | ongoing recession in a stronger position, charging fees for | ||||||
| 17 | smart financial decisions will only penalize those behaviors | ||||||
| 18 | and may cause vulnerable consumers to continue spending on | ||||||
| 19 | credit; and
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| 20 | WHEREAS, Banks that received public financing and bailouts | ||||||
| 21 | to remain solvent should lead the way to a new financial | ||||||
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| 1 | paradigm, one that encourages smart financial behaviors that | ||||||
| 2 | could prevent future economic uncertainty; therefore, be it
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| 3 | RESOLVED, BY THE HOUSE OF REPRESENTATIVES OF THE | ||||||
| 4 | NINETY-SEVENTH GENERAL ASSEMBLY OF THE STATE OF ILLINOIS, that | ||||||
| 5 | we encourage Bank of America and other national banks that | ||||||
| 6 | have, or are considering implementing a punitive fee for debit | ||||||
| 7 | card usage, to reconsider that fee and instead try to build | ||||||
| 8 | businesses that reward customers who make sound financial | ||||||
| 9 | decisions; and be it further
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| 10 | RESOLVED, That a suitable copy of this resolution be | ||||||
| 11 | delivered to the Bank of America Corporation.
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