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HB 1100 Illinois House · 94th Regular Session

PAYDAY LOAN REFORM ACT

Summary
Creates the Payday Loan Reform Act. Provides that the Division of Financial Institutions of the Department of Financial and Professional Regulation shall license and regulate entities that offer payday loans (loans under which a lender accepts a post-dated check, authorization to debit a consumer's bank account, or an interest in a consumer's wages as security for the loan). Establishes requirements and restrictions applicable to license applications and licensing. Contains provisions regarding: limitations, requirements, and disclosures applicable to loan agreements, terms of loans, finance charges, and renewal of loans; revocation, suspension, and surrender of licenses; information to be available to the public; complaint handling; hearings; books and records; reports; advertising; prohibited acts; bonding; administrative rules; and other matters. Amends the Financial Institutions Code to provide for the administration of the Payday Loan Reform Act. Amends the Consumer Installment Loan Act to provide that the Act does not apply to payday loans. Provides that a violation of the Payday Loan Reform Act constitutes a violation of the Consumer Fraud and Deceptive Business Practices Act. Effective immediately.
Bill status signed all 5 stages cleared
Introduction
Apr 2005
Committee Review
May 2005
House Passage
May 2005
Senate Passage
May 2005
Signed into Law
Jun 2005
Introduced Apr 13, 2005 Signed Jun 9, 2005
Floor votes · Senate May 19, 2005 · House May 27, 2005

How they voted

44–1
Passed · 1 other
Total votes 46
May 19, 2005
D Democratic25
25 Yea
100% Yea
R Republican21
19 Yea 1 Nay 1
90% Yea
Vote distribution
All Yea All Nay Mixed No data
Full legislative history

Actions timeline

Total actions
101
Key actions
12
Committee
15
Amendments
14
Jun 9, 2005
Signed into law
Governor Approved
lower
May 27, 2005
Lower · Passed
Passed Both Houses
lower
May 27, 2005
Introduced
Senate Floor Amendment No. 3 House Concurs 116-000-000
lower
May 27, 2005
Lower · Passed
Senate Committee Amendment No. 1 House Concurs 116-000-000
lower
May 24, 2005
Lower · Passed
Senate Floor Amendment No. 3 Motion to Concur Recommends be Adopted Financial Institutions Committee; 021-000-000
lower
May 24, 2005
Lower · Passed
Senate Committee Amendment No. 1 Motion to Concur Recommends be Adopted Financial Institutions Committee; 021-000-000
lower
May 23, 2005
Committee
Senate Floor Amendment No. 3 Motion to Concur Referred to Financial Institutions Committee
lower
May 23, 2005
Committee
Senate Committee Amendment No. 1 Motion to Concur Referred to Financial Institutions Committee
lower
May 20, 2005
Committee
Senate Floor Amendment No. 3 Motion to Concur Referred to Rules Committee
lower
May 20, 2005
Committee
Senate Committee Amendment No. 1 Motion to Concur Referred to Rules Committee
lower
May 20, 2005
Introduced
Senate Floor Amendment No. 3 Motion Filed Concur Rep. David E. Miller
lower
May 20, 2005
Lower · Passed
Senate Committee Amendment No. 1 Motion Filed Concur Rep. David E. Miller
lower
May 20, 2005
Introduced
Placed on Calendar Order of Concurrence Senate Amendment(s) 1,3
lower
May 20, 2005
Introduced
Arrived in House
lower
May 19, 2005
Amended
Senate Floor Amendment No. 2 Tabled Pursuant to Rule 5-4(a)
upper
May 19, 2005
Senate · Passed
Senate Vote: pass (44-1-1)
senate
May 18, 2005
Upper · Passed
Senate Floor Amendment No. 3 Adopted; Collins
upper
May 17, 2005
Introduced
Senate Floor Amendment No. 3 Recommend Do Adopt Financial Institutions; 005-000-000
upper
May 16, 2005
Introduced
Senate Floor Amendment No. 3 Rules Refers to Financial Institutions
upper
May 12, 2005
Committee
Senate Floor Amendment No. 3 Referred to Rules
upper
May 12, 2005
Introduced
Senate Floor Amendment No. 3 Filed with Secretary by Sen. Jacqueline Y. Collins
upper
May 5, 2005
Committee
Senate Floor Amendment No. 2 Referred to Rules
upper
May 5, 2005
Introduced
Senate Floor Amendment No. 2 Filed with Secretary by Sen. Jacqueline Y. Collins
upper
May 5, 2005
Upper · Passed
Do Pass as Amended Financial Institutions; 010-000-000
upper
May 5, 2005
Upper · Passed
Senate Committee Amendment No. 1 Adopted
upper
May 4, 2005
Upper · Passed
Senate Committee Amendment No. 1 Rules Refers to Financial Institutions
upper
May 4, 2005
Committee
Senate Committee Amendment No. 1 Referred to Rules
upper
May 4, 2005
Introduced
Senate Committee Amendment No. 1 Filed with Secretary by Sen. Jacqueline Y. Collins
upper
Apr 21, 2005
Committee
Assigned to Financial Institutions
upper
Apr 13, 2005
Committee
Referred to Rules
upper
Apr 13, 2005
Introduced
Arrive in Senate
upper
Apr 12, 2005
Amended
House Floor Amendment No. 3 Tabled Pursuant to Rule 40(a)
lower
Apr 12, 2005
Amended
House Floor Amendment No. 2 Tabled Pursuant to Rule 40(a)
lower
Apr 8, 2005
Lower · Passed
House Floor Amendment No. 4 Adopted by Voice Vote
lower
0 primary · 28 co-sponsors

Sponsors

No sponsor information available.