COMMERCIAL LOANS-INTRST LIMIT
Summary
Amends the Illinois Banking Act, the Illinois Savings and Loan Act of 1985, the Savings Bank Act, and the Illinois Credit Union Act. Provides that a bank, savings and loan association, savings bank, or credit union organized under the laws of this State must not make commercial loans with an effective annual percentage rate of more than 9% available to a borrower. Effective immediately.
Bill status
failed
1 of 4 stages cleared
Introduction
Feb 2009
Committee Review
Floor Vote
Governor
Introduced Feb 18, 2009
Last action Jan 11, 2011
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
8
Key actions
0
Committee
5
Jan 11, 2011
House · Failed
Session Sine Die
Mar 13, 2009
House · Referred to committee
Rule 19(a) / Re-referred to Rules Committee
Mar 3, 2009
House · Reported by committee
Remains in Financial Institutions Committee
Mar 3, 2009
House · Failed in committee
Motion Do Pass - Lost Financial Institutions Committee; 007-012-003
Feb 23, 2009
House · Referred to committee
Assigned to Financial Institutions Committee
Feb 19, 2009
House · Referred to committee
Referred to Rules Committee
0 primary · 1 co-sponsor
Sponsors
Role
Legislator
Party
State
District
Co
Kevin Joyce
DDemocratic
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