CREDIT REPAIR ORGANIZATIONS Senate SponsorsSen. Sara Feigenholtz-Mike Porfirio, Mike Simmons, Paul Faraci, Laura M. Murphy, Mary Edly-Allen and Karina Villa 1/7/2025SenateSession Sine Die 815 ILCS 505/2Zfrom Ch. 121 1/2, par. 262Z815 ILCS 605/1from Ch. 121 1/2, par. 2101815 ILCS 605/3from Ch. 121 1/2, par. 2103815 ILCS 605/5from Ch. 121 1/2, par. 2105815 ILCS 605/5.5 new815 ILCS 605/6from Ch. 121 1/2, par. 2106815 ILCS 605/7from Ch. 121 1/2, par. 2107815 ILCS 605/8from Ch. 121 1/2, par. 2108815 ILCS 605/9from Ch. 121 1/2, par. 2109815 ILCS 605/11from Ch. 121 1/2, par. 2111815 ILCS 605/14from Ch. 121 1/2, par. 2114815 ILCS 605/15from Ch. 121 1/2, par. 2115815 ILCS 605/17 new815 ILCS 605/10 rep.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. 2/10/2023SenateFiled with Secretary by Sen. Sara Feigenholtz 2/10/2023SenateFirst Reading 2/10/2023SenateReferred to Assignments 2/28/2023SenateAssigned to Financial Institutions 3/7/2023SenateAdded as Chief Co-Sponsor Sen. Mike Porfirio 3/8/2023SenateDo Pass Financial Institutions; 006-002-000 3/8/2023SenatePlaced on Calendar Order of 2nd Reading March 9, 2023 3/9/2023SenateAdded as Co-Sponsor Sen. Mike Simmons 3/9/2023SenateAdded as Co-Sponsor Sen. Meg Loughran Cappel 3/10/2023SenateAdded as Co-Sponsor Sen. Paul Faraci 3/10/2023SenateAdded as Co-Sponsor Sen. Laura M. Murphy 3/17/2023SenateAdded as Co-Sponsor Sen. Elgie R. Sims, Jr. 3/20/2023SenateAdded as Co-Sponsor Sen. Mary Edly-Allen 3/22/2023SenateSenate Floor Amendment No. 1 Filed with Secretary by Sen. Sara Feigenholtz 3/22/2023SenateSenate Floor Amendment No. 1 Referred to Assignments 3/22/2023SenateSponsor Removed Sen. Elgie R. Sims, Jr. 3/23/2023SenateAdded as Co-Sponsor Sen. Karina Villa 3/28/2023SenateSenate Floor Amendment No. 1 Assignments Refers to Financial Institutions 3/29/2023SenateSecond Reading 3/29/2023SenatePlaced on Calendar Order of 3rd Reading March 30, 2023 3/31/2023SenateRule 2-10(a) Third Reading Deadline Established As April 28, 2023 4/28/2023SenateRule 2-10 Third Reading Deadline Established As May 11, 2023 5/11/2023SenateRule 3-9(a) / Re-referred to Assignments 6/26/2023SenateSenate Floor Amendment No. 1 Pursuant to Senate Rule 3-9(b) / Referred to Assignments 12/19/2023SenateSponsor Removed Sen. Meg Loughran Cappel 1/7/2025SenateSession Sine Die