SHORT-TERM LOAN ACT House SponsorsRep. James H. Meyer-Sandra M. Pihos 1/9/2007HouseSession Sine Die New Act20 ILCS 1205/8from Ch. 17, par. 109815 ILCS 505/2Efrom Ch. 121 1/2, par. 262E Creates the Short-term Loan Act. Provides for the regulation of entities that make payday loans and motor vehicle title loans having a term of fewer than 93 days and in an amount that does not exceed $1,000. Limits charges that may be imposed in connection with the loans. Requires lenders to obtain a license from the Director of the Division of Financial Institutions in the Department of Financial and Professional Regulation. Amends the Financial Institutions Code to require the Director of the Division of Financial Institutions to establish a complaint registry regarding licensees under the Short-term Loan Act. Amends the Consumer Fraud and Deceptive Business Practices Act to provide that 3 or more violations of the Short-term Loan Act constitute a violation of the Consumer Fraud and Deceptive Business Practices Act. Effective January 1, 2006. 1/27/2005HouseFiled with the Clerk by Rep. James H. Meyer 1/27/2005HouseFirst Reading 1/27/2005HouseReferred to Rules Committee 2/2/2005HouseAssigned to Consumer Protection Committee 2/3/2005HouseAdded Chief Co-Sponsor Rep. Sandra M. Pihos 3/10/2005HouseRule 19(a) / Re-referred to Rules Committee 1/9/2007HouseSession Sine Die