Date	Chamber	Action
12/3/2014	House	Session Sine Die

Statutes Amended In Order of Appearance

205 ILCS 675/3

205 ILCS 675/4

from Ch. 17, par. 7004

205 ILCS 675/6

from Ch. 17, par. 7006

Synopsis As Introduced
Amends the Illinois Financial Services Development Act. In the definition of "financial institution", provides that certain lenders are prohibited from charging an annual percentage rate in excess of 36% (rather than prohibited from charging interest in excess of 36% per annum) for any extension of credit under the Act. Further provides that any financial institution may charge and collect interest and other charges under a revolving credit plan provided that any finance charges or charges representing the cost of credit are included in the annual percentage rate calculation. Limits the amount of certain fees that a financial institution may charge and collect from a borrower under a revolving credit plan.

Actions 

Date	Chamber	Action
3/26/2014	House	Filed with the Clerk by Rep. Robert Rita
3/26/2014	House	First Reading
3/26/2014	House	Referred to Rules Committee
12/3/2014	House	Session Sine Die

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