(205 ILCS 675/11) (from Ch. 17, par. 7011)
Sec. 11.
Any amendment of a revolving credit plan which violates the
conditions or limitations of Section 8 of this Act shall not be
enforceable, but such plan shall remain enforceable according to its
original terms. Any borrower whose revolving credit plan has been
unlawfully amended may recover by means of an action or defense an amount
equal to twice the amount by which such borrower's payments of interest and
charges were increased solely due to such unlawful amendment, plus such
reasonable attorneys' fees and court costs as may be assessed by a court
against the financial institution. Recovery by means of a defense may be
had at any time after such amendment purports to be effective. Recovery by
means of an action may be had at any time after such amendment purports to
be effective and prior to the expiration of 2 years after the earlier of
(1) the date the last payment of such unlawfully increased interest or
charges, or (2) the date on which the borrower's plan has been terminated.
A bona fide error in connection with the amendment of a revolving credit
plan shall not be a violation under this Section if the financial
institution corrects the error within a reasonable time.
(Source: P.A. 85-1432.)
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