(815 ILCS 405/29.1)
(from Ch. 121 1/2, par. 529.1)
(a) No advertisement to aid, promote, or assist directly or indirectly
any extension of consumer credit may state:
(1) that a specific periodic consumer credit amount or installment
amount can be arranged, unless the creditor usually and customarily
arranges credit payments or installments for that period and in that
(2) that a specified down payment is required in connection with any
extension of consumer credit, unless the creditor usually and customarily
arranges down payments in that amount.
(b) This Section applies to any advertisement to aid, promote, or assist
directly or indirectly any consumer credit sale or other extension of
credit subject to the provisions of this Act.
(c) If any advertisement to which this Section applies states the rate
of a finance charge, the advertisement must state the rate of that charge
expressed as an annual percentage rate.
(d) If any advertisement to which this Section applies states the amount
of the down payment, if any, the amount of any installment payment, the
dollar amount of any finance charge, or the number of installments or the
period of repayment, then the advertisement must state all of the following
(1) The cash price.
(2) The down payment, if any.
(3) The number, amount, and due dates or period of payments scheduled to
repay the indebtedness if the credit is extended.
(4) The rate of the time price differential expressed as an annual
(e) If a catalog or other multiple-page advertisement sets forth or
gives information in sufficient detail to permit determination of the
disclosures required by this Section in a table or schedule of credit
terms, such catalog or multiple-page advertisement shall be considered a
single advertisement provided:
(1) The table or schedule and the disclosures made therein are set forth
clearly and conspicuously, and
(2) Any statement of credit terms appearing in any place other than in
that table or schedule of credit terms clearly and conspicuously refers to
the page or pages on which that table or schedule appears, unless that
statement discloses all of the credit terms required to be stated under
this Section. For the purpose of this subparagraph, cash price is not a
(f) A lender or creditor who complies with the federal Truth in Lending
Act, amendments thereto, and any regulations issued or which may be issued
thereunder, shall be deemed to be in compliance with the provisions of this
(Source: P.A. 82-169.)