CONSUMER FIN PROTECTION LAW Senate SponsorsSen. Mark L. Walker, Karina Villa and Rachel Ventura 2/4/2025SenateReferred to Assignments New Act5 ILCS 140/7.520 ILCS 1205/620 ILCS 1205/6afrom Ch. 17, par. 10720 ILCS 1205/18.4 new30 ILCS 105/5.1030 new205 ILCS 405/4from Ch. 17, par. 4808205 ILCS 405/14from Ch. 17, par. 4823205 ILCS 405/16from Ch. 17, par. 4832205 ILCS 660/6from Ch. 17, par. 5206205 ILCS 665/4from Ch. 17, par. 5304205 ILCS 665/6from Ch. 17, par. 5306205 ILCS 670/2from Ch. 17, par. 5402205 ILCS 670/4from Ch. 17, par. 5404205 ILCS 670/12.5225 ILCS 429/30Creates the Consumer Financial Protection Law. Creates the Financial Protection Fund. Sets forth provisions concerning findings and purpose, exemptions, administration of the provisions, funds, supervision, registration requirements, consumer protection, cybersecurity, anti-fraud and anti-money laundering, enforcement, procedures, and rulemaking. Defines terms. Makes conforming changes in the Freedom of Information Act and the State Finance Act. Changes the name of the Financial Institutions Code to the Financial Institutions Act. Sets forth additional powers and duties of the Division of Financial Institutions. Sets forth provisions concerning court orders, penalty of perjury, character and fitness of licensees, and consent orders and settlement agreements. Removes specified provisions. Defines terms. Makes other changes. Makes a conforming change in the Collection Agency Act. Amends the Currency Exchange Act, the Sales Finance Agency Act, the Debt Management Service Act, the Consumer Installment Loan Act, and the Debt Settlement Consumer Protection Act. Changes application, license, and examination fees. Effective January 1, 2026. 2/4/2025SenateFiled with Secretary by Sen. Mark L. Walker 2/4/2025SenateFirst Reading 2/4/2025SenateReferred to Assignments 3/18/2025SenateAdded as Co-Sponsor Sen. Karina Villa 3/19/2025SenateAdded as Co-Sponsor Sen. Rachel Ventura