CREDIT CARD ISSUANCE-INT RATE Senate SponsorsSen. Rickey R. Hendon House Sponsors(Rep. Lovana Jones-Eddie Washington-Art Tenhouse-Monique D. Davis, Robert Rita, Annazette Collins, Charles E. Jefferson and Wyvetter H. Younge) 7/22/2003SenatePublic Act . . . . . . . . . 93-0287 815 ILCS 140/7.3 newAmends the Credit Card Issuance Act. Provides that a credit card issuer who offers to an Illinois resident a credit card with a fixed annual percentage rate may not increase the annual percentage rate or rates of interest applicable to that credit card account, or prematurely remove or increase any introductory annual percentage rate or rates of interest applicable to the account, for reasons other than actions or omissions of the card holder that are directly related to the account and that are clearly and conspicuously described to the card holder at the time the credit card is issued. Effective immediately.Senate Floor Amendment No. 3 Deletes reference to:815 ILCS 140/7.3 newAdds reference to:205 ILCS 675/8815 ILCS 177/10Deletes everything. Amends the Illinois Financial Services Development Act. Provides that if an amendment to a revolving credit plan agreement results in an unfavorable change in the interest or other charges on a revolving credit plan which: (i) relates to a change in the borrower's credit standing, (ii) does not affect all or a substantial portion of a class of the creditor's accounts, and (iii) does not relate to inactivity, default, or delinquency on that revolving credit plan, the financial institution must give the borrower a written notice concerning a change in credit standing. Amends the Tax Refund Anticipation Loan Disclosure Act. Requires a facilitator's disclosure of (i) the annual percentage rate utilizing a 10-day time period and (ii) the total cost to the borrower for utilizing a refund anticipation loan. Effective January 1, 2004. 2/20/2003SenateFiled with Secretary by Sen. Rickey R. Hendon 2/20/2003SenateFirst Reading 2/20/2003SenateReferred to Rules 2/26/2003SenateAssigned to Financial Institutions 3/6/2003SenateDo Pass Financial Institutions; 009-000-000 3/6/2003SenatePlaced on Calendar Order of 2nd Reading March 11, 2003 3/11/2003SenateSenate Floor Amendment No. 1 Filed with Secretary by Sen. Rickey R. Hendon 3/11/2003SenateSenate Floor Amendment No. 1 Referred to Rules 3/18/2003SenateSecond Reading 3/18/2003SenatePlaced on Calendar Order of 3rd Reading March 19, 2003 3/24/2003SenateSenate Floor Amendment No. 1 Rules Refers to Financial Institutions 3/24/2003SenateSenate Floor Amendment No. 2 Filed with Secretary by Sen. Rickey R. Hendon 3/24/2003SenateSenate Floor Amendment No. 2 Referred to Rules 3/25/2003SenateSenate Floor Amendment No. 1 Postponed - Financial Institutions 3/26/2003SenateSenate Floor Amendment No. 2 Rules Refers to Financial Institutions 4/2/2003SenateSenate Floor Amendment No. 3 Filed with Secretary by Sen. Rickey R. Hendon 4/2/2003SenateSenate Floor Amendment No. 3 Referred to Rules 4/4/2003SenateThird Reading Deadline Extended - Rule 2-10(e) to April 9, 2003. 4/8/2003SenateSenate Floor Amendment No. 3 Rules Refers to Executive 4/8/2003SenateSenate Floor Amendment No. 3 Be Adopted Executive; 012-000-000 4/8/2003SenateRecalled to Second Reading 4/8/2003SenateSenate Floor Amendment No. 3 Adopted; Hendon 4/8/2003SenatePlaced on Calendar Order of 3rd Reading April 8, 2003 4/8/2003SenateThird Reading - Passed; 055-000-000 4/8/2003SenateSenate Floor Amendment No. 1 Tabled Pursuant to Rule 5-4(a) 4/8/2003SenateSenate Floor Amendment No. 2 Tabled Pursuant to Rule 5-4(a) 4/9/2003HouseArrived in House 4/9/2003HousePlaced on Calendar Order of First Reading 4/10/2003HouseChief House Sponsor Rep. Lovana Jones 4/14/2003HouseFirst Reading 4/14/2003HouseReferred to Rules Committee 4/16/2003HouseAssigned to Executive Committee 4/16/2003HouseAdded Alternate Chief Co-Sponsor Rep. Eddie Washington 4/29/2003HouseRe-assigned to Consumer Protection Committee 5/2/2003HouseCommittee/3rd Reading Deadline Extended-Rule 9(b); May 31, 2003 5/9/2003HouseDo Pass / Short Debate Consumer Protection Committee; 007-000-000 5/9/2003HousePlaced on Calendar 2nd Reading - Short Debate 5/13/2003HouseAdded Alternate Chief Co-Sponsor Rep. Art Tenhouse 5/13/2003HouseAdded Alternate Co-Sponsor Rep. Robert Rita 5/13/2003HouseAdded Alternate Co-Sponsor Rep. Annazette Collins 5/13/2003HouseAdded Alternate Co-Sponsor Rep. Charles E. Jefferson 5/14/2003HouseSecond Reading - Short Debate 5/14/2003HousePlaced on Calendar Order of 3rd Reading - Short Debate 5/14/2003HouseAdded Alternate Chief Co-Sponsor Rep. Monique D. Davis 5/21/2003HouseThird Reading - Short Debate - Passed 116-000-000 5/21/2003SenatePassed Both Houses 5/28/2003HouseAdded Alternate Co-Sponsor Rep. Wyvetter H. Younge 6/19/2003SenateSent to the Governor 7/22/2003SenateGovernor Approved 7/22/2003SenateEffective Date January 1, 2004 7/22/2003SenatePublic Act . . . . . . . . . 93-0287