INTEREST ACT-LATE PAYMENTS House SponsorsRep. Monique D. Davis 1/13/2009HouseSession Sine Die 815 ILCS 205/4.2from Ch. 17, par. 6407 Amends the Interest Act. Provides that no increase in the annual percentage rate of interest on a revolving credit arrangement for a credit card account, other than an increase due to the expiration of an introductory percentage rate of interest, may be made because of a late payment by the debtor, provided that the payment has been postmarked or entered electronically on or before the date that the payment was due. Provides that the exception for the increase in the annual percentage rate of interest on a revolving credit arrangement for a credit card account does not apply to late payments due to a check not being honored by the debtor's bank for insufficient funds. 1/16/2007HouseFiled with the Clerk by Rep. Monique D. Davis 1/19/2007HouseFirst Reading 1/19/2007HouseReferred to Rules Committee 1/31/2007HouseAssigned to Consumer Protection Committee 2/28/2007HouseMotion Do Pass - Lost Consumer Protection Committee; 001-010-001 2/28/2007HouseRemains in Consumer Protection Committee 3/23/2007HouseRule 19(a) / Re-referred to Rules Committee 1/13/2009HouseSession Sine Die