Sen. Elgie R. Sims, Jr.

Filed: 3/30/2023

 

 


 

 


 
10300SB2121sam003LRB103 28968 BMS 60285 a

1
AMENDMENT TO SENATE BILL 2121

2    AMENDMENT NO. ______. Amend Senate Bill 2121 by replacing
3everything after the enacting clause with the following:
 
4    "Section 5. The Credit Card Marketing Act of 2009 is
5amended by adding Section 45 as follows:
 
6    (110 ILCS 26/45 new)
7    Sec. 45. Credit card closure. If a credit card issuer is
8party to a private label credit program as defined in Section
948.1 of the Illinois Banking Act and closes a customer's
10credit card due to inactivity, the credit card issuer shall
11notify the customer and the credit reporting agencies in
12writing of the closure due to inactivity. This Section applies
13to any credit card issued under a private label credit program
14as defined in Section 48.1 of the Illinois Banking Act and is
15not limited to credit card relationships involving an
16institution of higher education.".