Illinois General Assembly - Bill Status for HB2660
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 Bill Status of HB2660  99th General Assembly


House Sponsors
Rep. Robert Rita

Last Action
DateChamber Action

Statutes Amended In Order of Appearance
205 ILCS 675/3
205 ILCS 675/4from Ch. 17, par. 7004
205 ILCS 675/6from Ch. 17, par. 7006

Synopsis As Introduced
Amends the Illinois Financial Services Development Act. In the definition of "financial institution", provides that certain lenders are prohibited from charging an annual percentage rate in excess of 36% (rather than prohibited from charging interest in excess of 36% per annum) for any extension of credit under the Act. Further provides that any financial institution may charge and collect interest and other charges under a revolving credit plan provided that any finance charges or charges representing the cost of credit are included in the annual percentage rate calculation. Limits the amount of certain fees that a financial institution may charge and collect from a borrower under a revolving credit plan.

DateChamber Action
  2/19/2015HouseFiled with the Clerk by Rep. Robert Rita
  2/19/2015HouseFirst Reading
  2/19/2015HouseReferred to Rules Committee
  3/10/2015HouseMotion Filed - Table Bill/Resolution Pursuant to Rule 60(b), Rep. Robert Rita
  3/12/2015HouseMotion Prevailed

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