Illinois General Assembly - Full Text of SB2121

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Full Text of SB2121 103rd General Assembly

Introduced
Senate Amendment 001 Senate Amendment 002 Senate Amendment 003
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SB2121sam003 103RD GENERAL ASSEMBLY
Sen. Elgie R. Sims, Jr.
Filed: 3/30/2023

10300SB2121sam003 LRB103 28968 BMS 60285 a

1 AMENDMENT TO SENATE BILL 2121
2     AMENDMENT NO. ______. Amend Senate Bill 2121 by replacing
3 everything after the enacting clause with the following:

4     "Section 5. The Credit Card Marketing Act of 2009 is
5 amended by adding Section 45 as follows:

6     (110 ILCS 26/45 new)
7     Sec. 45. Credit card closure. If a credit card issuer is
8 party to a private label credit program as defined in Section
9 48.1 of the Illinois Banking Act and closes a customer's
10 credit card due to inactivity, the credit card issuer shall
11 notify the customer and the credit reporting agencies in
12 writing of the closure due to inactivity. This Section applies
13 to any credit card issued under a private label credit program
14 as defined in Section 48.1 of the Illinois Banking Act and is
15 not limited to credit card relationships involving an
16 institution of higher education.".

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