(775 ILCS 5/4-104) (from Ch. 68, par. 4-104)

Sec. 4-104. Exemptions. Nothing contained in this Article shall prohibit:

(A) Sound Underwriting Practices. A financial institution from considering sound underwriting practices in contemplation of any loan to any person. Such practices shall include:

(1) The willingness and the financial ability of the borrower to repay the loan.

(2) The market value of any real estate or other item of property proposed as security for any loan.

(3) Diversification of the financial institution's investment portfolio.

(B) Credit-worthiness Information; Credit Systems. A financial institution or a person who offers credit cards from:

(1) making an inquiry of the applicant's age, permanent residence, immigration status, or any additional information if such inquiry is for the purpose of determining the amount and probable continuance of income levels, credit history, or other pertinent element of credit-worthiness as provided in regulations of the Department;

(2) using any empirically derived credit system which considers age if such system is demonstrably and statistically sound in accordance with regulations of the Department, except that in the operation of such system the age of an applicant over the age of 62 years may not be assigned a negative factor or value.

(C) Special Credit Programs. A financial institution from refusing to extend credit when required to by or pursuant to any:

(1) credit assistance program expressly authorized by law for an economically disadvantaged class of persons;

(2) credit assistance program administered by a nonprofit organization for its members of an economically disadvantaged class of persons;

(3) special purpose credit program offered by a profit-making organization to meet special social needs which meets standards prescribed by the Department in its regulations.

(Source: P.A. 100-201, eff. 8-18-17.)