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Sen. Elgie R. Sims, Jr.
Filed: 3/30/2023
| | 10300SB2121sam002 | | LRB103 28968 BMS 60252 a |
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| 1 | | AMENDMENT TO SENATE BILL 2121
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| 2 | | AMENDMENT NO. ______. Amend Senate Bill 2121 by replacing |
| 3 | | everything after the enacting clause with the following:
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| 4 | | "Section 5. The Credit Card Marketing Act of 2009 is |
| 5 | | amended by adding Section 45 as follows:
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| 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 financial institution shall |
| 11 | | notify the customer and the credit reporting agencies in |
| 12 | | writing of the closure due to inactivity.".
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