94TH GENERAL ASSEMBLY
State of Illinois
2005 and 2006
HB1160


 
Introduced 02/08/05, by Rep. Patricia Reid Lindner
 
SYNOPSIS AS INTRODUCED:
 		














815 ILCS 505/2VV new









    Amends the Consumer Fraud and Deceptive Business Practices Act.  Requires a credit services organization to send a customer written notification, detailing any charges and fees, other than the total balance owing on the account, the amount of the monthly payment due, the annual percentage rate, and interest charge.    Provides that a credit services organization shall not charge any additional fee or charge, without prior notification to the customer  and consent by the customer to the additional charges and fees.  
















LRB094 07473 RXD 37636 b

















 


 


A BILL FOR









 











HB1160

LRB094 07473 RXD 37636 b






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    AN ACT concerning business.

 
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    Be it enacted by the People of the State of Illinois,
 
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represented in the General Assembly:


 
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    Section 5. The Consumer Fraud and Deceptive Business 
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Practices Act is amended  by adding Section 2VV as follows:
 
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    (815 ILCS 505/2VV new)

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    Sec. 2VV. Customer charge and fee notification; consent. A 
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credit services organization shall send a customer written 
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notification, detailing any charges and fees, other than the 
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total balance owing on the account, the amount of the monthly 
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payment due, the annual percentage rate, and the interest 
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charge.  A credit services organization shall not charge any 
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additional fee or charge, without prior notification to the 
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customer as provided under this Section and consent by the 
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customer to the additional charge or fee.