Bill Status of SB 1675   95th General Assembly

Short Description:  DEBIT HOLD LIMIT

Senate Sponsors
Sen. Jacqueline Y. Collins-Susan Garrett

Last Action  View All Actions

DateChamber Action
  1/13/2009SenateSession Sine Die

Statutes Amended In Order of Appearance
815 ILCS 505/2ZZ new

Synopsis As Introduced
Amends the Consumer Fraud and Deceptive Business Practices Act. Provides that, in any transaction in which an individual authorizes a person or entity to make a debit from his or her bank account for the purpose of placing a hold on the account to ensure payment for future services, the person or entity must provide the individual with a written statement that includes a reasonable price quote for the transaction. Prohibits the person or entity from debiting the individual's bank account in an amount greater than the price quoted on the written statement unless, at the time services are complete, the amount actually incurred by the individual exceeds the amount of the quoted price. Provides that the requirements do not apply to credit card transactions. Makes a violation of the provisions an unlawful practice under the Act.

Senate Committee Amendment No. 1
Adds reference to:
815 ILCS 145/0.01from Ch. 17, par. 6100
815 ILCS 145/0.05 new
815 ILCS 145/3 new

Amends the Credit Card Liability Act. Changes the short title of the Act to the Credit Card and Debit Card Liability Act. Provides that, whenever a credit card or debit card is used to obtain money, goods, services, or anything else of value: (i) without the consent or authorization of the rightful owner of the credit card or debit card; and (ii) as a result of a breach of the security of system data by a data collector or by an employee or agent of a data collector, the data collector shall be liable to any financial institution that incurs costs or damages relating to the unauthorized access to the account or accounts of the rightful owner of the credit card or debit card. Provides that the liability of the data collector to the financial institution shall include, but not be limited to: any costs incurred in connection with the cancellation or reissuance of a credit card or debit card; the closing of any deposit, transaction, draft, credit, or other account and any action necessary to stop payment or block transactions with respect to any such account; the opening or reopening of any deposit, transaction, draft, credit, or other account on behalf of the rightful owner of the debit card or credit card; and any refund or credit made to the rightful owner of the credit card or debit card as a result of the unauthorized transactions.

Actions 
DateChamber Action
  2/9/2007SenateFiled with Secretary by Sen. Jacqueline Y. Collins
  2/9/2007SenateFirst Reading
  2/9/2007SenateReferred to Rules
  2/21/2007SenateAssigned to Financial Institutions
  3/8/2007SenatePostponed - Financial Institutions
  3/12/2007SenateSenate Committee Amendment No. 1 Filed with Secretary by Sen. Jacqueline Y. Collins
  3/12/2007SenateSenate Committee Amendment No. 1 Referred to Rules
  3/14/2007SenateSenate Committee Amendment No. 1 Rules Refers to Financial Institutions
  3/15/2007SenateSenate Committee Amendment No. 1 Adopted
  3/15/2007SenateDo Pass as Amended Financial Institutions; 009-000-000
  3/15/2007SenatePlaced on Calendar Order of 2nd Reading March 20, 2007
  3/22/2007SenateSecond Reading
  3/22/2007SenatePlaced on Calendar Order of 3rd Reading March 27, 2007
  3/27/2007SenateAdded as Chief Co-Sponsor Sen. Susan Garrett
  3/30/2007SenateRule 2-10 Third Reading Deadline Established As May 31, 2007
  5/31/2007SenateRule 2-10 Third Reading Deadline Established As December 31, 2007
  12/3/2007SenatePursuant to Senate Rule 3-9(b) / Referred to Rules
  5/31/2008SenateRule 2-10 Third Reading Deadline Established As January 13, 2009
  1/13/2009SenateSession Sine Die

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