Bill Status of SB 3752   97th General Assembly

Short Description:  CHECK CASHERS REGISTRATION

Senate Sponsors
Sen. Emil Jones, III-Jacqueline Y. Collins-Donne E. Trotter and Mattie Hunter-Iris Y. Martinez

Last Action  View All Actions

DateChamber Action
  1/8/2013SenateSession Sine Die

Statutes Amended In Order of Appearance
New Act
815 ILCS 315/Act rep.
815 ILCS 122/1-15
815 ILCS 505/2Zfrom Ch. 121 1/2, par. 262Z

Synopsis As Introduced
Repeals the Check Cashing Act and creates the Check Cashers Act. Contains a statement of purpose. Defines "merchant" as a person, firm, association, partnership, or corporation primarily engaged in the business of selling tangible personal property at retail, and defines other terms. Provides that a merchant may engage in the check cashing business for a fee only if it is incidental to the merchant's main business. Contains provisions concerning applicability, permitted fees, proceeds, deposits, reporting requirements, forged checks, records, enforcement and remedies, judicial review, and waivers. Provides that the Department may make and enforce such reasonable rules, regulations, directions, orders, decisions, and findings as the execution and enforcement of the Act require. Amends the Consumer Fraud and Deceptive Business Practices Act. Provides that any person who knowingly violates the Check Cashers Act commits an unlawful practice under the Consumer Fraud and Deceptive Business Practices Act. Makes conforming changes in the Payday Loan Reform Act. Contains a severability provision. Effective 180 days after becoming law.

Senate Committee Amendment No. 1
Deletes reference to:
New Act
815 ILCS 122/1-15
815 ILCS 315/Act rep.
Adds reference to:
815 ILCS 315/5 new
815 ILCS 315/10 new
815 ILCS 315/15 new
815 ILCS 315/20 new
815 ILCS 315/25 new
815 ILCS 315/30 new
815 ILCS 315/35 new
815 ILCS 315/40 new
815 ILCS 315/45 new
815 ILCS 315/50 new
815 ILCS 315/55 new
815 ILCS 315/60 new
815 ILCS 315/65 new
815 ILCS 315/70 new
815 ILCS 315/75 new
815 ILCS 315/80 new
815 ILCS 315/1 rep.
815 ILCS 315/2 rep.

Replaces everything after the enacting clause. Amends the Check Cashing Act. Contains a statement of purpose. Defines "merchant" as a person, firm, association, partnership, or corporation primarily engaged in the business of selling tangible personal property at retail, and defines other terms. Provides that a merchant may engage in the check cashing business for a fee only if it is incidental to the merchant's main business. Contains provisions concerning applicability, permitted fees, proceeds, deposits, reporting requirements, forged checks, records, enforcement and remedies, judicial review, and waivers. Authorizes issuance of cash equivalents in exchange for a check. Exempts financial holding companies from the scope of the Act. Provides that the Department may make and enforce such reasonable rules, regulations, directions, orders, decisions, and findings as the execution and enforcement of the Act require. Amends the Consumer Fraud and Deceptive Business Practices Act. Provides that any person who knowingly violates the Check Cashing Act commits an unlawful practice under the Consumer Fraud and Deceptive Business Practices Act. Contains a severability provision. Effective 180 days after becoming law.

Actions 
DateChamber Action
  2/10/2012SenateFiled with Secretary by Sen. Emil Jones, III
  2/10/2012SenateFirst Reading
  2/10/2012SenateReferred to Assignments
  2/24/2012SenateAssigned to Financial Institutions
  3/1/2012SenateSenate Committee Amendment No. 1 Filed with Secretary by Sen. Emil Jones, III
  3/1/2012SenateSenate Committee Amendment No. 1 Referred to Assignments
  3/1/2012SenatePostponed - Financial Institutions
  3/1/2012SenateAdded as Chief Co-Sponsor Sen. Jacqueline Y. Collins
  3/6/2012SenateSenate Committee Amendment No. 1 Assignments Refers to Financial Institutions
  3/8/2012SenateSenate Committee Amendment No. 1 Adopted
  3/8/2012SenateDo Pass as Amended Financial Institutions; 008-004-000
  3/8/2012SenatePlaced on Calendar Order of 2nd Reading March 26, 2012
  3/23/2012SenateAdded as Chief Co-Sponsor Sen. Donne E. Trotter
  3/28/2012SenateAdded as Co-Sponsor Sen. Mattie Hunter
  3/28/2012SenateAdded as Chief Co-Sponsor Sen. Iris Y. Martinez
  5/2/2012SenateRe-referred to Assignments
  1/8/2013SenateSession Sine Die

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