SB1675sam001 95TH GENERAL ASSEMBLY

Sen. Jacqueline Y. Collins

Filed: 3/12/2007

09500SB1675sam001 LRB095 10970 LCT 32882 a

AMENDMENT TO SENATE BILL 1675

AMENDMENT NO. ______. Amend Senate Bill 1675 on page 1, immediately below line 3, by inserting the following:

"Section 3. The Credit Card Liability Act is amended by changing Section 0.01 and by adding Sections 0.05 and 3 as follows:

(815 ILCS 145/0.01) (from Ch. 17, par. 6100)

Sec. 0.01. Short title. This Act may be cited as the Credit Card and Debit Card Liability Act.

(Source: P.A. 86-1324.)

(815 ILCS 145/0.05 new)

Sec. 0.05. Definitions. For the purposes of this Act:

"Credit card" and "debit card" shall have the meanings ascribed to those terms in the Illinois Credit Card and Debit Card Act.

"Breach of the security of system data" and "data collector" shall have the meanings ascribed to those terms in the Personal Information Protection Act.

(815 ILCS 145/3 new)

Sec. 3. Liability of data collector. Notwithstanding any other provision of law, 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. 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.".