Financial Institutions Committee
Filed: 3/20/2007
 
 

 




 

 		












09500HB1437ham002

LRB095 08216 LCT 33883 a






1

AMENDMENT TO HOUSE BILL 1437 




2
    AMENDMENT NO. ______. Amend House Bill 1437 on page 1, 
3
immediately below line 3, by inserting the following:


 
4
    "Section 3. The Consumer Installment Loan Act is amended  by 
5
adding Section 15f as follows:
 
6
    (205 ILCS 670/15f  new)
7
    Sec. 15f. Practices concerning members of the military.
8
    (a) A licensee may not garnish the wages or salaries of a 
9
borrower who is a member of the military or is the spouse of a 
10
member of the military.
11
    (b) In addition to any rights and obligations provided 
12
under the federal Servicemembers Civil Relief Act, a licensee 
13
shall suspend and defer collection activity against a borrower 
14
who is a member of the military and who has been deployed to a 
15
combat or combat support posting,  or to the spouse of a 
16
borrower who is a member of the military and who has been 
 


 






09500HB1437ham002
- 2 -
LRB095 08216 LCT 33883 a




1
deployed to a combat or combat support posting, for the 
2
duration of the deployment.
3
    (c) A licensee may not knowingly contact the military chain 
4
of command of a borrower who is a member of the military in an 
5
effort to collect on any loan.
6
    (d) Licensees must honor the terms of any repayment plan 
7
that they have entered into with any borrower who is a member 
8
of the military, including a repayment agreement negotiated 
9
through military counselors or third-party credit counselors.

10
    (e) A licensee may not use any military design or insignia 
11
on any advertising material or other material distributed to a 
12
member of the military or the spouse of a member of the 
13
military that suggests military approval or endorsement of any 
14
product of that licensee.
15
    (f) For purposes of this Section, "member of the military" 
16
means a person serving in the armed forces of the United 
17
States, the Illinois National Guard, or any reserve component 
18
of the armed forces of the United States. "Member of the 
19
military" includes those persons engaged in (i) active duty, 
20
(ii) training or education under the supervision of the United 
21
States preliminary to induction into military service, or (iii) 
22
a period of active duty with the State of Illinois under Title 
23
10 or Title 32 of the United States Code pursuant to order of 
24
the President or the Governor of the State of Illinois."; and
 
25
on page 1, line 5, after "2-5", by inserting "2-50"; and


 
 


 






09500HB1437ham002
- 3 -
LRB095 08216 LCT 33883 a




1
on page 6, immediately below line 4, by inserting the 
2
following:


 
3
    "(815 ILCS 122/2-50)

4
    Sec. 2-50. Practices concerning members of the military. 
5
    (a) A lender may not garnish the wages or salaries of a 
6
consumer who is a member of the military or is the spouse of a 
7
member of the military.
8
    (b) In addition to any rights and obligations provided 
9
under the federal Servicemembers Civil Relief Act, a lender 
10
shall suspend and defer collection activity against a consumer 
11
who is a member of the military and who has been deployed to a 
12
combat or combat support posting, or to the spouse of a 
13
consumer who is a member of the military and who has been 
14
deployed to a combat or combat support posting, for the 
15
duration of the deployment.
16
    (c) A lender may not knowingly contact the military chain 
17
of command of a consumer who is a member of the military in an 
18
effort to collect on a payday loan.
19
    (d) Lenders must honor the terms of any repayment plan that 
20
they have entered into with any consumer, including a repayment 
21
agreement negotiated through military counselors or 
22
third-party credit counselors.
23
    (e) A lender may not use any military design or insignia on 
24
any advertising material or other material distributed to a 
 


 






09500HB1437ham002
- 4 -
LRB095 08216 LCT 33883 a




1
member of the military or the spouse of a member of the 
2
military that suggests military approval or endorsement of any 
3
product of that lender.

4
(Source: P.A. 94-13, eff. 12-6-05.)".