Bill Status of HB 2300   98th General Assembly

Short Description:  CONSUMER LOAN-LAWSUIT LENDING

House Sponsors
Rep. André M. Thapedi-Jil Tracy-Maria Antonia Berrios-Ron Sandack

Last Action  View All Actions

DateChamber Action
  12/3/2014HouseSession Sine Die

Statutes Amended In Order of Appearance
205 ILCS 670/21.5 new
815 ILCS 505/2Efrom Ch. 121 1/2, par. 262E
815 ILCS 505/2Kfrom Ch. 121 1/2, par. 262K

Synopsis As Introduced
Amends the Consumer Installment Loan Act. Defines "lawsuit lending", "lawsuit lender", and "dispute". Provides that the Act shall apply to all lawsuit lending and all lawsuit lenders. Provides that, in any dispute in which a lawsuit lender provides lawsuit lending to a party, any and all documents that the lawsuit lender obtained from the party in connection with making any decision to begin lawsuit lending shall be produced to the opposing party without awaiting a discovery request and any agreement between the lawsuit lender and the party must be disclosed to the court and produced to the opposing party. Amends the Consumer Fraud and Deceptive Business Practices Act. Provides that a lawsuit lender shall be considered a person who is regularly engaged in the business of making loans to consumers for the purposes of provisions concerning repeated violations of certain Acts and advertisements containing certain terms. Effective immediately.

 Fiscal Note, House Committee Amendment No. 1 (Financial & Professional Regulation)
 HB 2300 (H-AM 1) has a projected fiscal impact to the Illinois Department of Financial and Professional Regulation of $998,936.54.

Actions 
DateChamber Action
  2/19/2013HouseFiled with the Clerk by Rep. André M. Thapedi
  2/19/2013HouseFirst Reading
  2/19/2013HouseReferred to Rules Committee
  2/20/2013HouseAdded Chief Co-Sponsor Rep. Jil Tracy
  2/25/2013HouseAssigned to Judiciary
  3/1/2013HouseAdded Chief Co-Sponsor Rep. Maria Antonia Berrios
  3/5/2013HouseAdded Chief Co-Sponsor Rep. Ron Sandack
  3/13/2013HouseHouse Committee Amendment No. 1 Filed with Clerk by Rep. André M. Thapedi
  3/13/2013HouseHouse Committee Amendment No. 1 Referred to Rules Committee
  3/14/2013HouseHouse Committee Amendment No. 1 Fiscal Note Filed as Amended
  3/18/2013HouseHouse Committee Amendment No. 1 Rules Refers to Judiciary
  3/22/2013HouseRule 19(a) / Re-referred to Rules Committee
  3/22/2013HouseHouse Committee Amendment No. 1 Rule 19(a) / Re-referred to Rules Committee
  12/3/2014HouseSession Sine Die

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