093_HB2187ham001

 










                                     LRB093 09083 RLC 11475 a

 1                    AMENDMENT TO HOUSE BILL 2187

 2        AMENDMENT NO.     .  Amend House Bill 2187 as follows:

 3    by replacing the title with the following:

 4        "AN ACT in relation to consumer credit."; and

 5    by replacing everything after the enacting  clause  with  the
 6    following:

 7        "Section  5.   The  Consumer Fraud and Deceptive Business
 8    Practices Act is  amended by adding Section 7.5 as follows:

 9        (815 ILCS 505/7.5 new)
10        Sec. 7.5. Verification of accuracy  of  credit  reporting
11    information used to  extend consumers credit.
12        (a)  Any  person  who  uses  a  consumer credit report in
13    connection  with  the    approval  of  credit  based  on   an
14    application  for  an  extension of credit, and who  discovers
15    that the address on the credit application  does  not  match,
16    within  a    reasonable  degree  of certainty, the address or
17    addresses listed, if any,  on  the  consumer  credit  report,
18    shall  take  reasonable  steps to verify the accuracy of  the
19    address provided on the  application  for  the  extension  of
20    credit  and  that  the  application   is  not  the  result of
 
                            -2-      LRB093 09083 RLC 11475 a
 1    financial identity theft as defined in Section  16G-15 of the
 2    Criminal Code of 1961.
 3        (b) Any person who  uses  a  consumer  credit  report  in
 4    connection  with  the    approval  of  credit  based  on  the
 5    application  for an extension of credit, and who has received
 6    notification  that  the  applicant  has  been  a  victim   of
 7    financial    identity  theft, as defined in Section 16G-15 of
 8    the Criminal Code of 1961, may   not  lend  money  or  extend
 9    credit   without   taking  reasonable  steps  to  verify  the
10    consumer's identity and confirm that the application  for  an
11    extension  of  credit is not the result of financial identity
12    theft.
13        (c) Any consumer who suffers damages as  a  result  of  a
14    violation  of  this Section by any person may bring an action
15    in a court of appropriate jurisdiction  against  that  person
16    to  recover actual damages, court costs, attorney's fees, and
17    punitive damages of not more than $30,000 for each violation,
18    as the court deems  proper.
19        (d) For purposes of this Section, "extension  of  credit"
20    does  not  include an increase in an existing open-end credit
21    plan, as defined in  Regulation  Z  of  the  Federal  Reserve
22    System  (12  C.F.R.  226.2), or any change to or review of an
23    existing credit account.
24        (e) If a consumer provides initial written  notice  to  a
25    creditor  that  he  or  she is a victim of financial identity
26    theft, as defined in Section 16G-15 of the  Criminal Code  of
27    1961,  the  creditor  shall  provide  written  notice  to the
28    consumer  of his or her rights under this Section.".