093_HB2188sam002

 










                                     LRB093 08131 RLC 15960 a

 1                    AMENDMENT TO HOUSE BILL 2188

 2        AMENDMENT NO.     .  Amend House Bill 2188 on page 1,  by
 3    replacing line 1 with the following:

 4        "AN ACT in relation to identity theft."; and

 5    on page 2, by inserting below line 24 the following:

 6        "Section  10.  The  Consumer Fraud and Deceptive Business
 7    Practices Act is  amended by adding Section 2MM as follows:

 8        (815 ILCS 505/2MM new)
 9        Sec. 2MM. Verification of accuracy  of  credit  reporting
10    information used to  extend consumers credit.
11        (a)  A   credit   card  issuer  who  mails  an  offer  or
12    solicitation to apply for a credit card and  who  receives  a
13    completed   application   in   response   to   the  offer  or
14    solicitation which lists an address that is not substantially
15    the same as the address on the offer or solicitation may  not
16    issue   a   credit  card  based  on  that  application  until
17    reasonable steps have been taken to  verify  the  applicant's
18    change of address.
19        (b)  Any  person  who  uses  a  consumer credit report in
20    connection  with  the    approval  of  credit  based  on  the
 
                            -2-      LRB093 08131 RLC 15960 a
 1    application for an extension of credit, and who has  received
 2    notification  of  a  police  report  filed  with  a  consumer
 3    reporting  agency  that  the  applicant  has been a victim of
 4    financial  identity theft, as defined in  Section  16G-15  of
 5    the  Criminal  Code  of  1961,  may  not lend money or extend
 6    credit  without  taking  reasonable  steps  to   verify   the
 7    consumer's  identity  and confirm that the application for an
 8    extension of credit is not the result of  financial  identity
 9    theft.
10        (c)  For  purposes of this Section, "extension of credit"
11    does not include an increase in an existing  open-end  credit
12    plan,  as  defined  in  Regulation  Z  of the Federal Reserve
13    System (12 C.F.R. 226.2), or any change to or  review  of  an
14    existing credit account.
15        (d)  Any person who violates subsection (a) or subsection
16    (b)  commits  an unlawful practice within the meaning of this
17    Act.".