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94TH GENERAL ASSEMBLY
State of Illinois
2005 and 2006
SB2619
Introduced 1/20/2006, by Sen. Jacqueline Y. Collins SYNOPSIS AS INTRODUCED:
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Amends the Consumer Fraud and Deceptive Business Practices Act. Makes mortgage loan steering or other specified fee and loan practices, based on the fact that a person is a member of a protected class under the Human Rights Act, an unlawful business practice. Provides that a consumer who is concerned about a steering practice in the State may file a written request for assistance with the Attorney General or the State's Attorney.
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A BILL FOR
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SB2619 |
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LRB094 18934 LCT 54382 b |
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| AN ACT concerning business.
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| Be it enacted by the People of the State of Illinois,
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| represented in the General Assembly:
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| Section 5. The Consumer Fraud and Deceptive Business |
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| Practices Act is amended by adding Section 2XX as follows:
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| (815 ILCS 505/2XX new)
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| Sec. 2XX. Mortgage steering; loans. |
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| (a) A person must not engage in steering another person who |
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| is a member of a protected class under the Human Rights Act. |
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| For purposes of this Section, "steering" means:
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| (1) restricting or attempting to restrict a person's |
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| choices because of factors other than a person's income or |
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| credit level in connection with seeking, negotiating, or |
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| buying a dwelling, including seeking a mortgage loan for a |
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| dwelling;
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| (2) discouraging a person from a particular mortgage |
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| loan with more favorable terms if the person may qualify |
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| for that particular mortgage loan;
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| (3) directing a person away from a housing or mortgage |
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| loan product, program, or service with more favorable terms |
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| if the person may qualify for that particular product, |
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| program, or service; or
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| (4) offering less favorable mortgage loan terms than |
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| would otherwise be offered.
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| (b) This Section does not prohibit:
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| (1) use of a logo or other means of advertising that |
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| housing is suitable or adapted to use by persons with a |
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| disability; or
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| (2) keeping records or making reports required by |
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| federal, State, or county law.
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| (c) Any person who violates this Section commits an |
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| unlawful practice within the meaning of this Act.
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