REVOLVE CRDT NO BALANCE-NO FEE
Synopsis of Bill as introduced:
Amends the Illinois Financial Services Development Act.
Prohibits the imposition of fees or charges with respect to a
revolving credit plan that are contingent upon the borrower having no
outstanding unpaid indebtedness subject to interest charges on the
date of the billing statement. Effective immediately.
FISCAL NOTE (Dpt. Financial Institutions)
There would be no fiscal impact on the Department.
Last action on Bill: SESSION SINE DIE
Last action date: 99-01-12
Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0
END OF INQUIRY
Full Text Bill Status