DILLARD-WEAVER,S-SHADID. (CAPPARELLI-LANG-HOWARD-BUGIELSKI) New Act Creates the Illinois Financial Institutions Year 2000 Safety and Soundness Act. Provides that no Illinois financial institution, as defined, shall be liable to any person for actual or consequential damages in an action alleging the failure of a computer system. Effective immediately. SENATE AMENDMENT NO. 1. Adds reference to: 205 ILCS 605/6 new 815 ILCS 205/6 from Ch. 17, par. 6413 Provides that an Illinois financial institution shall not be liable for damages resulting from the alleged failure of a computer system to a person not in privity of contract with the Illinois financial institution. Deletes provisions limiting liability to instances of fraud or intentional willful and wanton conduct. Requires an aggrieved person to give notice to the financial institution and allow the financial institution 30 days to resolve the claim before bringing suit. Amends the Consumer Deposit Account Act and the Interest Act to provide that certain charges erroneously im- posed upon a customer as a result of a computer failure be rescinded. JUDICIAL NOTE, H-AM 1 (Administrative Office of Ill. Courts) Will neither increase nor decrease the number of judges needed. HOUSE AMENDMENT NO. 1. Deletes reference to: 205 ILCS 605/6 new 815 ILCS 205/6 . Adds reference to: 205 ILCS 610/5 new Replaces everything after the enacting clause. Creates the Illinois Financial Institutions Year 2000 Safety and Soundness Act. Provides that Illinois financial institutions are not liable to persons for damages incurred by persons not in privity of contract with the financial institution in connection to a claim based upon a computer related malfunction or failure. Removes Consumer Installment Loan Act licensees, Residential Mortgage License Act of 1987 licensees, Sales Finance Agency Act Licensees, Retail Installment Sales Act licensees, and Motor Vehicle Retail Installment Sales Act licensees from the scope of the bill. Requires an aggrieved person to notify the financial institution and allow 60 days for the financial institution to resolve the claim before bringing an action. Amends the Banking Emergencies Act to require financial institutions to waive late fees and to delay by 30 days actions to collect debts from consumers whose default is caused by a computer failure on the part of a person other than the consumer. Requires credit reporting agencies to allow consumers to rebut entries related to adverse information caused by computer failure. Effective immediately. 99-02-25 S FIRST READING 99-02-25 S REFERRED TO SENATE RULES COMMITTEE RULES 99-02-25 S ASSIGNED TO COMMITTEE FIN INST 99-03-04 S DO PASS 008-000-000 SFIC 99-03-04 S PLACED ON CALENDAR ORDER OF 2ND READING 99-03-09 99-03-24 S SECOND READING 99-03-24 S PLACED ON CALENDAR ORDER OF 3RD READING 99-03-25 99-03-24 S FILED WITH SECRETARY 99-03-24 S AMENDMENT NO. 01-DILLARD 99-03-24 S AMENDMENT REFERRED TO SRUL 99-03-24 S AMENDMENT NO. 01-DILLARD 99-03-24 S RULES REFERS TO SFIC 99-03-24 S AMENDMENT NO. 01-DILLARD 99-03-24 S BE ADOPTED SFIC/008-000-000 99-03-24 S RECALLED TO SECOND READING 99-03-24 S AMENDMENT NO. 01-DILLARD 99-03-24 S ADOPTED 99-03-24 S PLACED ON CALENDAR ORDER OF 3RD READING 99-03-25 99-03-25 S THIRD READING - PASSED 041-000-015 99-03-26 H ARRIVE IN HOUSE 99-03-26 H HOUSE SPONSOR CAPPARELLI 99-03-26 H ADDED AS A JOINT SPONSOR LANG 99-03-26 H ADDED AS A JOINT SPONSOR HOWARD 99-03-26 H ADDED AS A JOINT SPONSOR BUGIELSKI 99-03-26 H FIRST READING 99-03-26 H REFERRED TO HOUSE RULES COMMITTEE RULES 99-04-14 H ASSIGNED TO COMMITTEE COMPUTER TECH 99-04-29 H DO PASS/SHORT DEBATE 011-000-001 HCOM 99-04-29 H PLACED CALENDAR 2ND READING-SHORT DEBATE 99-05-05 H AMENDMENT NO. 01-CAPPARELLI 99-05-05 H AMENDMENT REFERRED TO HRUL 99-05-05 H CALENDAR ORDER 2ND READING-SHORT DEBATE 99-05-11 H JUDICIAL NOTE FILED AS AMENDED BY HOUSE AMEND #1 99-05-11 H CALENDAR ORDER 2ND READING-SHORT DEBATE 99-05-12 H SECOND READING-SHORT DEBATE 99-05-12 H HELD ON CAL ORDER 2ND RDG - SHORT DEBATE 99-05-13 H AMENDMENT NO. 02-HOWARD 99-05-13 H AMENDMENT REFERRED TO HRUL 99-05-13 H AMENDMENT NO. 03-HOWARD 99-05-13 H AMENDMENT REFERRED TO HRUL 99-05-13 H HELD ON CAL ORDER 2ND RDG - SHORT DEBATE 99-05-14 H 3RD RDING DEADLINE 99-05-14 H EXTENDED - 5/21/99 99-05-14 H HELD ON CAL ORDER 2ND RDG - SHORT DEBATE 99-05-19 H AMENDMENT NO. 01-CAPPARELLI 99-05-19 H RULES REFERS TO HCOM 99-05-19 H HELD ON CAL ORDER 2ND RDG - SHORT DEBATE 99-05-20 H AMENDMENT NO. 01-CAPPARELLI 99-05-20 H RECOMMENDS BE ADOPTED HCOM/010-000-002 99-05-20 H HELD ON CAL ORDER 2ND RDG - SHORT DEBATE 99-05-21 H AMENDMENT NO. 01-CAPPARELLI 99-05-21 H ADOPTED 99-05-21 H PLCD CAL ORDER 3RD READING-SHORT DEBATE 99-05-21 H THIRD READING/SHORT DEBATE/PASSED 086-024-005 99-05-21 S SECRETARYS DESK - CONCURRENCE 01 99-05-24 S FILED WITH SECRETARY 99-05-24 S MOTION TO CONCUR - HOUSE AMENDMENT NO 01/DILLARD 99-05-24 S MOTION REFERRED TO SRUL 99-05-26 S MOTION TO CONCUR - HOUSE AMENDMENT NO 01/DILLARD 99-05-26 S RULES REFERS TO SFIC 99-05-27 S MOTION TO CONCUR - HOUSE AMENDMENT NO 01/DILLARD 99-05-27 S BE ADOPTED SFIC/008-001-000 99-05-27 S MOTION TO CONCUR - HOUSE AMENDMENT NO 01/DILLARD 99-05-27 S SEN CONCURS IN HSE AMENDMENTS (NO.) 01/052-001-006 99-05-27 S PASSED BOTH HOUSES 99-06-25 S SENT TO THE GOVERNOR 99-08-20 S GOVERNOR APPROVED 99-08-20 S EFFECTIVE DATE 99-08-20 99-08-20 S PUBLIC ACT.............................. 91-0645 END OF INQUIRY Full Text Bill Summary