MILLER-RYAN-DAVIS,MONIQUE. 205 ILCS 670/16c new 205 ILCS 670/20 from Ch. 17, par. 5426 Amends the Consumer Installment Loan Act. Provides that lenders that make loans based upon proof of the borrower's continuing employment or ownership of equity in a motor vehicle and the borrower's delivery to the lender of a postdated check in an amount sufficient to repay the loan must deem all fees charged for making the loan or renewing the loan to be interest for disclosure purposes. Requires that interest be disclosed in a manner consistent with the Truth in Lending Act. Limits rollovers of loans to 3 during any 12-month period. Effective immediately. CORRECTIONAL NOTE (Department of Corrections) There would be no fiscal or corrections population impact. FEB-07-2001 H FILED WITH CLERK FEB-07-2001 H FIRST READING FEB-07-2001 H REFERRED TO HOUSE RULES COMMITTEE RULES FEB-14-2001 H ADDED AS A JOINT SPONSOR RYAN FEB-15-2001 H ASSIGNED TO COMMITTEE CONSUMER PROT FEB-16-2001 H ADDED AS A JOINT SPONSOR DAVIS,MONIQUE MAR-05-2001 H CORRECTIONAL NOTE FILED MAR-05-2001 H COMMITTEE CONSUMER PROT MAR-16-2001 H RE-REFERRED TO RULES COMM/RULE 19(A) RULES HRUL JAN-07-2003 H SESSION SINE DIE END OF INQUIRY Full Text Bill Summary