Illinois 100th Regular Session Status: Enacted

HB 4873 — PAYDAY INSTALLMENT LOAN FEES

Last action — Public Act . . . . . . . . . 100-1168

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  1. ✓
    Introduced
  2. ✓
    In Committee
  3. ✓
    Passed House
  4. ✓
    Passed Senate
  5. ✓
    To Executive
  6. 6
    Enacted

This bill has been enacted into law. Introduced February 14, 2018. Enacted.

Prognosis

Likely to advance 70% · moderate confidence

Where this bill stands today.

Odds of enactment

High

How often bills like it became law.

  • Enacted

    Current position in the legislative process.

  • 1 sponsor

    0 primary, 1 co-sponsors signed on.

  • Cleared a recorded vote

    Passed 2 recorded votes so far.

Prognosis reads this bill's own signals — stage, sponsorship breadth, committee status, recorded votes and cross-state momentum. Odds come from a model trained on which bills have become law.

Summary

Amends the Payday Loan Reform Act. Authorizes a lender to charge a borrower for the verification that the proposed loan agreement is permissible: a fee not to exceed $1 for a payday loan or a fee not to exceed $1 for each month that a balance is scheduled to be outstanding on an installment payday loan (rather than a fee not to exceed $1). Authorizes a certified consumer reporting service to charge the following verification fees upon a loan being made or entered into a certified database: a fee not to exceed $1 for a payday loan or a fee not to exceed $1 for each month that a balance is scheduled to be outstanding on an installment payday loan (rather than a fee not to exceed $1). Effective immediately.

Bill Text

What changed in the latest version

5 added · 5 removed

Plain-language change summary

The changes made to HB 4873 involve the replacement of certain lines of text in the bill. Specifically, five lines from the engrossed version were removed and substituted with five new lines in the enrolled version. This shift indicates a refinement of the bill's language or provisions. Understanding these changes is important as they could affect the bill's implementation or the way it addresses specific issues.

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Previous
Latest
HB4873 Engrossed LRB100 18031 JLS 33219 b AN ACT concerning business.
HB4873 Enrolled LRB100 18031 JLS 33219 b AN ACT concerning business.
Beginning July 1, HB4873 Engrossed - 2 - LRB100 18031 JLS 33219 b 2020, a lender may charge a borrower a fee not to exceed $3 for the verification required under Section 2-15 of this Act in connection with an installment payday loan.
Beginning July 1, HB4873 Enrolled - 2 - LRB100 18031 JLS 33219 b 2020, a lender may charge a borrower a fee not to exceed $3 for the verification required under Section 2-15 of this Act in connection with an installment payday loan.
(1) provide reasonable notice to all licensees identifying the commercially reasonable methods of HB4873 Engrossed - 3 - LRB100 18031 JLS 33219 b verification that are available;
(1) provide reasonable notice to all licensees identifying the commercially reasonable methods of HB4873 Enrolled - 3 - LRB100 18031 JLS 33219 b verification that are available;
(1) provides real-time access through an Internet connection or, if real-time access through an Internet connection becomes unavailable to lenders due to a consumer reporting service's technical problems incurred by the consumer reporting service, through alternative verification mechanisms, including, but not limited to, HB4873 Engrossed - 4 - LRB100 18031 JLS 33219 b verification by telephone;
(1) provides real-time access through an Internet connection or, if real-time access through an Internet connection becomes unavailable to lenders due to a consumer reporting service's technical problems incurred by the consumer reporting service, through alternative verification mechanisms, including, but not limited to, HB4873 Enrolled - 4 - LRB100 18031 JLS 33219 b verification by telephone;
HB4873 Engrossed - 5 - LRB100 18031 JLS 33219 b (g) A licensee may rely on the information contained in the certified database as accurate and is not subject to any administrative penalty or liability as a result of relying on inaccurate information contained in the database.
HB4873 Enrolled - 5 - LRB100 18031 JLS 33219 b (g) A licensee may rely on the information contained in the certified database as accurate and is not subject to any administrative penalty or liability as a result of relying on inaccurate information contained in the database.
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How this bill changes current law

4 changes Share ↗

Compared against the Illinois Compiled Statutes as published AI-generated reading aid — verify against the official bill.

The bill modifies the fees associated with verification for payday loans and installment payday loans, and updates some of the existing provisions in the relevant sections.

  • 815 ILCS 122/2-10

    A lender may charge a borrower a fee not to exceed $1 for the verification required under Section 2-15 of this Act in connection with a payday loan. → A lender may charge a borrower a fee not to exceed $1 for the verification required under Section 2-15 of this Act in connection with a payday loan and, until July 1, 2020, in connection with an installment payday loan.

    This change allows lenders to charge a verification fee for installment payday loans temporarily until July 1, 2020.

  • 815 ILCS 122/2-10

    In no event may a fee be greater than the amount charged by the certified consumer reporting service. → In no event may a fee be greater than the amount charged by the certified consumer reporting service.

    This language remains unchanged but applies to the new fee structure allowing higher fees for installment loans.

  • 815 ILCS 122/2-10

    Beginning July 1, 2020, a lender may charge a borrower a fee not to exceed $3 for the verification required under Section 2-15 of this Act in connection with an installment payday loan.

    This change allows lenders to charge a higher verification fee of $3 for installment payday loans starting on July 1, 2020.

  • 815 ILCS 122/2-15

    Notwithstanding any other provision of law to the contrary, a consumer seeking a payday loan may make a direct inquiry to the consumer reporting service to request a more detailed explanation of the basis for a consumer reporting service's determination that the consumer is ineligible for a new payday loan.

    This section allowing direct inquiry by consumers for loan ineligibility details is removed.

Action History

  1. Public Act . . . . . . . . . 100-1168

  2. Effective Date June 1, 2019

  3. Governor Approved

  4. Sent to the Governor

  5. Passed Both Houses

  6. Third Reading - Passed; 045-003-000

  7. Placed on Calendar Order of 3rd Reading November 15, 2018

  8. Second Reading

  9. Placed on Calendar Order of 2nd Reading

  10. Do Pass Judiciary; 010-000-000

  11. Assigned to Judiciary

  12. Referred to Assignments

  13. First Reading

  14. Chief Senate Sponsor Sen. Terry Link

  15. Placed on Calendar Order of First Reading

  16. Arrive in Senate

  17. Third Reading - Short Debate - Passed 072-043-000

  18. Placed on Calendar Order of 3rd Reading - Short Debate

  19. Final Action Deadline Extended-9(b) May 31, 2018

  20. Added Co-Sponsor Rep. C.D. Davidsmeyer

  21. Final Action Deadline Extended-9(b) May 25, 2018

  22. Third Reading - Consideration Postponed

  23. Placed on Calendar - Consideration Postponed

  24. Approved for Consideration Rules Committee; 004-000-000

  25. Rule 19(a) / Re-referred to Rules Committee

  26. Third Reading - Consideration Postponed

  27. Placed on Calendar - Consideration Postponed

  28. Placed on Calendar Order of 3rd Reading - Short Debate

  29. House Floor Amendment No. 2 Adopted

  30. Second Reading - Short Debate

  31. House Floor Amendment No. 2 Recommends Be Adopted Financial Institutions Committee; 008-000-000

  32. House Floor Amendment No. 2 Rules Refers to Financial Institutions Committee

  33. House Floor Amendment No. 2 Referred to Rules Committee

  34. House Floor Amendment No. 2 Filed with Clerk by Rep. Lou Lang

  35. Placed on Calendar 2nd Reading - Short Debate

  36. Do Pass as Amended / Short Debate Financial Institutions Committee; 009-000-000

  37. House Committee Amendment No. 1 Adopted in Financial Institutions Committee; by Voice Vote

  38. House Committee Amendment No. 1 Rules Refers to Financial Institutions Committee

  39. House Committee Amendment No. 1 Referred to Rules Committee

  40. House Committee Amendment No. 1 Filed with Clerk by Rep. Lou Lang

  41. Assigned to Financial Institutions Committee

  42. Referred to Rules Committee

  43. First Reading

  44. Filed with the Clerk by Rep. Lou Lang

Sponsors

  • Lou Lang · Cosponsor

Sponsorship breakdown

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0 sponsors · 1 co-sponsors · 182 not signed on · 18 voted No

Sponsors (0)

None.

Co-sponsors (1)

  • Lou Lang

Not signed on (182)

182 members have not signed on to this bill.

Show all 182 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Votes

Third Reading

Passed 45 Yea · 3 Nay · 11 Other
Party YeaNayPresentNot Voting
Unaffiliated 26106
Republican 8201
Democrat 11004
Total 453011
% of votes cast 76%5%0%19%
How each member voted (59)
Member Party Vote
Bertino-Tarrant — Yea
Biss — Yea
Bivins — Yea
Bush — Yea
McCarter — Nay
Mulroe — Yea
Landek — Yea
Manar — Yea
McCann — Yea
Muñoz — Yea
Raoul — Yea
Steans — Yea
Rooney — Yea
McGuire — Yea
Harris — Yea
Brady — Yea
Nathwani — Yea
Clayborne — Yea
Haine — Yea
Cullerton, T. — Yea
Bennett — Not Voting
Link — Yea
Cullerton — Not Voting
Silverstein — Not Voting
Connelly — Not Voting
Hutchinson — Not Voting
Oberweis — Yea
Righter — Yea
Sandoval — Not Voting
Schimpf — Yea
Martinez — Yea
Barickman — Yea
Van Pelt — Yea
Bill Cunningham Democrat Yea
Cristina Castro Democrat Yea
David Koehler Democrat Not Voting
Don Harmon Democrat Yea
Elgie R. Sims, Jr. Democrat Yea
Emil Jones, III Democrat Not Voting
Julie A. Morrison Democrat Yea
Kimberly A. Lightford Democrat Yea
Lakesia Collins Democrat Yea
Laura M. Murphy Democrat Not Voting
Linda Holmes Democrat Yea
Mattie Hunter Democrat Yea
Michael E. Hastings Democrat Yea
Omar Aquino Democrat Yea
Steve Stadelman Democrat Not Voting
Chapin Rose Republican Nay
Craig Wilcox Republican Not Voting
Dale Fowler Republican Yea
Dan McConchie Republican Yea
Dave Syverson Republican Yea
Donald P. DeWitte Republican Yea
Jil Tracy Republican Yea
John F. Curran Republican Yea
Neil Anderson Republican Nay
Sue Rezin Republican Yea
Travis Weaver Republican Yea

Official roll call →

Third Reading

Passed 72 Yea · 43 Nay · 3 Other
Party YeaNayPresentNot Voting
Unaffiliated 442703
Republican 3900
Democrat 25700
Total 724303
% of votes cast 61%36%0%3%
How each member voted (118)
Member Party Vote
Batinick — Nay
Bellock — Yea
Bourne — Nay
Breen — Yea
Bristow — Nay
Butler — Yea
Carroll — Nay
Connor — Nay
Conroy — Nay
Costello — Nay
McSweeney — Nay
Fortner — Yea
Hays — Yea
Greenwood — Yea
Sente — Yea
Sauer — Yea
Harris, David — Yea
Harris, Gregory — Yea
Hernandez — Yea
Burke, Daniel — Yea
Lang — Yea
Burke, Kelly — Yea
McDermed — Yea
Jones — Yea
Phillips — Nay
Stewart — Nay
Stratton — Yea
Davis — Yea
Tabares — Yea
Wheeler, Barbara — Yea
Wheeler, Keith — Yea
Thapedi — Yea
Williams — Yea
Mitchell, Christian — Yea
Wallace — Yea
Wehrli — Yea
Willis — Yea
Winger — Yea
Zalewski — Yea
Bennett — Nay
Brady — Nay
Cavaletto — Nay
Conyears-Ervin — Yea
Currie — Yea
D'Amico — Yea
Demmer — Yea
Durkin — Yea
Flowers — Yea
Frese — Nay
Hurley — Yea
Ives — Nay
Jesiel — Yea
Long — Nay
Madigan — Not Voting
Mitchell, Bill — Nay
Finnie, Natalie — Nay
Drury — Nay
McAuliffe — Nay
Unes — Not Voting
Welter — Nay
Jimenez — Yea
Olsen — Nay
Parkhurst — Nay
Pritchard — Yea
Reis — Nay
Riley — Yea
Skillicorn — Nay
Sommer — Nay
Soto — Yea
Turner — Not Voting
Yingling — Nay
Andersson — Yea
Arroyo — Yea
Chapa LaVia — Yea
Anna Moeller Democrat Yea
Anthony DeLuca Democrat Yea
Camille Y. Lilly Democrat Yea
Carol Ammons Democrat Yea
Emanuel "Chris" Welch Democrat Yea
Fred Crespo Democrat Yea
Jaime M. Andrade, Jr. Democrat Yea
Jay Hoffman Democrat Yea
Jehan Gordon-Booth Democrat Yea
Julie A. Morrison Democrat Nay
Justin Slaughter Democrat Yea
Katie Stuart Democrat Nay
Kelly M. Cassidy Democrat Yea
La Shawn K. Ford Democrat Yea
Laura Fine Democrat Yea
Lawrence "Larry" Walsh, Jr. Democrat Yea
Marcus C. Evans, Jr. Democrat Yea
Martin J. Moylan Democrat Nay
Michael W. Halpin Democrat Nay
Michelle Mussman Democrat Nay
Natalie A. Manley Democrat Nay
Nicholas K. Smith Democrat Yea
Rita Mayfield Democrat Yea
Robert "Bob" Rita Democrat Yea
Robert F. Martwick Democrat Yea
Robyn Gabel Democrat Yea
Sara Feigenholtz Democrat Yea
Sonya M. Harper Democrat Yea
Stephanie A. Kifowit Democrat Yea
Sue Scherer Democrat Nay
Theresa Mah Democrat Yea
Will Guzzardi Democrat Yea
Brad Halbrook Republican Nay
Charles Meier Republican Nay
Christopher "C.D." Davidsmeyer Republican Yea
Dan Swanson Republican Nay
Dave Severin Republican Nay
Joe C. Sosnowski Republican Yea
John M. Cabello Republican Nay
Norine K. Hammond Republican Nay
Ryan Spain Republican Nay
Steven Reick Republican Yea
Terri Bryant Republican Nay
Tony M. McCombie Republican Nay

Official roll call →

Subjects

finance labor
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

What does HB 4873 do?
Amends the Payday Loan Reform Act. Authorizes a lender to charge a borrower for the verification that the proposed loan agreement is permissible: a fee not to exceed $1 for a payday loan or a fee not to exceed $1 for each month that a balance is scheduled to be outstanding on an installment payday loan (rather than a fee not to exceed $1). Authorizes a certified consumer reporting service to charge the following verification fees upon a loan being made or entered into a certified database: a fee not to exceed $1 for a payday loan or a fee not to exceed $1 for each month that a balance is scheduled to be outstanding on an installment payday loan (rather than a fee not to exceed $1). Effective immediately.
Who sponsors HB 4873?
HB 4873 is sponsored by Lou Lang.
What is the current status of HB 4873?
This bill has been enacted into law. Introduced February 14, 2018. Enacted.
Where can I track HB 4873?
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