Illinois 104th General Assembly Status: Introduced 1 D cosponsors

HB2595      — BUSINESS TRUTH IN LENDING ACT

Last action — Rule 19(a) / Re-referred to Rules Committee

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

This bill has been introduced in the House. Introduced February 04, 2025. It must pass committee before a floor vote.

Next likely step: a committee referral and hearing.

Odds of enactment

Low chance

Based on the sponsor, cosponsors, and committee posture, this bill has a low chance of becoming law.

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A statistical estimate from our own model of past outcomes — an insight, not a guarantee. Policymaking is volatile.

Prognosis

Not enough signal yet

Not enough signal yet to read this bill's trajectory — we surface a likelihood only once there's real movement (stage, sponsorship, committee, or votes) to point to.

Based on stage, sponsorship breadth, committee status, recorded votes, and cross-state momentum — a description of the observable signals, not a prediction.

Summary

Creates the Small Business Financing Transparency Act. Sets forth provisions concerning registration requirements for persons providing commercial financing; additional registration information; registration expiration; functions, power, and duties; subpoena power of the Secretary of Financial and Professional Regulation; disclosure requirements; commercial financing disclosure forms approved for use in other states; violation of disclosure requirements; notification; suspension of registrations, civil penalties, and other discipline; investigation of complaints; confidentiality; appeal and review; registration fees; cease and desist orders; injunctions; exemptions; complaint disclosure; rules; violations; limitations on liability; beginning of registration; beginning of disclosure requirements; severability; and a commercial financing database. Amends the Freedom of Information Act and the Consumer Fraud and Deceptive Business Practices Act to make conforming changes. Effective immediately.

Bill Text

We don't have the full text on file for this bill yet.

Read HB2595 on the official Illinois source →

Action History

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

  2. Assigned to Financial Institutions and Licensing Committee

  3. Referred to Rules Committee

  4. First Reading

  5. Filed with the Clerk by Rep. Curtis J. Tarver, II

Sponsors

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 182 not signed on

Sponsors (1)

Co-sponsors (0)

None.

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

Subjects

finance
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 HB2595      do?
Creates the Small Business Financing Transparency Act. Sets forth provisions concerning registration requirements for persons providing commercial financing; additional registration information; registration expiration; functions, power, and duties; subpoena power of the Secretary of Financial and Professional Regulation; disclosure requirements; commercial financing disclosure forms approved for use in other states; violation of disclosure requirements; notification; suspension of registrations, civil penalties, and other discipline; investigation of complaints; confidentiality; appeal and review; registration fees; cease and desist orders; injunctions; exemptions; complaint disclosure; rules; violations; limitations on liability; beginning of registration; beginning of disclosure requirements; severability; and a commercial financing database. Amends the Freedom of Information Act and the Consumer Fraud and Deceptive Business Practices Act to make conforming changes. Effective immediately.
Who sponsors HB2595     ?
HB2595      is sponsored by Curtis J. Tarver, II (Democrat).
What is the current status of HB2595     ?
This bill has been introduced in the House. Introduced February 04, 2025. It must pass committee before a floor vote.
Where can I track HB2595     ?
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Last checked for changes 3 months ago · updated continuously

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