Illinois 95th Regular Session Status: Passed Senate

SB 549 — SHORT-TERM & TITLE LOANS

Last action — Session Sine Die

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

This bill died with 95th Regular Session. It reached “Passed Senate” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Summary

Creates the Title Loan Regulation Act. Provides that the Department of Financial and Professional Regulation shall license and regulate entities that offer title loans. Establishes requirements and restrictions applicable to license applications and licensing. Sets forth limitations, requirements, and disclosures applicable to loan agreements, terms of loans, finance charges, and renewal of loans. Provides for: revocation, suspension, and surrender of licenses; information to be available to the public; complaint handling; hearings; books and records; reports; advertising; prohibited acts; requirements and restrictions applicable to vehicle and boat titles; liens; penalties; enforcement; bonding; administrative rules; and other matters. Amends the Financial Institutions Code to provide that the Department of Financial and Professional Regulation shall administer the Title Loan Regulation Act. Amends the Consumer Installment Loan Act to provide that the Act does not apply to title loans. Provides that a knowing violation of the Title Loan Regulation Act constitutes an unlawful practice under the Consumer Fraud and Deceptive Business Practices Act. Effective immediately.

Bill Text

Action History

  1. Session Sine Die

  2. Rule 2-10 Third Reading Deadline Established As January 13, 2009

  3. Pursuant to Senate Rule 3-9(b) / Referred to Rules

  4. Rule 2-10 Third Reading Deadline Established As December 31, 2007

  5. Rule 2-10 Third Reading Deadline Established As May 31, 2007

  6. Placed on Calendar Order of 3rd Reading March 27, 2007

  7. Second Reading

  8. Added as Chief Co-Sponsor Sen. Jacqueline Y. Collins

  9. Added as Chief Co-Sponsor Sen. Kimberly A. Lightford

  10. Placed on Calendar Order of 2nd Reading March 20, 2007

  11. Do Pass as Amended Financial Institutions; 009-000-000

  12. Senate Committee Amendment No. 1 Adopted

  13. Senate Committee Amendment No. 1 Rules Refers to Financial Institutions

  14. Senate Committee Amendment No. 1 Referred to Rules

  15. Senate Committee Amendment No. 1 Filed with Secretary by Sen. William Delgado

  16. Assigned to Financial Institutions

  17. Referred to Rules

  18. First Reading

  19. Filed with Secretary by Sen. William Delgado

Sponsors

  • William Delgado · Cosponsor

Sponsorship breakdown

Export CSV (upgrade) →

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

Sponsors (0)

None.

Co-sponsors (1)

  • William Delgado

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 SB 549 do?
Creates the Title Loan Regulation Act. Provides that the Department of Financial and Professional Regulation shall license and regulate entities that offer title loans. Establishes requirements and restrictions applicable to license applications and licensing. Sets forth limitations, requirements, and disclosures applicable to loan agreements, terms of loans, finance charges, and renewal of loans. Provides for: revocation, suspension, and surrender of licenses; information to be available to the public; complaint handling; hearings; books and records; reports; advertising; prohibited acts; requirements and restrictions applicable to vehicle and boat titles; liens; penalties; enforcement; bonding; administrative rules; and other matters. Amends the Financial Institutions Code to provide that the Department of Financial and Professional Regulation shall administer the Title Loan Regulation Act. Amends the Consumer Installment Loan Act to provide that the Act does not apply to title loans. Provides that a knowing violation of the Title Loan Regulation Act constitutes an unlawful practice under the Consumer Fraud and Deceptive Business Practices Act. Effective immediately.
Who sponsors SB 549?
SB 549 is sponsored by William Delgado.
What is the current status of SB 549?
This bill died with 95th Regular Session. It reached “Passed Senate” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track SB 549?
Track SB 549 free on One Click Politics — get push/email alerts when it moves.

Make your voice heard on SB 549

Find the representatives who decide this bill and tell them where you stand — for yourself, or mobilize your whole list in one click with One Click Politics advocacy software.

Find my representatives → Run a campaign

Stay ahead of SB 549

Last checked for changes 3 months ago · updated continuously

One Click Politics tracks every bill in Congress and all 50 states.

Track this bill →