CONSUMER INSTALLMENT LOANS

Illinois General Assembly - Full Text of HB5262

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104TH GENERAL ASSEMBLY
State of Illinois
2025 and 2026
HB5262

Introduced 2/10/2026, by Rep. Justin Slaughter

SYNOPSIS AS INTRODUCED:

205 ILCS 670/17.5

Amends the Consumer Installment Loan Act. In provisions concerning
consumer reporting service, changes the definition of "title-secured loan"
to specify that the length of a title-secured loan is less than 12 months.
Provides that licensees that do not submit information to at least one
consumer reporting agency that compiles and maintains files on consumers
on a nationwide basis shall enter information (instead of licensees shall
enter information) regarding each loan into the certified database and
shall follow the Department of Financial and Professional Regulation's
related rules.
LRB104 18643 BAB 32086 b

A BILL FOR

HB5262
LRB104 18643 BAB 32086 b
1

AN ACT concerning regulation.

2

Be it enacted by the People of the State of Illinois,
3
represented in the General Assembly:

4

Section 5.
The Consumer Installment Loan Act is amended by
5
changing Section 17.5 as follows:

6

(205 ILCS 670/17.5)
7

Sec. 17.5.
Consumer reporting service.
8

(a) For the purpose of this Section, "certified database"
9
means the consumer reporting service database established
10
pursuant to the Payday Loan Reform Act. "Title-secured loan"
11
means a loan
less than 12 months in length
in which, at
12
commencement, a consumer provides to the licensee, as security
13
for the loan, physical possession of the consumer's title to a
14
motor vehicle.
15

(b) Licensees
that do not submit information to at least
16
one consumer reporting agency that compiles and maintains
17
files on consumers on a nationwide basis, as that term is used
18
in 15 U.S.C. 1681a(p),
shall enter information regarding each
19
loan into the certified database and shall follow the
20
Department's related rules.
21

(c) For every title-secured loan made, the licensee shall
22
input information as provided in 38 Ill. Adm. Code 110.420.
23

(d) The certified database provider shall indemnify the

HB5262
- 2 -
LRB104 18643 BAB 32086 b
1
licensee against all claims and actions arising from illegal
2
or willful or wanton acts on the part of the certified database
3
provider. The certified database provider may charge a fee not
4
to exceed $1 for each loan entered into the certified
5
database. The database provider shall not charge any
6
additional fees or charges to the licensee.
7
(Source: P.A. 101-658, eff. 3-23-21.)

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