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Consumer Financial Products › Illinois

Troutman Pepper Locke

Illinois Amends Student Loan Servicing Rights Act to Include Educational Income Share Agreements

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On August 15, Illinois Governor JB Pritzker approved Public Act 104-0383. This legislation, effective immediately, amends the Student Loan Servicing Rights Act and introduces Article 7, focusing on Educational Income Share...more

Ballard Spahr LLP

Illinois swipe fee injunction extended to cover out-of-state banks, but not federal credit unions

Ballard Spahr LLP on

Chief Judge Virginia Kendall of the Northern District of Illinois has extended her preliminary injunction prohibiting Illinois from enforcing the Illinois Interchange Fee Prohibition Act (the “IFPA”) to cover out-of-state...more

Cozen O'Connor

Illinois Insights: An update from Cozen O'Connor (2/10)

Cozen O'Connor on

Judge declines to extend ‘swipe fee’ injunction to credit unions, applies it to out-of-state banks - “A federal judge on Thursday declined to issue an injunction to stop an Illinois law that bans certain credit card fees...more

Cozen O'Connor

Illinois Insights: An update from Cozen O'Connor (2/3)

Cozen O'Connor on

Heading into budget season, Gov. JB Pritzker faces major challenge to show ‘Illinois can govern itself’ - “With Gov. JB Pritzker still weighing whether to seek a third term, the firmer foundation he’s laid for Illinois’...more

Troutman Pepper Locke

Illinois AG Warns Consumers About AI Fraud

Troutman Pepper Locke on

Illinois Attorney General (AG) Kwame Raoul recently issued a consumer alert to Illinois consumers regarding the use of artificial intelligence (AI) by phone scammers. According to the alert, phone scammers are regularly...more

Orrick, Herrington & Sutcliffe LLP

Illinois announces new consumer protections for digital assets, proposes new money transmitter licensing provisions

Orrick, Herrington & Sutcliffe LLP on

On February 21, the Illinois Department of Financial and Professional Regulation (IDFPR) announced several legislative initiatives to establish consumer protections for cryptocurrencies and other digital assets and provide...more

Shipkevich PLLC

Illinois Proposes Consumer Protection Measures for Cryptocurrencies and Digital Assets

Shipkevich PLLC on

On February 21, 2023, the Illinois Department of Financial and Professional Regulation (IDFPR) unveiled a Consumer Financial Protection and Innovation Package, consisting of two legislative initiatives that aim to protect...more

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