Governor Signs Consumer Fairness Act
Illinois Governor, J.B. Pritzker, stopped by CVLS to sign the Consumer Protection Act, HB88
Illinois Governor J.B. Pritzker signed the new Consumer Fairness Act at CVLS on July 29, providing relief to the residents of Illinois from predatory interest rates on their debt. Thanks to the bill, post-judgment interest rates will drop from 9 percent to 5 percent, and the collection window will shrink from 26 years to 17 years.
“Consumer debt is at an all-time high all across the United States, and there are millions of people, including too many Illinois families, who are struggling under unconscionable circumstances,”
-Gov J.B. Pritzker
Thank you to CVLS’ Matt Hulstein, Governor Pritzker, Illinois house and senate members, and all of the fellow legal aid organizations and employees who have worked so hard for so long to make this bill a reality.
HB88 takes effect January 1, 2020.