Illinois HB 5262: CONSUMER INSTALLMENT LOANS

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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

HB5262LRB104 18643 BAB 32086 b

1 AN ACT concerning regulation.

2 Be it enacted by the People of the State of Illinois, 

3represented in the General Assembly:

4 Section 5. The Consumer Installment Loan Act is amended by 

5changing 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" 

9means the consumer reporting service database established 

10pursuant to the Payday Loan Reform Act. "Title-secured loan" 

11means a loan less than 12 months in length in which, at 

12commencement, a consumer provides to the licensee, as security 

13for the loan, physical possession of the consumer's title to a 

14motor vehicle.

15 (b) Licensees that do not submit information to at least 

16one consumer reporting agency that compiles and maintains 

17files on consumers on a nationwide basis, as that term is used 

18in 15 U.S.C. 1681a(p), shall enter information regard