Illinois HB4479 amends the Consumer Fraud and Deceptive Business Practices Act to regulate loan solicitations.
Illinois HB4479 amends the Consumer Fraud and Deceptive Business Practices Act by adding a new section that mandates specific disclosures for loan solicitations. It requires that any letter or postcard sent to a recipient in Illinois for the purpose of soliciting a loan must be sent in a white envelope or postcard and include a disclosure stating "THIS IS A LOAN SOLICITATION." The letter or postcard must also include the name and address of the creditor.
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