AN ACT CONCERNING CONSUMER CREDIT AND COMMERCIAL FINANCING.
To: (1) Require cancellations of certain surety bonds to be submitted electronically; (2) modify procedures regarding changes to the legal names of certain licensees; (3) redefine "sales finance company"; (4) establish procedures for registering as an exempt mortgage servicer registrant; (5) establish requirements regarding private student education loan cosigner releases; (6) establish enforcement authority regarding registrants; (7) prohibit receiving fees in connection with small loans without a license; (8) redefine "mortgage servicer" and "servicing"; (9) define "private education lender" and "private education loan creditor"; (10) establish requirements regarding timelines and fees for certain registrants that are exempt from licensing; (11) modify various statutes relating to commercial financing; (12) modify registration and enforcement procedures regarding private education lenders and private education loan creditors; (13) require certain disclosures in connection with shared appreciation agreements; (14) make technical changes to various statutes regarding consumer credit; and (15) redefine "system".
Introduced by:
Banking Committee| New today | 2-4 days old | 5 days & older |
| Text of Bill | |
| Public Act No. 25-115 [doc] | |
| JUD Joint Favorable [doc] | |
| File No. 181 [doc] | |
| BA Joint Favorable [doc] | |
| Raised Bill [doc] |
| Called Amendments | |
| Senate Schedule A LCO# 8655 (J) [doc] |
| Uncalled Amendments | |
| Senate LCO Amendment #8308 (J) [doc] |
| Votes | |
| House Roll Call Vote 333 AS AMENDED | |
| Senate Roll Call Vote 203 |
| Committee Actions | |
| JUD Joint Fav. Rpt | |
| JUD Vote Tally Sheet (Joint Favorable) | |
| BA Joint Fav. Rpt | |
| BA Vote Tally Sheet (Joint Favorable) |
| Bill Analyses | |
| Bill Analysis for SB-1257, as amended by Senate "A" | |
| Bill Analysis For File Copy 181 |
Add Notes to SB-1257
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Co-sponsors for Amendment LCO:
Bill History
| Date | Action Taken | ||
|---|---|---|---|
| 7/1/2025 | Signed by the Governor | ||
| 6/25/2025 | Transmitted by Secretary of the State to Governor | ||
| 6/25/2025 | Transmitted to the Secretary of State | ||
| 6/16/2025 | (LCO) | Public Act 25-115 | |
| 6/3/2025 | In Concurrence | ||
| 6/3/2025 | House Passed as Amended by Senate Amendment Schedule A | ||
| 6/3/2025 | House Adopted Senate Amendment Schedule A | ||
| 5/22/2025 | House Calendar Number 623 | ||
| 5/22/2025 | Favorable Report, Tabled for the Calendar, House | ||
| 5/20/2025 | Senate Passed as Amended by Senate Amendment Schedule A | ||
| 5/20/2025 | Senate Adopted Senate Amendment Schedule A 8655 | ||
| 5/13/2025 | Favorable Report, Tabled for the Calendar, Senate | ||
| 5/13/2025 | No New File by Committee on Judiciary | ||
| 5/13/2025 | (LCO) | Reported Out of Legislative Commissioners' Office | |
| 5/13/2025 | (LCO) | Filed with Legislative Commissioners' Office | |
| 5/12/2025 | (JUD) | Joint Favorable | |
| 5/8/2025 | Immediate Transmittal | ||
| 5/8/2025 | Referred by Senate to Committee on Judiciary | ||
| 3/24/2025 | (LCO) | File Number 181 | |
| 3/24/2025 | Senate Calendar Number 146 | ||
| 3/24/2025 | Favorable Report, Tabled for the Calendar, Senate | ||
| 3/24/2025 | (LCO) | Reported Out of Legislative Commissioners' Office | |
| 3/17/2025 | (LCO) | Referred to Office of Legislative Research and Office of Fiscal Analysis 03/24/25 12:00 PM | |
| 3/6/2025 | (LCO) | Filed with Legislative Commissioners' Office | |
| 3/6/2025 | (BA) | Joint Favorable | |
| 2/7/2025 | Public Hearing 02/13 | ||
| 2/6/2025 | Referred to Joint Committee on Banking |
Co-sponsors of SB-1257
NOTE: Please direct all inquiries regarding the status of bills to the Office of the House Clerk and/or Senate Clerks' Office.
