# Illinois SB1512: CONSUMER FIN PROTECTION LAW

Illinois SB1512, CONSUMER FIN PROTECTION LAW, is a 104th General Assembly (2025–2026) Senate bill sponsored by Mark L. Walker (Democratic); status in committee, last action 2025-03-19 (Added as Co-Sponsor Sen. Rachel Ventura) (as of 2026-11-01).

- Canonical: https://policyrisk.com/state-bill/IL-SB1512-2025-2026
- As of: 2026-11-01
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: Illinois SB1512
- State: Illinois
- Session: 104th General Assembly (2025–2026)
- Title: CONSUMER FIN PROTECTION LAW
- Status: in committee
- Chamber: Senate
- Introduced: 2025-02-04
- Last action: 2025-03-19, Added as Co-Sponsor Sen. Rachel Ventura
- Sponsor: Mark L. Walker (Democratic)
- Cosponsors: 2
- Subjects: assignments
- Touches household money: no
- Economic provisions PRIA read: 0

## Summary

Creates the Consumer Financial Protection Law. Creates the Financial Protection Fund. Sets forth provisions concerning findings and purpose, exemptions, administration of the provisions, funds, supervision, registration requirements, consumer protection, cybersecurity, anti-fraud and anti-money laundering, enforcement, procedures, and rulemaking. Defines terms. Makes conforming changes in the Freedom of Information Act and the State Finance Act. Changes the name of the Financial Institutions Code to the Financial Institutions Act. Sets forth additional powers and duties of the Division of Financial Institutions. Sets forth provisions concerning court orders, penalty of perjury, character and fitness of licensees, and consent orders and settlement agreements. Removes specified provisions. Defines terms. Makes other changes. Makes a conforming change in the Collection Agency Act. Amends the Currency Exchange Act, the Sales Finance Agency Act, the Debt Management Service Act, the Consumer Installment Loan Act, and the Debt Settlement Consumer Protection Act. Changes application, license, and examination fees. Effective January 1, 2026.

## Bill overview

No economic impacts identified for this bill.

## Sponsors and cosponsors

- Sponsor: Mark L. Walker (Democratic), Senate
- Cosponsor: Karina Villa (Democratic), Senate
- Cosponsor: Rachel Ventura (Democratic), Senate

## Actions (5)

- 2025-03-19: Added as Co-Sponsor Sen. Rachel Ventura (Senate)
- 2025-03-18: Added as Co-Sponsor Sen. Karina Villa (Senate)
- 2025-02-04: Referred to Assignments (Senate)
- 2025-02-04: First Reading (Senate)
- 2025-02-04: Filed with Secretary by Sen. Mark L. Walker (Senate)

## Bill text

- Introduced: [PDF](https://www.ilga.gov/documents/legislation/104/SB/PDF/10400SB1512.pdf)

## Related bills

- HB5198: AFFORDABLE HOUSING-CILAS (passed house)
- SB1937: PENSION CODE-VARIOUS (passed senate)
- HB2563: CONDO-RESERVE STUDY (in committee)
- HB4701: LIMITATIONS FACILITY FEES ACT (in committee)
- SB3008: DHS-ABLE PROGRAM INFO MATERIAL (passed senate)
- SB3484: VEH CD-PLATES-REGISTRATION (signed)

## Sources
- [Introduced (PDF)](https://www.ilga.gov/documents/legislation/104/SB/PDF/10400SB1512.pdf)

## Related
- [HB5198: AFFORDABLE HOUSING-CILAS](https://policyrisk.com/state-bill/IL-HB5198-2025-2026)
- [SB1937: PENSION CODE-VARIOUS](https://policyrisk.com/state-bill/IL-SB1937-2025-2026)
- [HB2563: CONDO-RESERVE STUDY](https://policyrisk.com/state-bill/IL-HB2563-2025-2026)
- [HB4701: LIMITATIONS FACILITY FEES ACT](https://policyrisk.com/state-bill/IL-HB4701-2025-2026)
- [SB3008: DHS-ABLE PROGRAM INFO MATERIAL](https://policyrisk.com/state-bill/IL-SB3008-2025-2026)
- [SB3484: VEH CD-PLATES-REGISTRATION](https://policyrisk.com/state-bill/IL-SB3484-2025-2026)
- [Illinois bills](https://policyrisk.com/states/illinois/bills)
- [Illinois state hub](https://policyrisk.com/states/illinois)
- [All state legislation](https://policyrisk.com/state-bills)

Source: PRIA, https://policyrisk.com/state-bill/IL-SB1512-2025-2026 (as of 2026-11-01).