Illinois Administrative Code
Title 38 - FINANCIAL INSTITUTIONS
Part 210 - PAYDAY LOAN REFORM ACT
Section 210.240 - Consumer Written Verification of Compliance with Act
Universal Citation: 38 IL Admin Code ยง 210.240
Current through Register Vol. 48, No. 12, March 22, 2024
a) Prior to the implementation of a certified database and in the absence of the availability of a certified database, a consumer written verification form must be completed to verify that a proposed loan agreement is permissible under the Act.
b) The written verification must be in a form approved by the Director.
c) The consumer must complete and sign the form attesting that the consumer understands that the lender making the loan under the Act is relying on the verification to determine whether the loan for which the consumer applied is permissible under the Act.
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