Illinois Department of Financial & Professional Regulation Illinois Department of Financial & Professional Regulation
Bryan A. Schneider, Secretary  
Bruce Rauner, Governor
www.idfpr.comAgency Quick Links
IDFPR Home Page
Military Families
License Look Up
Physician Profile
License Renewals
Latest News
Mandatory State's Attorneys Reports
Medical Cannabis Program
Discipline Information
FOID Mental Health Reporting
Information About
Non-banking Financial Institutions
Professional Regulation
Real Estate
Contact Information
General FAQs
Boards & Committees
State of Illinois Appointments
State of Illinois
Agencies, Boards & Commissions
Division Overview

Consumer Credit Section

2013 Illinois Trends Report

Consumer Credit Section Brochure (PDF)


The Division of Financial Institutions, Consumer Credit Section is responsible for licensing and regulating consumer companies/services.  They include: Consumer Installment lenders, Sales Finance Agencies, Payday Loan lenders, Debt Management services, Money Transmitter services and Safe Deposit Boxes.  In addition the Consumer Credit Section investigates consumer inquiries and complaints. 

For more information, applications and/or fees information call 312-814-5145 or
Toll Free 1-888/298-8089

Consumer Installment Lenders  

person, partnership, association, limited liability company or corporations who engage in the business of making loans of money in a principal amount not exceeding $40,000.00, and charge, contract for, or receive on any such loan a greater rate of interest, discount, or consideration therefore than the lender would be permitted by law to charge if it were not a licensee hereunder, except as authorized by CILA after first obtaining a license from the Director of Financial Institutions.
Click here to see Title-Secured Loan Rule amendments effective April 2009

Payday Loan Lenders  

person, partnership, association, limited liability company, or corporation who engages in the business of making payday loans as defined by the Act as no less than 13 days nor more than 180 days and charging a finance charge of no more than $15.50 per $100 on a loan.

Three Year Payday Loan Reform Act Report

Sales Finance Agencies  

person irrespective of his or her state of domicile or place of business, engaged in the State of Illinois, in whole or in part, in the business of purchasing, or making loans secured by, retail installment contracts, retail charge agreements or the outstanding balance under such contracts or agreements entered into in this State.

Development Credit Corporation Act  

This statute provides for licensing of corporations designed to make loans to small or medium-sized businesses unable to obtain financing through conventional sources.

Debt Management Services  

means the planning and management of the financial affairs of a debtor for a fee and the receiving of money from the debtor for the purpose of distributing it to the debtor's personal creditors in payment or partial payment of the debtor's obligations or soliciting financial contributions from creditors. The business of debt management is conducted in this State if the debt management business, its employees, or its agents are located in this State or if the debt management business solicits or contracts with debtors located in this State.

Debt Settlement Consumer Protection Act  

The purpose of this Act is to protect consumers who enter into agreements with debt settlement providers and to regulate debt settlement providers.

Money Transmittal Services (TOMA)  

person engage in this State in the business or selling or issuing payment instruments, transmitting money or exchanging, for compensation, payment instruments or money of the United States government or a foreign government to or from money of another government.

Changes to Remittance Transfer Rule, effective October 28, 2013, can be found here.

Safe Deposit Box Services  

engage in the business of renting or permitting the use of for compensation, safety deposit boxes, safes, vaults or other facilities for safekeeping of personal property unless he/she has been issued a license to do so.

Consumer Credit Section
Division Overview
Acts & Rules
Changes to Remittance Transfer Rule Notice
Applications & Forms
New Debt Settlement Act
Annual Report
Renewal Forms
Complaint Form
Consumer Installment Loan Act Applicant List
Como Detectar, Prevenir y Evitar el Fraude
External Links
State Features
Illinois AMBER Alert
Illinois Business Portal
Illinois Veterans Care
Illinois workNet