“This measure is common sense in a lot of ways, as it not only promotes being environmentally friendly, but also simplicity, efficiency and keeping up with as well utilizing the advantages our digital age.” – Sen. Emil Jones III

SPRINGFIELD – State Senator Emil Jones III (D–Chicago) passed legislation last week that will aid municipalities to get in line with current technology.

Jones’ bill allows for technical submissions prepared using a computer to also computer-generate the seal, signature, current date and date of license expiration. Current Illinois law does not allow the use of electronic signatures in any permitting, licensing or other regulatory function.

“This measure is common sense in a lot of ways, as it not only promotes being environmentally friendly, but also simplicity, efficiency and keeping up with as well utilizing the advantages of our digital age,” Jones said. “I am happy I was able to cooperate with my fellow Senators in getting this legislation passed and look forward to similar outcomes in the House.”

SB 1826 passed the Senate last Friday with a vote of 51-0-0 and now awaits the further consideration of the Illinois House.

“Legislation like this that calls for greater transparency and accountability on the part of reloadable card service providers is going to help us realize this much needed change for consumers.” – Sen. Emil Jones III

SPRINGFIELD – State Senator Emil Jones III (D–Chicago) saw his measure aimed toward consumer protection pass the Illinois Senate Friday.

Jones’ legislation subjects prepaid, reloadable credit cards and their providers to substantive disclosure regulations regarding all associated fees and service charges.

“Currently prepaid credit cards and their distributors are not made to adhere to sufficient disclosure stipulations,” Jones said. “They are not being held adequately responsible to clients. Legislation like this that calls for greater transparency and accountability on the part of reloadable card service providers is going to help us realize this much needed change for consumers.”

Reloadable, prepaid credit cards were exempted from the disclosure requirements of 2009’s federal Credit Card Accountability, Responsibility, and Disclosure or “CARD” Act. Senate Bill 1829 establishes a standard set of disclosures for consumers to receive from credit card companies or issuers upon purchase of a prepaid, reloadable credit card.

The disclosure regulations would inform consumers of any maintenance fees accompanying the prepaid credit card and its use, charges associated with receiving cash, reloading fees and costs of establishing service.

Senate Bill 1829 passed the Senate and now moves to and awaits the further consideration of the Illinois House.

“Right now, issuers of these general-use reloadable cards do not have to provide a lot of pertinent information regarding their services that consumers need and deserve. They are not being held responsible to clients.” – Sen. Emil Jones III

SPRINGFIELD – State Senator Emil Jones III (D–Chicago) advanced legislation this week providing reloadable, prepaid general use credit cards be subject to disclosure provisions.

“This is significant because currently, prepaid credit cards and their distributors are not made to adhere to any substantial disclosure regulations,” Jones said. “Right now, issuers of these general-use reloadable cards do not have to provide a lot of pertinent information regarding their services that consumers need and deserve. They are not being held responsible to clients. This needs to change, and legislation like this that calls for greater transparency and accountability on the part of service providers is going to help us realize that change.”

 Reloadable, prepaid credit cards were exempted from the disclosure requirements of 2009’s federal Credit Card Accountability, Responsibility, and Disclosure or “CARD” Act. SB 1829 establishes a standard set of disclosures for consumers to receive from credit card companies or issuers upon purchase of a prepaid, reloadable credit card.

The disclosures would inform consumers of fees accompanying the prepaid credit card and the product’s use, including the total cost of establishing service, maintenance fees, charges associated with receiving cash and reloading fees.

Senate Bill 1829 passed the Senate Financial Institutions Committee with a unanimous favorable vote. 

The legislation now awaits further consideration by the full Senate.