IABG advocates for policy solutions that close the racial wealth gap, expand savings opportunities, and protect Illinoisans from predatory financial practices. Over the past couple of months, we’ve seen bills introduced in the Illinois General Assembly that promote college savings, reduce burdensome fines & fees, reform the use of driver’s license suspension, and more. Here’s a look at our 2017 legislative priorities.
Leading Legislative Priorities
HB3691 – Universal Children’s Savings Accounts: Establishes a statewide CSA program in which every child in Illinois has a 529 account opened for them at birth with an initial seed deposit, and a matched savings component for low-income families. Learn more about this campaign and sign on in support.
SB1246 – Protect Savings from Debt Collection: Protects 529 college savings accounts and ABLE accounts from debt collection attempts.
HB3177 – Driver’s License Suspension Reform: Prohibits driver’s license suspension for non-moving violations.
Legislative Priorities that we Support
SB1706 – Fairness in Car Insurance Rates: Prohibits the use of credit information and markers of personal economic status when determining car insurance rates.
SB983 – Reforming Forced Arbitration: Prevents a company from requiring a consumer to submit any dispute that may arise to binding arbitration as a condition of buying a product or service.
HB2591 – Statutory Court Assessment Reform: Streamlines and reduces fines & fees in the court system.
SB929 – Regulate Debit & Prepaid Cards on College Campuses: Provides safeguards for college students receiving financial aid on debit or prepaid cards.
Defend existing regulation for payday and auto title loans, debt collection, and other financial products and practices that affect Illinois families.