Illinois Compiled Statutes 815 ILCS 375/24 – (a) Any person who knowingly violates this Act is guilty of a Class A misdemeanor
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Terms Used In Illinois Compiled Statutes 815 ILCS 375/24
- Contract: A legal written agreement that becomes binding when signed.
- Finance charge: The total cost of credit a customer must pay on a consumer loan, including interest. The Truth in Lending Act requires disclosure of the finance charge. Source: OCC
(b) No person who violates this Act, except as a result of an accident or bona fide error of computation, may recover any unpaid finance charge, delinquency or collection charge, or refinance charge in connection with the related retail installment contract.