§ 1 Short title
§ 5 Purpose
§ 10 Scope
§ 15 Definitions
§ 20 Use of credit information
§ 22 Extraordinary life events
§ 25 Dispute resolution and error correction
§ 30 Initial notification
§ 35 Adverse action notification
§ 40 Filing
§ 45 Enforcement; rates not regulated
§ 50 Sale of policy term information by consumer reporting agency
§ 55 Severability
§ 95 The Illinois Insurance Code is amended by repealing Section 155.38
§ 99 Effective date

Terms Used In Illinois Compiled Statutes > 215 ILCS 157 - Use of Credit Information in Personal Insurance Act

  • Credit report: A detailed report of an individual's credit history prepared by a credit bureau and used by a lender in determining a loan applicant's creditworthiness. Source: OCC
  • Fair Credit Reporting Act: A federal law, established in 1971 and revised in 1997, that gives consumers the right to see their credit records and correct any mistakes. Source: OCC
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.