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Illinois Collection Agency Act oversight transferred to the Division of Financial Institutions

Effective November 20, 2023, the Illinois Department of Financial and Professional Regulation has adopted provisions relating to the Illinois Collection Agency Act.

Under the Notice of Adopted Repealer, Public Act 102-975 transfers oversight of debt collection agencies from the Division of Professional Regulation to the Division of Financial Institutions.

As new regulations are expected to be introduced to align with agency standards, the Department proposes to repeal the previous regulations.

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Credit Village is today the meeting and reference point - through its three areas, web, publishing, events - for professionals, managers, entrepreneurs and credit management operators. It was founded in 2002 with the aim of spreading the culture of Credit and Collection Management in Italy.

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