Section 205 ILCS 511/15-10 - Fees(a) It is unlawful for any pawnbroker to charge or collect a greater benefit or percentage upon money advanced, and for the use and forbearance thereof, than the amount specified in subsection (c). Nothing in this Section shall be construed to conflict with the law pertaining to usury and the person receiving money so advanced may hold the moneys to pay any fees in addition to interest.(b) Each pawnbroker, when making a pawn under this Section, must disclose in printed form on the pawn contract the following information to the persons receiving the pawn:(1) the amount of money advanced, which must be designated as the amount pawned;(2) the maturity date of the pawn, which must be at least 30 days after the originating date of the pawn;(3) the total pawn interest and service charge payable on the maturity date, which must be designated as the finance charge;(4) the total of payments that must be paid to redeem the pledged goods on the maturity date, which must be designated as the total of payments; and(5) the annual percentage rate, computed according to the regulations adopted by the Consumer Financial Protection Bureau under the federal Truth in Lending Act.(c) Each pawnbroker may contract for and receive a monthly finance charge, including interest and fees not to exceed one-fifth of the pawn amount for pawns under $500; one-sixth of the pawn amount for pawns at or above $500 and less than $1,500; one-eighth of the pawn amount for pawns at or above $1,500 and less than $5,000; and one-twentieth of the pawn amount for pawns at or above $5,000, pursuant to Section 15-30, for appraising, investigating title, storing, insuring the pledged property, making daily reports to local law enforcement including enhanced computerized reporting, and complying with regulatory requirements. Such fees, when made and collected, shall not be deemed interest for any purpose of law. A pawnbroker shall not require a customer to pay such fees by means of an electronic fund transfer, as that term is defined in Section 10 of the Electronic Fund Transfer Act, including through the use of an automated clearinghouse system.(d) Notwithstanding any inconsistent provision of law, a pawn transaction made pursuant to this Act shall be exempt from the provisions of the Predatory Loan Prevention Act.Added by P.A. 103-0585,§ 15-10, eff. 3/22/2024.