Section 205 ILCS 740/13.2 - [Section Scheduled to be Repealed 1/1/2026] Powers and duties of DepartmentThe Department shall exercise the powers and duties prescribed by the Financial Institutions Act for the administration of licensing Acts and shall exercise such other powers and duties necessary for effectuating the purposes of this Act.
Subject to the provisions of this Act, the Department may:
(1) Conduct hearings on proceedings to refuse to issue or renew or to revoke licenses or suspend, place on probation, or reprimand persons licensed under this Act.(2) To adopt rules consistent with the purposes of this Act, including, but not limited to: (i) rules in connection with the activities of collection agencies as may be necessary and appropriate for the protection of consumers in this State; (ii) rules as may be necessary and appropriate to define and enforce against improper or fraudulent business practices in connection with the activities of collection agencies; (iii) rules that define the terms used in this Act and as may be necessary and appropriate to interpret and implement the provisions of this Act; and (iv) rules as may be necessary for the enforcement of this Act.(3) Obtain written recommendations from the Board regarding standards of professional conduct, formal disciplinary actions and the formulation of rules affecting these matters. Notice of proposed rulemaking shall be transmitted to the Board and the Department shall review the response of the Board and any recommendations made in the response. The Department may solicit the advice of the Board on any matter relating to the administration and enforcement of this Act.Amended by P.A. 103-1014,§ 35, eff. 8/9/2024.Amended by P.A. 102-0975,§ 10, eff. 1/1/2023.Renumbered from 225 ILCS 425/13.2 by P.A. 102-0975,§ 95, eff. 1/1/2023.Amended by P.A. 100-0132,§ 5, eff. 8/18/2017.Amended by P.A. 099-0227,§ 945, eff. 8/3/2015.