Section 775 ILCS 5/4-101 - Definitions The following definitions are applicable strictly in the context of this Article:
(A) Credit Card. "Credit card" has the meaning set forth in Section 17-0.5 of the Criminal Code of 2012.(B) Financial Institution. "Financial institution" means any bank, credit union, insurance company, mortgage banking company or savings and loan association which operates or has a place of business in this State.(C) Loan. "Loan" includes, but is not limited to, the providing of funds, for consideration, which are sought for: (1) the purpose of purchasing, constructing, improving, repairing, or maintaining a housing accommodation as that term is defined in paragraph (C) of Section 3-101; or (2) any commercial or industrial purposes.(D) Varying Terms. "Varying the terms of a loan" includes, but is not limited to, the following practices:(1) Requiring a greater down payment than is usual for the particular type of a loan involved.(2) Requiring a shorter period of amortization than is usual for the particular type of loan involved.(3) Charging a higher interest rate than is usual for the particular type of loan involved.(4) An under appraisal of real estate or other item of property offered as security.Amended by P.A. 097-1150,§ 825, eff. 1/25/2013.Amended by P.A. 096-1551,§ 10-160, eff. 7/1/2011.Amended by P.A. 095-0331,§ 1210, eff. 8/21/2007.