Text Size
Login
config

Castro: Rauner prioritized big banks over local consumers

Castro080318ELGIN–Gov. Bruce Rauner prioritized big banks over Illinois consumers Friday, vetoing consumer protection legislation championed by State Senator Cristina Castro (D-Elgin).

On Friday, Rauner did not approve Castro’s House Bill 4922, which would have prohibited rebate cards from charging inactivity fees. The legislation would have expanded existing gift card regulations to rebate cards.

“Gov. Bruce Rauner prioritized big banks over local consumers,” Castro said. “This measure would hold big banks accountable and help prevent them from deceiving Illinois residents with unnecessary and burdensome fees.”

 

The vetoed measure was an initiative of the Illinois State Treasurer to prevent banks from taking unclaimed property on rebate cards.

Under current law, companies can issue a rebate in the form of a check to a consumer, and if the check is not cashed within three years, the company is required to turn the amount of the check over to the Treasurer's Office as unclaimed property.
Castro pledges to continue to work with the State Treasurer and Attorney General to protect Illinois consumers who have money owed to them from rebates.  

“If a consumer is owed money from a rebate, they shouldn’t be hindered by dormancy fees,” Castro said. “It is unfair and should be unlawful. Consumers shouldn’t be at risk of being charged for getting a rebate. It’s their money.”

Sign up for The Majority Report HERE
Majority Report Podcast
Find Your Legislator

News Releases

IMAGE Hunter’s new law will help keep families together
Tuesday, 21 August 2018
SPRINGFIELD – State Senator Mattie Hunter (D-Chicago) championed a plan which was signed into law this week to prevent children with serious...

Read More...
IMAGE Cullerton champions new breast cancer awareness law
Tuesday, 21 August 2018
VILLA PARK – Women across Illinois will now have better breast cancer detection, thanks to a law sponsored by State Senator Tom Cullerton...

Read More...
IMAGE Violent Offender database registrants may appeal under new law by Collins
Tuesday, 21 August 2018
CHICAGO – To improve oversight and accuracy of the state’s Murderer and Violent Offender Against Youth database, a new law by State...

Read More...
IMAGE Hunter plan to prevent future Chicago Public School closures becomes law
Tuesday, 21 August 2018
SPRINGFIELD –State Senator State Senator Mattie Hunter’s (D-Chicago) plan to prevent future closures of Chicago Public Schools without...

Read More...
IMAGE Castro: Governor Rauner continues his war on Illinois workers
Tuesday, 21 August 2018
ELGIN— Gov. Bruce Rauner has continued his tirade on the working class by rejecting two measures that would benefit Illinois’ emergency...

Read More...

Follow ILSenDems

Facebook Instagram Twitter YouTube

Senate Schedule
General Assembly Bills & Resolutions
The Great Pension Debate
Find local cooling centers