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Castro urges governor to sign measure for Illinois consumer protection

castro 051218SPRINGFIELD – State Senator Cristina Castro (D-Elgin) is urging Governor Bruce Rauner to sign House Bill 4922 into law to prohibit rebate cards that charge inactivity fees and avoid unclaimed property laws.

HB 4922 recently passed the Illinois General Assembly with bipartisan support. The measure makes it unlawful for retailers to offer consumers a rebate made on a store-value card that charges “dormancy” or inactivity fees or other post-issuance fees.

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

In the past, companies would issue a rebate in the form of a check to a consumer. Under current law, 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.

This measure was an initiative from the Illinois State Treasurer to prevent banks from taking unclaimed property on rebate cards. The State Treasurer and the Attorney General have worked together to protect Illinois consumers who have money owed to them from rebates.  

“This bill ensures that we can hold big banks accountable and prevent them from deceiving consumers,” Castro said. “I’m calling on the Governor to sign this bill and protect consumers from rebate fraud.”

Sen. Cristina Castro

Senator Cristina Castro

22nd Legislative District

Years served: 2017 - Present

Committee assignments: Commerce and Economic Development; Committee of the Whole; Financial Institutions; Higher Education; Local Government; Telecommunications & InfoTechnology; Transportation (Vice-Chairperson).

Associated Representative(s): Anna Moeller, Fred Crespo