CHICAGO, IL – August 29, 2011 – (RealEstateRama) — August 26, 2011. As part of his ongoing commitment to consumer protection, Governor Pat Quinn today signed legislation that will enhance safeguards for borrowers and tenants. The new laws will give the Illinois Commerce Commission (ICC) increased oversight of entities that repossess collateral in the case of defaulted loans. They will also strengthen tenants’ rights to their security deposits after a change in property ownership.
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