ILCS » Chapter 205 · Act 635

205 ILCS 635/4-16

Private right of action

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(205 ILCS 635/4-16)
    Sec. 4-16. Private right of action. A borrower injured by a violation of the standards, duties, prohibitions, or requirements of Sections 5-6, 5-7, 5-8, 5-9, 5-10, 5-11, 5-12, 5-14, 5-15, and 5-16 of this Act shall have a private right of action.
    (a) A licensee is not liable for a violation of this Act if:
        (1) within 30 days of the loan closing and prior to
    
receiving any notice from the borrower of the violation, the licensee has made appropriate restitution to the borrower and appropriate adjustments are made to the loan; or
        (2) the violation was not intentional and resulted
    
from a bona fide error in fact, notwithstanding the maintenance of procedures reasonably adopted to avoid such errors, and within 60 days of the discovery of the violation and prior to receiving any notice from the borrower of the violation, the borrower is notified of the violation, appropriate restitution is made to the borrower, and appropriate adjustments are made to the loan.
    (b) The remedies and rights provided for in this Act are not exclusive, but cumulative, and all other applicable claims are specifically preserved.
(Source: P.A. 95-691, eff. 6-1-08.)


 
    (205 ILCS 635/Art. V heading)
ARTICLE V
LENDING PROCEDURES

    
Notes of Decisions
Cited in 5 cases (1 in the last 5 years), 2014–2025 · leading case: First Mortgage Co. v. Dina
Sort: Relevance Newest Treatment
First Mortgage Co. v. Dina (2014) illappct “¶ 23 While the License Act also provides a private right of action for violations of lending procedures (205 ILCS 635/4-16 (West 2010)), the License Act is distinguished by the strong public-policy statement in section 1-2(b).”
First Mortgage Co. v. Dina (2014) illappct “¶ 23 While the License Act also provides a private right of action for violations of lending procedures (205 ILCS 635/4-16 (West 2010)), the License Act is distinguished by the strong public-policy statement in section 1-2(b).”
First Mortgage Co., LLC v. Dina (2014) illappct “¶ 23 While the License Act also provides a private right of action for violations of lending procedures (205 ILCS 635/4-16 (West 2006)), the License Act is distinguished by the strong public-policy statement in section 1-2(b).”
Abdou v. Citadel Servicing Corporation (2025) ilnd “”); 205 ILCS 635/4-16 (“A borrower injured by a violation of the standards, duties, prohibitions, or requirements of .”
First Mortgage Co., LLC v. Dina (2014) illappct “¶ 23 While the License Act also provides a private right of action for violations of lending procedures (205 ILCS 635/4-16 (West 2010)), the License Act is distinguished by the strong public-policy statement in section 1-2(b).”
Annotations are extracted automatically from the opinions in the Syfert caselaw corpus and ranked by authority, recency, and treatment. Dots show Syfertize treatment of the citing case itself.