ARA Statement on Illinois Data Privacy Law

The American Recovery Association (ARA) and its Board of Directors work diligently to stay informed of state legislative initiatives and understand their potential industry impact.

On July 28, 2023, the Illinois legislature enacted a data privacy law as amendment (225 ILCS 422/110) to the Illinois Collateral Recovery Act. While ARA was aware the Act was likely to pass, the Board was surprised to learn after the fact that ARA was named in section “f” of the bill. ARA is mindful of the approaching January 1, 2024, effective date for the Illinois legislation and is evaluating the Act’s requirements. ARA will respond to those requirements accordingly.

In light of industry questions and concerns about the Illinois legislation, ARA initially scheduled a webinar to discuss the Act and what it means for the recovery industry. To better understand the legislation, ARA contacted legislators, lawyers, and other professionals who could shed light on this topic. ARA reset the initial webinar as the fact gathering process continued.

In the meantime, ARA has learned the Alliance of Illinois Repossessors (AIR) is hosting a webinar on Monday, October 30th at 1:00 p.m. CDT/2:00 p.m. EDT, to provide insight and information about the Illinois legislation. Given AIR’s knowledge of the legislative process surrounding the Illinois Collateral Recovery Act, ARA is cancelling its October 25th webinar and encourages industry stakeholders to register for AIR’s upcoming webinar.

For more information, please visit the AIR website at https://air-repo.com/

About ARA

The American Recovery Association (ARA) is an organization of over 260 professional repossession agents, providing service from more than 500 locations to more than 27,000 national and international cities.