Illinois House Bill 4897 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on February 13 2020 - 25% progression, died in committee
Action: 2020-06-23 - Rule 19(b) / Re-referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]

Amends the Illinois Banking Act. Provides that, unless the bank has actual knowledge of the falsity of an allegation or assertion received by the bank relating to financial exploitation of an elderly or disabled customer, the bank is entitled to rely in good faith on such an allegation or assertion when formulating a suspicion that there might be a reportable case of financial exploitation. Defines "suspicion by the bank". Provides that, if a subpoena, summons, warrant, or other request for a customer's records is presented to the bank by an agency or department of the federal government, or by an officer, agent, or employee of such federal agency or department, a bank is not required to release records until the bank has been furnished with a written certification that the requesting agency or department has satisfied its obligations under the federal Right to Financial Privacy Act of 1978. Provides that, unless a federal law requires otherwise, the Secretary of Financial and Professional Regulation shall (rather than may) by rule prescribe periods of time for which banks operating under this Act must retain records and after the expiration of which, the bank may destroy those records. Includes within the powers of the State Banking Board of Illinois the power to review and examine bank call report fee revenue and the disbursement of the fees. Makes other changes. Amends the Promissory Note and Bank Holiday Act. Provides that, if the bank is going to be closed for no more than a half day to permit personnel to attend a funeral, visitation, or other memorial service held for a deceased officer, employee, or director of the bank, or a family member of such person, the bank need only notify the Secretary and post conspicuously in the lobby of any affected office or branch of the bank notice of the hours during which the bank will be closed. Requires the notification to the Secretary and posting of notice in the lobby of the office or branch to be accomplished not less than 24 hours in advance of the day during which such closing will occur.

BANKING-VARIOUS

Rep. Camille Lilly [D]

Date	Chamber	Action
2020-06-23	House	Rule 19(b) / Re-referred to Rules Committee
2020-03-12	House	House Committee Amendment No. 1 Referred to Rules Committee
2020-03-12	House	House Committee Amendment No. 1 Filed with Clerk by Rep. Camille Y. Lilly
2020-03-12	House	Assigned to Financial Institutions Committee
2020-02-18	House	Referred to Rules Committee
2020-02-18	House	First Reading
2020-02-13	House	Filed with the Clerk by Rep. Camille Y. Lilly

Chapter	Article	Section	Citation Type	Statute Text
205	5	48.1	Amended Code	Citation Text
205	5	48.6	Amended Code	Citation Text
205	5	80	Amended Code	Citation Text
205	630	17	Amended Code	Citation Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=4897&GAID=15&DocTypeID=HB&SessionID=108&GA=101
Text	https://www.ilga.gov/legislation/101/HB/10100HB4897.htm
Amendment	https://www.ilga.gov/legislation/101/HB/10100HB4897ham001.htm