IL HB5428 | 2023-2024 | 103rd General Assembly

Status

Spectrum: Bipartisan Bill
Status: Engrossed on May 2 2024 - 50% progression
Action: 2024-06-26 - Pursuant to Senate Rule 3-9(b) / Referred to Assignments
Pending: Senate Assignments Committee
Text: Latest bill text (Engrossed) [HTML]

Summary

Amends the Illinois Banking Act. Provides that a bank may provide data processing services to a person for profit. Provides that a bank may invest in commodities derivatives, with the management and controls necessary to ensure that such activities are carried out according to safe and sound banking practices. Provides that the board of directors of a bank may provide by resolution that stockholders may attend, participate in, act in, and vote at any annual meeting or special meeting through the use of a conference telephone or interactive technology if specified conditions are satisfied. Provides that at the conclusion of each fiscal year, the Department of Financial and Professional Regulation shall separately identify the direct administrative and operational expenses and allocable indirect costs of the Division of Banking of the Department incidental to conducting the examinations required or authorized by the Illinois Community Reinvestment Act and implementing rules adopted by the Department. Makes other changes. Amends the Savings Bank Act. Provides that the board of directors of a savings bank may provide by resolution that members or stockholders may attend, participate in, act in, and vote at any annual meeting or special meeting through the use of a conference telephone or interactive technology if specified conditions are satisfied. Provides that a savings bank may loan funds through the purchase of fixed rate annuity contracts. Provides that a savings bank may accept deposits made by a minor and may open an account in the name of such minor and the rules and regulations of such savings bank with respect to each such deposit and account shall be as binding upon such minor as if such minor were of full age and legal capacity. Provides that without prior written consent of the Secretary of Financial and Professional Regulation, no savings bank may knowingly employ or otherwise permit an individual to serve as an officer, director, employee, or agent of the savings bank if the individual has been convicted of a felony or of any criminal offense relating to dishonesty or breach of trust. Amends the Illinois Credit Union Act. In provisions concerning the financial records of credit union members, adds language providing that the furnishing of financial records of a deceased customer to a public administrator of any county or other governmental jurisdiction for the purpose of facilitating burial of the customer are not prohibited by the provisions. Makes similar changes in similar provisions in the Illinois Banking Act and the Savings Bank Act. Makes changes to various provisions concerning notice to allow for electronic notice. Makes other changes. Effective immediately.

Tracking Information

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Title

BANKING-VARIOUS

Sponsors


Roll Calls

2024-05-02 - House - Third Reading in House (Y: 110 N: 0 NV: 2 Abs: 0) [PASS]

History

DateChamberAction
2024-06-26SenatePursuant to Senate Rule 3-9(b) / Referred to Assignments
2024-06-26SenateSenate Committee Amendment No. 1 Pursuant to Senate Rule 3-9(b) / Referred to Assignments
2024-05-25SenateRule 2-10 Committee/3rd Reading Deadline Established As May 26, 2024
2024-05-24SenateRule 2-10 Committee/3rd Reading Deadline Established As May 25, 2024
2024-05-21SenateSenate Committee Amendment No. 1 Assignments Refers to Financial Institutions
2024-05-20SenateRule 2-10 Committee/3rd Reading Deadline Established As May 24, 2024
2024-05-20SenateSenate Committee Amendment No. 1 Referred to Assignments
2024-05-20SenateSenate Committee Amendment No. 1 Filed with Secretary by Sen. Cristina Castro
2024-05-20SenateRe-assigned to Financial Institutions
2024-05-17SenateRule 3-9(a) / Re-referred to Assignments
2024-05-14SenateAlternate Chief Sponsor Changed to Sen. Cristina Castro
2024-05-10SenateRule 2-10 Committee Deadline Established As May 17, 2024
2024-05-07SenateAdded as Alternate Co-Sponsor Sen. Sue Rezin
2024-05-07SenateRule 2-10 Committee Deadline Established As May 10, 2024
2024-05-07SenateAssigned to Financial Institutions
2024-05-02SenateReferred to Assignments
2024-05-02SenateFirst Reading
2024-05-02SenateChief Senate Sponsor Sen. Mary Edly-Allen
2024-05-02SenatePlaced on Calendar Order of First Reading
2024-05-02SenateArrive in Senate
2024-05-02HouseAdded Co-Sponsor Rep. Adam M. Niemerg
2024-05-02HouseThird Reading - Short Debate - Passed 110-000-000
2024-05-02HousePlaced on Calendar Order of 3rd Reading - Short Debate
2024-05-02HouseHouse Floor Amendment No. 2 Adopted
2024-05-02HouseHouse Floor Amendment No. 1 Adopted
2024-04-24HouseThird Reading Deadline Extended-Rule May 24, 2024
2024-04-24HouseHouse Floor Amendment No. 2 Recommends Be Adopted Rules Committee; 005-000-000
2024-04-24HouseHouse Floor Amendment No. 1 Recommends Be Adopted Rules Committee; 005-000-000
2024-04-24HousePlaced on Calendar 2nd Reading - Short Debate
2024-04-24HouseApproved for Consideration Rules Committee; 005-000-000
2024-04-19HouseHouse Floor Amendment No. 2 Rule 19(c) / Re-referred to Rules Committee
2024-04-19HouseHouse Floor Amendment No. 1 Rule 19(c) / Re-referred to Rules Committee
2024-04-19HouseRule 19(a) / Re-referred to Rules Committee
2024-04-19HouseHouse Floor Amendment No. 2 Recommends Be Adopted Rules Committee; 005-000-000
2024-04-19HouseHouse Floor Amendment No. 2 Referred to Rules Committee
2024-04-19HouseHouse Floor Amendment No. 2 Filed with Clerk by Rep. Dagmara Avelar
2024-04-18HouseHouse Floor Amendment No. 1 Recommends Be Adopted Financial Institutions and Licensing Committee; 012-000-000
2024-04-18HouseHouse Floor Amendment No. 1 Rules Refers to Financial Institutions and Licensing Committee
2024-04-17HouseHeld on Calendar Order of Second Reading - Short Debate
2024-04-17HouseSecond Reading - Short Debate
2024-04-17HouseHouse Floor Amendment No. 1 Referred to Rules Committee
2024-04-17HouseHouse Floor Amendment No. 1 Filed with Clerk by Rep. Dagmara Avelar
2024-04-03HousePlaced on Calendar 2nd Reading - Short Debate
2024-04-02HouseDo Pass / Short Debate Financial Institutions and Licensing Committee; 007-001-003
2024-02-28HouseAssigned to Financial Institutions and Licensing Committee
2024-02-09HouseReferred to Rules Committee
2024-02-09HouseFirst Reading
2024-02-09HouseFiled with the Clerk by Rep. Dagmara Avelar

Code Citations

ChapterArticleSectionCitation TypeStatute Text
2052051007.100Repealed CodeCitation Text
2052051008Amended CodeCitation Text
20520511008Amended CodeCitation Text
20520511011Repealed CodeCitation Text
2052054002Amended CodeCitation Text
2052054003Amended CodeCitation Text
2052054013Amended CodeCitation Text
2052056002Amended CodeCitation Text
2052057005Amended CodeCitation Text
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2052058016Amended CodeCitation Text
205513Amended CodeCitation Text
205514Amended CodeCitation Text
205515Amended CodeCitation Text
205516Amended CodeCitation Text
205516.5Amended CodeCitation Text
20552Amended CodeCitation Text
205520Amended CodeCitation Text
205532.1Amended CodeCitation Text
205540Amended CodeCitation Text
205548Amended CodeCitation Text
205548.1Amended CodeCitation Text
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20555Amended CodeCitation Text
205578Amended CodeCitation Text
205580Amended CodeCitation Text

Illinois State Sources


Bill Comments

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