IL SB3971 | 2021-2022 | 102nd General Assembly
Status
Completed Legislative Action
Spectrum: Partisan Bill (Democrat 5-0)
Status: Passed on May 13 2022 - 100% progression
Action: 2022-05-13 - Public Act . . . . . . . . . 102-0873
Text: Latest bill text (Chaptered) [HTML]
Spectrum: Partisan Bill (Democrat 5-0)
Status: Passed on May 13 2022 - 100% progression
Action: 2022-05-13 - Public Act . . . . . . . . . 102-0873
Text: Latest bill text (Chaptered) [HTML]
Summary
Amends the Illinois Banking Act. In provisions concerning customer financial records and confidentiality, provides that a bank shall disclose financial records only after the bank sends a copy of the subpoena, summons, warrant, citation, or court order to the person establishing the relationship with the bank at the person's last known address through a third-party commercial carrier or courier with delivery charge fully prepaid, by hand delivery, or by electronic delivery at an email address on file with the bank. In provisions concerning retention of records, provides that each bank shall retain its records in a manner consistent with prudent business practices and applicable State or federal laws, rules, and regulations. Provides that except where a retention period is required by State or federal laws, rules, or regulations, a bank may destroy its records. Removes provisions concerning retention of records. Makes the same changes in the Savings Bank Act. Makes other changes. Effective immediately.
Title
FIN-BANKING/RECORDS RETENTION
Sponsors
Sen. Laura Murphy [D] | Sen. Mattie Hunter [D] | Sen. Kimberly Lightford [D] | Rep. LaShawn Ford [D] |
Rep. Barbara Hernandez [D] |
Roll Calls
2022-04-01 - House - Third Reading in House (Y: 108 N: 0 NV: 1 Abs: 3) [PASS]
2022-02-24 - Senate - Third Reading in Senate (Y: 55 N: 0 NV: 3 Abs: 0) [PASS]
2022-02-24 - Senate - Third Reading in Senate (Y: 55 N: 0 NV: 3 Abs: 0) [PASS]
History
Date | Chamber | Action |
---|---|---|
2022-05-13 | Senate | Public Act . . . . . . . . . 102-0873 |
2022-05-13 | Senate | Effective Date May 13, 2022 |
2022-05-13 | Senate | Governor Approved |
2022-04-29 | Senate | Sent to the Governor |
2022-04-01 | House | Added Alternate Co-Sponsor Rep. Barbara Hernandez |
2022-04-01 | Senate | Passed Both Houses |
2022-04-01 | House | Third Reading - Short Debate - Passed 108-000-000 |
2022-03-23 | House | Placed on Calendar Order of 3rd Reading - Short Debate |
2022-03-23 | House | Second Reading - Short Debate |
2022-03-16 | House | Placed on Calendar 2nd Reading - Short Debate |
2022-03-15 | House | Do Pass / Short Debate Financial Institutions Committee; 011-000-000 |
2022-03-07 | House | Assigned to Financial Institutions Committee |
2022-02-25 | House | Referred to Rules Committee |
2022-02-25 | House | First Reading |
2022-02-25 | House | Chief House Sponsor Rep. La Shawn K. Ford |
2022-02-25 | House | Arrived in House |
2022-02-24 | Senate | Added as Co-Sponsor Sen. Kimberly A. Lightford |
2022-02-24 | Senate | Third Reading - Passed; 055-000-000 |
2022-02-24 | Senate | Placed on Calendar Order of 3rd Reading |
2022-02-24 | Senate | Senate Floor Amendment No. 1 Adopted; Murphy |
2022-02-24 | Senate | Recalled to Second Reading |
2022-02-24 | Senate | Added as Co-Sponsor Sen. Mattie Hunter |
2022-02-23 | Senate | Senate Floor Amendment No. 1 Recommend Do Adopt Financial Institutions; 007-000-000 |
2022-02-22 | Senate | Placed on Calendar Order of 3rd Reading February 23, 2022 |
2022-02-22 | Senate | Second Reading |
2022-02-22 | Senate | Senate Floor Amendment No. 1 Assignments Refers to Financial Institutions |
2022-02-18 | Senate | Senate Floor Amendment No. 1 Referred to Assignments |
2022-02-18 | Senate | Senate Floor Amendment No. 1 Filed with Secretary by Sen. Laura M. Murphy |
2022-02-10 | Senate | Placed on Calendar Order of 2nd Reading February 15, 2022 |
2022-02-10 | Senate | Do Pass Financial Institutions; 007-000-000 |
2022-02-01 | Senate | Assigned to Financial Institutions |
2022-01-21 | Senate | Referred to Assignments |
2022-01-21 | Senate | First Reading |
2022-01-21 | Senate | Filed with Secretary by Sen. Laura M. Murphy |
Code Citations
Chapter | Article | Section | Citation Type | Statute Text |
---|---|---|---|---|
205 | 205 | 4013 | Amended Code | Citation Text |
205 | 205 | 9011 | Amended Code | Citation Text |
205 | 5 | 48.1 | Amended Code | Citation Text |
205 | 5 | 48.6 | Amended Code | Citation Text |