Bill Text: IL HB1783 | 2017-2018 | 100th General Assembly | Enrolled


Bill Title: Amends the Electronic Fund Transfer Act. Requires that a person who establishes or owns specified cash-dispensing terminals must post a telephone number on the terminal for consumers to call to report problems, along with the telephone number of the Department of Financial and Professional Regulation (rather than file notices of establishment or ownership with the Secretary of Financial and Professional Regulation). Repeals the Check Printer and Check Number Act and makes a conforming change in the Division of Banking Act. Effective immediately.

Spectrum: Bipartisan Bill

Status: (Enrolled) 2017-05-31 - Passed Both Houses [HB1783 Detail]

Download: Illinois-2017-HB1783-Enrolled.html



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1 AN ACT concerning regulation.
2 Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
4 Section 5. The Division of Banking Act is amended by
5changing Section 6 as follows:
6 (20 ILCS 3205/6) (from Ch. 17, par. 456)
7 Sec. 6. Duties. The Commissioner shall direct and supervise
8all the administrative and technical activities of the Office
9and shall:
10 (a) Apply and carry out this Act and the law and all rules
11adopted in pursuance thereof.
12 (b) Appoint, subject to the provisions of the Personnel
13Code, such employees, experts, and special assistants as may be
14necessary to carry out effectively the provisions of this Act
15and, if the rate of compensation is not otherwise fixed by law,
16fix their compensation; but neither the Commissioner nor any
17deputy commissioner shall be subject to the Personnel Code.
18 (c) Serve as Chairman of the State Banking Board of
19Illinois.
20 (d) Serve as Chairman of the Board of Trustees of the
21Illinois Bank Examiners' Education Foundation.
22 (e) Issue guidelines in the form of rules or regulations
23which will prohibit discrimination by any State chartered bank

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1against any individual, corporation, partnership, association
2or other entity because it appears in a so-called blacklist
3issued by any domestic or foreign corporate or governmental
4entity.
5 (f) Make an annual report to the Governor regarding the
6work of the Office as the Commissioner may consider desirable
7or as the Governor may request.
8 (g) Perform such other acts as may be requested by the
9State Banking Board of Illinois pursuant to its lawful powers
10and perform any other lawful act that the Commissioner
11considers to be necessary or desirable to carry out the
12purposes and provisions of this Act.
13 (h) Adopt, in accordance with the Illinois Administrative
14Procedure Act, reasonable rules that the Commissioner deems
15necessary for the proper administration and enforcement of any
16Act the administration of which is vested in the Commissioner
17or the Office of Banks and Real Estate.
18 (i) Work in cooperation with the Director of Aging to
19encourage all financial institutions regulated by the Office to
20participate fully in the Department on Aging's financial
21exploitation of the elderly intervention program.
22 (j) Deposit all funds received, including civil penalties,
23pursuant to the Illinois Banking Act, the Corporate Fiduciary
24Act, and the Illinois Bank Holding Company Act of 1957, and the
25Check Printer and Check Number Act in the Bank and Trust
26Company Fund.

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1(Source: P.A. 97-492, eff. 1-1-12.)
2 Section 10. The Electronic Fund Transfer Act is amended by
3changing Section 30 as follows:
4 (205 ILCS 616/30)
5 Sec. 30. Acceptance of deposits.
6 (A) No terminal that accepts deposits of funds to an
7account may be established or owned in this State except by (a)
8a bank established under the laws of this or any other state or
9established under the laws of the United States that (1) is
10authorized by law to establish a branch in this State or (2) is
11permitted by rule of the Commissioner to establish
12deposit-taking terminals in this State in order to maintain
13parity between national banks and banks established under the
14laws of this or any other state, (b) a savings and loan
15association or savings bank established under the laws of this
16or any other state or established under the laws of the United
17States, (c) a credit union established under the laws of this
18or any other state or established under the laws of the United
19States, or (d) a licensee under the Consumer Installment Loan
20Act or the Sales Finance Agency Act.
21 (B) A person other than a financial institution or an
22affiliate of a financial institution may establish or own, in
23whole or in part, a cash-dispensing terminal at which an
24interchange transaction may be performed, provided that the

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1terminal does not accept deposits of funds to an account, and
2provided that the person establishing or owning the terminal
3must post a telephone number on the terminal for consumers to
4call to report problems, along with the Department's telephone
5number. shall file a notice of establishment or ownership of a
6terminal with the Commissioner, in the form prescribed by the
7Commissioner, within 60 days after the later of (a) the
8effective day of this amendatory Act of 1997 or (b) the
9establishment of or acquisition of an ownership interest in the
10terminal. Persons who own a terminal pursuant to this
11subsection (B) shall thereafter file with the Commissioner a
12full and accurate statement of information of ownership, in the
13form prescribed by the Commissioner, once per calendar year. A
14person who has established or owns a terminal pursuant to this
15subsection (B) shall not be required to file subsequent notices
16of establishment or ownership of a terminal when establishing
17or acquiring an ownership interest in additional terminals
18provided the person includes the information required by the
19Commissioner for those terminals in the person's annual filing
20pursuant to this subsection (B). The Commissioner or examiners
21appointed by the Commissioner shall have the authority to
22examine any person that has established or owns a terminal in
23this State pursuant to this subsection (B) if the Commissioner
24has received multiple complaints regarding one or more
25terminals owned by the person, and in the event of such an
26examination, the person shall pay the reasonable costs and

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1expenses of the examination as determined by the Commissioner.
2The Commissioner may impose civil penalties of up to $1,000
3against any person subject to this subsection (B) for the first
4failure to comply with this Act and up to $10,000 for the
5second and each subsequent failure to comply with this Act. All
6moneys received by the Commissioner under this subsection (B)
7shall be paid into, and all expenses incurred by the
8Commissioner under this subsection (B) shall be paid from, the
9Bank and Trust Company Fund.
10 (C) A network operating in this State shall maintain a
11directory of the locations of cash-dispensing terminals at
12which an interchange transaction may be performed that are
13established or owned in this State by its members and shall
14file the directory with the Commissioner within 60 days after
15the effective date of this amendatory Act of 1997 and
16thereafter once per calendar year.
17(Source: P.A. 89-310, eff. 1-1-96; 90-189, eff. 1-1-98.)
18 (205 ILCS 690/Act rep.)
19 Section 15. The Check Printer and Check Number Act is
20repealed.
21 Section 99. Effective date. This Act takes effect upon
22becoming law.
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