Top Legislation - View All
Latest Action: 03/16/2007 - Rule 3-9(a) / Re-referred to Rules Bill Text
CREDIT UNIONS-DISCLOSURES
Amends the Illinois Credit Union Act. Provides that a credit union may not disclose to any person, except to the member or his or her duly authorized agent, any financial records relating to that member of the credit union unless the financial records are disclosed in response to a lawful subpoena, summons, warrant, citation to discover assets, or court order that meets certain requirements (now, a disclosure is only permissible in response to a lawful subpoena, summons, warrant, or court order). Makes corresponding changes in provisions concerning disclosure procedures and reimbursement of costs associated with compliance.
Latest Action: 08/27/2007 - Governor Approved Bill TextCOLLECTN AGENCY-COMMUNICATIONS Amends the Collection Agency Act. Makes changes in provisions concerning definitions and entities acting as a collection agency. Sets forth requirements for debt collectors or collection agencies regarding communication with persons other than the debtor, communication conducted in connection with debt collection, validation of debts, and debt collection as a result of identity theft. Amends the Consumer Fraud and Deceptive Business Practices Act to provide that a violation of certain Sections of the Collection Agency Act constitutes an unlawful practice under the Act. Effective January 1, 2008. Senate Committee Amendment No. 1 Deletes reference to: 815 ILCS 505/2Z show full description
Also tagged in: Banking, Business, Contract, Courts, Exemptions, Fee, Grants, Housing, Judges, Mortgage, Savings And Loan, Tax
Latest Action: 12/03/2007 - Pursuant to Senate Rule 3-9(b) / Referred to Rules Bill TextFINAN REG-LOAN ORIGINATORS-CE Amends the Residential Mortgage License Act of 1987. Provides that the Department of Financial and Professional Regulation shall adopt rules as to the required yearly continuing education of loan originators. Provides that the Secretary of Financial and Professional Regulation shall approve all continuing education courses and the providers of continuing education courses. Provides that all continuing education courses and the providers of continuing education courses shall be subject to a review by a panel appointed by the Secretary. Specifies the number of members on the review panel. Provides that the Secretary shall consider the recommendations of the review panel prior to approving or disapproving continuing education courses or the providers of continuing education courses. House Amendment No. 1 Specifies that the Department of Financial and Professional Regulation shall adopt rules as to the required yearly continuing education [...] show full description
Latest Action: 08/13/2007 - Governor Approved Bill TextBANKING-REGULATIONS Amends the Illinois Banking Act. Provides that a state bank and its subsidiaries in compliance with Regulation W promulgated by the Board of Governors of the Federal Reserve shall be deemed to be in compliance with certain provisions of the Act concerning limitations on investments in and loans to affiliates. Amends the Banking Emergencies Act. Provides that, whenever the Commissioner becomes aware that an emergency exists, or is impending, he or she may, by proclamation, authorize any bank organized under the laws of another state, or of the United States, to open and operate offices in the State and to remain open until the Commissioner declares, by further proclamation, that the emergency or impending emergency has ended. Amends the Financial Institutions Electronic Documents and Digital Signature Act. For purposes of the Act, defines "financial institution" to include subsidiaries and affiliates of banks, savings and loan associations, savings banks, and [...] show full description
Latest Action: 04/27/2007 - Rule 19(a) / Re-referred to Rules Committee Bill Text
REGULATION-TECH
Amends the Illinois Credit Union Act. Makes a technical change in a Section concerning the fiscal year of credit unions.
Latest Action: 07/01/2008 - Rule 19(b) / Re-referred to Rules Committee Bill TextCREDIT UNION ACT-MARKETING Amends the Illinois Credit Union Act. Provides that under specified circumstances, a credit union may determine its historical loss rate using a defined period of time of less than 5 years in determining the appropriate balance in the allowance for loan losses account. Allows a credit union to sell to persons within its field of membership negotiable checks, to sell checks and money orders, and to receive international and domestic electronic fund transfers for such persons for a fee. Allows credit unions to make first mortgage real estate loans for more than the estimated market value or appraised value of the real estate securing the loans where secured in full or in part by the insurance or guarantee of the federal government, a state government, or any political subdivision of either. Adds provisions concerning credit contracts. Effective immediately. House Amendment No. 1 Deletes [...] show full description
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Latest Legislation - View All
Latest Action: 07/01/2008 - Rule 19(b) / Re-referred to Rules Committee Bill TextCREDIT UNION ACT-MARKETING Amends the Illinois Credit Union Act. Provides that under specified circumstances, a credit union may determine its historical loss rate using a defined period of time of less than 5 years in determining the appropriate balance in the allowance for loan losses account. Allows a credit union to sell to persons within its field of membership negotiable checks, to sell checks and money orders, and to receive international and domestic electronic fund transfers for such persons for a fee. Allows credit unions to make first mortgage real estate loans for more than the estimated market value or appraised value of the real estate securing the loans where secured in full or in part by the insurance or guarantee of the federal government, a state government, or any political subdivision of either. Adds provisions concerning credit contracts. Effective immediately. House Amendment No. 1 Deletes [...] show full description
Latest Action: 04/27/2007 - Rule 19(a) / Re-referred to Rules Committee Bill Text
REGULATION-TECH
Amends the Illinois Credit Union Act. Makes a technical change in a Section concerning the fiscal year of credit unions.
Latest Action: 08/27/2007 - Governor Approved Bill TextCOLLECTN AGENCY-COMMUNICATIONS Amends the Collection Agency Act. Makes changes in provisions concerning definitions and entities acting as a collection agency. Sets forth requirements for debt collectors or collection agencies regarding communication with persons other than the debtor, communication conducted in connection with debt collection, validation of debts, and debt collection as a result of identity theft. Amends the Consumer Fraud and Deceptive Business Practices Act to provide that a violation of certain Sections of the Collection Agency Act constitutes an unlawful practice under the Act. Effective January 1, 2008. Senate Committee Amendment No. 1 Deletes reference to: 815 ILCS 505/2Z show full description
Also tagged in: Banking, Business, Contract, Courts, Exemptions, Fee, Grants, Housing, Judges, Mortgage, Savings And Loan, Tax
Latest Action: 12/03/2007 - Pursuant to Senate Rule 3-9(b) / Referred to Rules Bill TextFINAN REG-LOAN ORIGINATORS-CE Amends the Residential Mortgage License Act of 1987. Provides that the Department of Financial and Professional Regulation shall adopt rules as to the required yearly continuing education of loan originators. Provides that the Secretary of Financial and Professional Regulation shall approve all continuing education courses and the providers of continuing education courses. Provides that all continuing education courses and the providers of continuing education courses shall be subject to a review by a panel appointed by the Secretary. Specifies the number of members on the review panel. Provides that the Secretary shall consider the recommendations of the review panel prior to approving or disapproving continuing education courses or the providers of continuing education courses. House Amendment No. 1 Specifies that the Department of Financial and Professional Regulation shall adopt rules as to the required yearly continuing education [...] show full description
Latest Action: 03/16/2007 - Rule 3-9(a) / Re-referred to Rules Bill Text
CREDIT UNIONS-DISCLOSURES
Amends the Illinois Credit Union Act. Provides that a credit union may not disclose to any person, except to the member or his or her duly authorized agent, any financial records relating to that member of the credit union unless the financial records are disclosed in response to a lawful subpoena, summons, warrant, citation to discover assets, or court order that meets certain requirements (now, a disclosure is only permissible in response to a lawful subpoena, summons, warrant, or court order). Makes corresponding changes in provisions concerning disclosure procedures and reimbursement of costs associated with compliance.
Latest Action: 08/13/2007 - Governor Approved Bill TextBANKING-REGULATIONS Amends the Illinois Banking Act. Provides that a state bank and its subsidiaries in compliance with Regulation W promulgated by the Board of Governors of the Federal Reserve shall be deemed to be in compliance with certain provisions of the Act concerning limitations on investments in and loans to affiliates. Amends the Banking Emergencies Act. Provides that, whenever the Commissioner becomes aware that an emergency exists, or is impending, he or she may, by proclamation, authorize any bank organized under the laws of another state, or of the United States, to open and operate offices in the State and to remain open until the Commissioner declares, by further proclamation, that the emergency or impending emergency has ended. Amends the Financial Institutions Electronic Documents and Digital Signature Act. For purposes of the Act, defines "financial institution" to include subsidiaries and affiliates of banks, savings and loan associations, savings banks, and [...] show full description
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