Illinois General Assembly - Bill Status for SB 2432

Amends the Illinois Banking Act. Replaces provisions regarding application for a certificate of authority for an out-of-state bank to merge with a State bank with language that provides that a State bank may merge with and into an out-of-state bank, provided the out-of-state bank causes notice to be filed with the Secretary of Financial and Professional Regulation not less than 60 days before the proposed effective date of the merger. Makes conforming changes. Amends the Savings Bank Act. Makes changes in provisions concerning parity, out-of-state savings banks establishing branches in this State, examinations, the Savings Bank Regulatory Fund, regulatory fees, orders of the Secretary, and administrative review. Repeals provisions of the Savings Bank Act concerning hearings, records of proceedings, and subpoenas and depositions. 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. Amends the Corporate Fiduciary Act. Makes changes concerning the office locations of corporate fiduciaries. Amends the Foreign Bank Representative Office Act. Makes changes concerning the definition of "foreign bank". Repeals provisions of the Check Printer and Check Number Act concerning registration of persons other than financial institutions who sell or distribute checks. Repeals provisions of the High Risk Home Loan Act regarding annual reports on default and foreclosure rates on conventional loans. Effective immediately.

In provisions amending the Savings Bank Act, provides that any savings bank or service corporation operating under the Act examined by the Department of Financial and Professional Regulation between January 1, 2016 and the effective date of the amendatory Act shall be subject to the specified regulatory fee schedule, provided that a regulatory fee shall not be paid to or due by the Department for the first billing of the regulatory fee immediately following the effective date of the amendatory Act. Provides that an affected institution shall pay the regulatory fee as prescribed in the specified regulatory fee schedule beginning with the second billing of the regulatory fee by the Department following the effective date of the amendatory Act. Removes the repeal of the High Risk Home Loan Act.

Date	Chamber	Action
1/10/2017	Senate	Session Sine Die

Date	Chamber	Action
2/9/2016	Senate	Filed with Secretary by Sen. Pamela J. Althoff
2/9/2016	Senate	First Reading
2/9/2016	Senate	Referred to Assignments
2/17/2016	Senate	Assigned to Financial Institutions
3/9/2016	Senate	Postponed - Financial Institutions
4/1/2016	Senate	Senate Committee Amendment No. 1 Filed with Secretary by Sen. Pamela J. Althoff
4/1/2016	Senate	Senate Committee Amendment No. 1 Referred to Assignments
4/5/2016	Senate	Senate Committee Amendment No. 1 Assignments Refers to Financial Institutions
4/8/2016	Senate	Rule 2-10 Committee Deadline Established As April 22, 2016
4/13/2016	Senate	Senate Committee Amendment No. 1 Adopted
4/13/2016	Senate	Do Pass as Amended Financial Institutions; 009-000-000
4/13/2016	Senate	Placed on Calendar Order of 2nd Reading April 14, 2016
4/18/2016	Senate	Second Reading
4/18/2016	Senate	Placed on Calendar Order of 3rd Reading April 19, 2016
4/21/2016	Senate	Third Reading - Passed; 057-000-000
4/21/2016	House	Arrived in House
4/21/2016	House	Chief House Sponsor Rep. C.D. Davidsmeyer
4/21/2016	House	First Reading
4/21/2016	House	Referred to Rules Committee
1/10/2017	Senate	Session Sine Die

	Deletes reference to:
	815 ILCS 137/115 rep.