Illinois General Assembly - Bill Status for HB5957
Illinois General Assembly
  Home     Legislation & Laws     Senate     House     My Legislation     Site Map    

Previous General Assemblies

 Bill Status of HB5957  99th General Assembly

Short Description:  BANKING-VARIOUS

House Sponsors
Rep. C.D. Davidsmeyer

Last Action
DateChamber Action
  1/10/2017HouseSession Sine Die

Statutes Amended In Order of Appearance
205 ILCS 5/21.1
205 ILCS 5/21.4
205 ILCS 5/48
205 ILCS 205/1006from Ch. 17, par. 7301-6
205 ILCS 205/1006.05
205 ILCS 205/9002.1
205 ILCS 205/9002.5
205 ILCS 205/9004from Ch. 17, par. 7309-4
205 ILCS 205/9009from Ch. 17, par. 7309-9
205 ILCS 205/9013from Ch. 17, par. 7309-13
205 ILCS 205/9018from Ch. 17, par. 7309-18
205 ILCS 205/9018.1 rep.
205 ILCS 205/9018.2 rep.
205 ILCS 205/9018.3 rep.
205 ILCS 205/9018.4 rep.
205 ILCS 616/30
205 ILCS 620/1-7from Ch. 17, par. 1551-7
205 ILCS 650/2from Ch. 17, par. 2852
205 ILCS 690/20 rep.
815 ILCS 137/115 rep.


Synopsis As Introduced
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.

 Fiscal Note (Financial & Professional Regulation)
 Illinois Department of Financial and Professional Regulation (IDFPR) anticipates HB5957 to result in approximately $250,000 less in average annual revenue collected in variable quarterly fees and exam fees charged to Savings Banks. This $250,000 annual loss in quarterly and exam fee revenue would then be offset by the contingent fee charged by IDFPR in the subsequent fiscal year. Due to the offsetting nature of the contingent fee/credit back charge, net fiscal impact to IDFPR will be minimal and IDFPR would only be affected by the timing of cash flows which would provide more consistent quarterly fees to Savings Banks.

Actions 
DateChamber Action
  2/11/2016HouseFiled with the Clerk by Rep. C.D. Davidsmeyer
  2/11/2016HouseFirst Reading
  2/11/2016HouseReferred to Rules Committee
  4/4/2016HouseAssigned to Financial Institutions Committee
  4/4/2016HouseHouse Committee Amendment No. 1 Filed with Clerk by Rep. C.D. Davidsmeyer
  4/4/2016HouseHouse Committee Amendment No. 1 Referred to Rules Committee
  4/8/2016HouseCommittee Deadline Extended-Rule 9(b) April 22, 2016
  4/13/2016HouseFiscal Note Filed
  4/22/2016HouseRule 19(a) / Re-referred to Rules Committee
  1/10/2017HouseSession Sine Die

Back To Top

Home | Legislation & Laws | House | Senate | My Legislation | Disclaimers | Email

  Legislative Information System logo This site is maintained for the Illinois General Assembly by the
Legislative Information System, 705 Stratton Building, Springfield, Illinois 62706
Contact ILGA Webmaster