Illinois General Assembly - Bill Status for HB5428
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 Bill Status of HB5428  103rd General Assembly

Short Description:  BANKING-VARIOUS

House Sponsors
Rep. Dagmara Avelar

Last Action
DateChamber Action
  4/24/2024HousePlaced on Calendar 2nd Reading - Short Debate

Statutes Amended In Order of Appearance
205 ILCS 5/2from Ch. 17, par. 302
205 ILCS 5/5from Ch. 17, par. 311
205 ILCS 5/13from Ch. 17, par. 320
205 ILCS 5/14from Ch. 17, par. 321
205 ILCS 5/15from Ch. 17, par. 322
205 ILCS 5/16from Ch. 17, par. 323
205 ILCS 5/16.5
205 ILCS 5/20from Ch. 17, par. 327
205 ILCS 5/32.1from Ch. 17, par. 340
205 ILCS 5/40from Ch. 17, par. 350
205 ILCS 5/48
205 ILCS 5/48.1from Ch. 17, par. 360
205 ILCS 5/48.2from Ch. 17, par. 360.1
205 ILCS 5/49from Ch. 17, par. 361
205 ILCS 5/78from Ch. 17, par. 390
205 ILCS 5/80from Ch. 17, par. 392
205 ILCS 205/1008from Ch. 17, par. 7301-8
205 ILCS 205/4002from Ch. 17, par. 7304-2
205 ILCS 205/4003from Ch. 17, par. 7304-3
205 ILCS 205/4013from Ch. 17, par. 7304-13
205 ILCS 205/6002from Ch. 17, par. 7306-2
205 ILCS 205/7005from Ch. 17, par. 7307-5
205 ILCS 205/8002from Ch. 17, par. 7308-2
205 ILCS 205/8016from Ch. 17, par. 7308-16
205 ILCS 205/11008from Ch. 17, par. 7311-8
205 ILCS 205/1007.100 rep.
205 ILCS 205/11011 rep.


Synopsis As Introduced
Amends the Illinois Banking Act. Makes changes to the membership of the State Banking Board of Illinois. Provides that a bank may borrow or incur an obligation and pledge assets to secure deposits. Provides that a bank may provide data processing services to a person for profit. Provides that a bank may invest in financial futures or options transactions. Provides that the board of directors of a bank may provide by resolution that stockholders may attend, participate in, act in, and vote at any annual meeting or special meeting through the use of a conference telephone or interactive technology if specified conditions are satisfied. Provides that a person who makes, or causes to be made, a false statement or false entry with intent to deceive any person or persons authorized to examine into the affairs of the bank or the subsidiary or holding company of that bank, the branch of an out-of-state bank with intent to deceive the Commissioner of Banks and Real Estate or his administrative officers in the performance of their duties under the Act shall be subject to civil penalties imposed by the Commissioner (rather than be guilty of a Class 3 felony). Provides that the Board may authorize the transfer of funds from the Bank and Trust Company Fund. Amends the Savings Bank Act. Provides that the board of directors of a savings bank may provide by resolution that members or stockholders may attend, participate in, act in, and vote at any annual meeting or special meeting through the use of a conference telephone or interactive technology if specified conditions are satisfied. Provides that a savings bank may loan funds through the purchase of fixed rate annuity contracts. Provides that a savings bank may accept deposits made by a minor and may open an account in the name of such minor and the rules and regulations of such savings bank with respect to each such deposit and account shall be as binding upon such minor as if such minor were of full age and legal capacity. Makes changes to various provisions concerning notice to allow for electronic notice. Makes other changes. Effective immediately.

Actions 
DateChamber Action
  2/9/2024HouseFiled with the Clerk by Rep. Dagmara Avelar
  2/9/2024HouseFirst Reading
  2/9/2024HouseReferred to Rules Committee
  2/28/2024HouseAssigned to Financial Institutions and Licensing Committee
  4/2/2024HouseDo Pass / Short Debate Financial Institutions and Licensing Committee; 007-001-003
  4/3/2024HousePlaced on Calendar 2nd Reading - Short Debate
  4/17/2024HouseHouse Floor Amendment No. 1 Filed with Clerk by Rep. Dagmara Avelar
  4/17/2024HouseHouse Floor Amendment No. 1 Referred to Rules Committee
  4/17/2024HouseSecond Reading - Short Debate
  4/17/2024HouseHeld on Calendar Order of Second Reading - Short Debate
  4/18/2024HouseHouse Floor Amendment No. 1 Rules Refers to Financial Institutions and Licensing Committee
  4/18/2024HouseHouse Floor Amendment No. 1 Recommends Be Adopted Financial Institutions and Licensing Committee; 012-000-000
  4/19/2024HouseHouse Floor Amendment No. 2 Filed with Clerk by Rep. Dagmara Avelar
  4/19/2024HouseHouse Floor Amendment No. 2 Referred to Rules Committee
  4/19/2024HouseHouse Floor Amendment No. 2 Recommends Be Adopted Rules Committee; 005-000-000
  4/19/2024HouseRule 19(a) / Re-referred to Rules Committee
  4/19/2024HouseHouse Floor Amendment No. 1 Rule 19(c) / Re-referred to Rules Committee
  4/19/2024HouseHouse Floor Amendment No. 2 Rule 19(c) / Re-referred to Rules Committee
  4/24/2024HouseApproved for Consideration Rules Committee; 005-000-000
  4/24/2024HousePlaced on Calendar 2nd Reading - Short Debate
  4/24/2024HouseHouse Floor Amendment No. 1 Recommends Be Adopted Rules Committee; 005-000-000
  4/24/2024HouseHouse Floor Amendment No. 2 Recommends Be Adopted Rules Committee; 005-000-000
  4/24/2024HouseThird Reading Deadline Extended-Rule May 24, 2024

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