Illinois General Assembly - Bill Status for SB2318

Synopsis As Introduced
Amends the Illinois Banking Act. In provisions concerning the penalty for misleading practices and names, changes the civil penalty that may be imposed to the maximum amount otherwise permitted under specified provisions, $100,000 for each violation (rather than $10,000 for each violation). Provides that the remedies provided in those provisions are in addition to, not to the exclusion of, any other remedies available under the law. Defines terms. Makes other changes.

Senate Committee Amendment No. 1
Provides that an existing bank (instead of a State bank) may report an alleged violation to the Commissioner of Banks and Real Estate in provisions concerning soliciting business. Provides that "bank" means a State bank or an entity whose deposits are insured, to the applicable limit, by the Federal Deposit Insurance Corporation or any successors thereto (instead of a State bank or an entity of which a substantial portion of its operations is the business of accepting deposits and which such deposits are insured, to the applicable limit, by the Federal Deposit Insurance Corporation or any successors thereto). Makes other changes in provisions concerning defined terms. Makes a grammatical correction.

Actions

Date	Chamber	Action
2/7/2025	Senate	Filed with Secretary by Sen. Laura Ellman
2/7/2025	Senate	First Reading
2/7/2025	Senate	Referred to Assignments
3/4/2025	Senate	Assigned to Financial Institutions
3/4/2025	Senate	Senate Committee Amendment No. 1 Filed with Secretary by Sen. Laura Ellman
3/4/2025	Senate	Senate Committee Amendment No. 1 Referred to Assignments
3/5/2025	Senate	Added as Co-Sponsor Sen. Mark L. Walker
3/12/2025	Senate	Senate Committee Amendment No. 1 Assignments Refers to Financial Institutions
3/19/2025	Senate	Senate Committee Amendment No. 1 Adopted
3/19/2025	Senate	Do Pass as Amended Financial Institutions; 008-000-000
3/19/2025	Senate	Placed on Calendar Order of 2nd Reading March 20, 2025
3/20/2025	Senate	Second Reading
3/20/2025	Senate	Placed on Calendar Order of 3rd Reading April 1, 2025

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