Illinois General Assembly - Full Text of HB0823
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Full Text of HB0823  100th General Assembly




HB0823 EnrolledLRB100 06976 SMS 17027 b

1    AN ACT concerning regulation.
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
4    Section 5. The Division of Banking Act is amended by adding
5Section 6.2 as follows:
6    (20 ILCS 3205/6.2 new)
7    Sec. 6.2. Community reinvestment. The Division shall
8review the federal Community Reinvestment Act performance
9evaluations conducted by the primary federal regulator of any
10financial institution regulated by the Division to monitor the
11efforts State chartered banks are making to meet the credit
12needs of the communities in which they serve, including
13low-income and moderate-income neighborhoods, consistent with
14safe and sound banking practices.
15    The Department may electronically publish an annual report
16to provide the federal Community Reinvestment Act performance
17evaluations of State chartered banks.