(205 ILCS 735/35-15)
    Sec. 35-15. Examinations.
    (a) The Secretary shall have the authority to examine each covered financial institution for compliance with this Act, in consultation with State and federal regulators with an appropriate regulatory interest, for and in compliance with applicable State and federal fair lending laws, including, but not limited to, the Illinois Human Rights Act, the federal Equal Credit Opportunity Act, and the federal Home Mortgage Disclosure Act, as often as the Secretary deems necessary and proper. The Secretary may adopt rules with respect to the frequency and manner of examination including the imposition of examination fees. The Secretary shall appoint a suitable person to perform such examination. The Secretary and his or her appointees may examine the entire books, records, documents, and operations of each covered financial institution, its parent company, and its subsidiaries, affiliates, or agents, and may examine any of the covered financial institution's, its parent company's or its subsidiaries', affiliates', or agents' officers, directors, employees, and agents under oath. Any document or record prepared or obtained in connection with or relating to any such examination, and any record prepared or obtained by the Secretary to the extent that the record summarizes or contains information derived from any document or record described in this subsection (a), shall not be disclosed to the public unless otherwise provided by this Act.
    (b) Upon the completion of the examination of a covered financial institution under this Section, the Secretary shall prepare a written evaluation of the covered financial institution's record of performance relative to this Act. Each written evaluation required under this subsection (b) shall have a public section, which shall include no less information than would be disclosed in a written evaluation under the federal Community Reinvestment Act, and a confidential section. The Secretary shall give the covered financial institution an opportunity to comment on the evaluation, and then shall make the public section of the written evaluation open to public inspection upon request. The written evaluation shall include, but is not limited to:
        (1) the assessment factors utilized to determine the
    
covered financial institution's descriptive rating;
        (2) the Secretary's conclusions with respect to
    
each such assessment factor;
        (3) a discussion of the facts supporting such
    
conclusions;
        (4) the covered financial institution's descriptive
    
rating and the basis therefor; and
        (5) a summary of public comments.
    (c) Based upon the examination, the covered financial institution shall be assigned one of the following ratings:
        (1) outstanding record of performance in meeting
    
its community financial services needs;
        (2) satisfactory record of performance in meeting
    
its community financial services needs;
        (3) needs to improve record of performance in
    
meeting its community services needs; or
        (4) substantial noncompliance in meeting its
    
community financial services needs.
    (d) Notwithstanding the foregoing provisions of this Section, the Secretary may establish an alternative examination procedure for any covered financial institution, which, as of the most recent examination, has been assigned a rating of outstanding or satisfactory for its record of performance in meeting its community financial services needs.
(Source: P.A. 101-657, eff. 3-23-21.)