HB3467 - 104th General Assembly (2025-2026)

BANKING-VARIOUS
Last Action
08/15/2025 - House: Public Act . . . . . . . . . 104-0310
Statutes Amended In Order of Appearance
205 ILCS 5/2  from Ch. 17, par. 302
205 ILCS 5/5  from Ch. 17, par. 311
205 ILCS 5/13  from Ch. 17, par. 320
205 ILCS 5/15  from Ch. 17, par. 322
205 ILCS 5/16  from Ch. 17, par. 323
205 ILCS 5/16.5  
205 ILCS 5/32.1  from Ch. 17, par. 340
205 ILCS 5/48  
205 ILCS 5/48.1  from Ch. 17, par. 360
205 ILCS 5/48.2  from Ch. 17, par. 360.1
205 ILCS 205/1008  from Ch. 17, par. 7301-8
205 ILCS 205/4002  from Ch. 17, par. 7304-2
205 ILCS 205/4003  from Ch. 17, par. 7304-3
205 ILCS 205/4013  from Ch. 17, par. 7304-13
205 ILCS 205/6002  from Ch. 17, par. 7306-2
205 ILCS 205/7005  from Ch. 17, par. 7307-5
205 ILCS 205/8002  from Ch. 17, par. 7308-2
205 ILCS 205/11008  from Ch. 17, par. 7311-8
205 ILCS 205/1007.100 rep.  
205 ILCS 205/11011 rep.  
205 ILCS 305/10  from Ch. 17, par. 4411
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 the minor, and the rules and regulations of the savings bank with respect to each deposit and account shall be as binding upon the minor as if the minor were of full age and legal capacity. Makes changes to various provisions concerning notice to allow for electronic notice. Makes other changes. Amends the Illinois Credit Union Act. Does not prohibit the furnishing of financial records of a deceased member to a public administrator of any county or other governmental jurisdiction for the purpose of facilitating burial of the customer. Makes other changes. Effective immediately.
Actions
DateChamberAction
02/07/2025HouseFiled with the Clerk by Rep. Dagmara Avelar
02/18/2025HouseFirst Reading
02/18/2025HouseReferred to Rules Committee
03/11/2025HouseAssigned to Financial Institutions and Licensing Committee
03/18/2025HouseDo Pass / Short Debate Financial Institutions and Licensing Committee; 010-000-000
03/19/2025HousePlaced on Calendar 2nd Reading - Short Debate
03/25/2025HouseSecond Reading - Short Debate
03/25/2025HousePlaced on Calendar Order of 3rd Reading - Short Debate
04/08/2025HouseThird Reading - Short Debate - Passed 113-000-000
04/09/2025SenateArrive in Senate
04/09/2025SenatePlaced on Calendar Order of First Reading
04/09/2025SenateChief Senate Sponsor Sen. Robert F. Martwick
04/09/2025SenateFirst Reading
04/09/2025SenateReferred to Assignments
04/23/2025SenateAssigned to Financial Institutions
04/30/2025SenateDo Pass Financial Institutions; 005-000-000
04/30/2025SenatePlaced on Calendar Order of 2nd Reading May 1, 2025
05/07/2025SenateSecond Reading
05/07/2025SenatePlaced on Calendar Order of 3rd Reading May 8, 2025
05/20/2025SenatePlaced on Calendar Order of 3rd Reading **
05/21/2025SenateAdded as Alternate Chief Co-Sponsor Sen. Jason Plummer
05/22/2025SenateThird Reading - Passed; 058-000-000
05/22/2025HousePassed Both Houses
06/20/2025HouseSent to the Governor
08/15/2025HouseGovernor Approved
08/15/2025HouseEffective Date August 15, 2025
08/15/2025HousePublic Act . . . . . . . . . 104-0310