Illinois General Assembly - Full Text of SB0331
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Full Text of SB0331  100th General Assembly


Sen. Antonio Muñoz

Filed: 8/4/2017





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2    AMENDMENT NO. ______. Amend Senate Bill 331 by replacing
3everything after the enacting clause with the following:
4    "Section 5. The Electronic Fund Transfer Act is amended by
5changing Section 30 as follows:
6    (205 ILCS 616/30)
7    Sec. 30. Acceptance of deposits.
8    (A) No terminal that accepts deposits of funds to an
9account may be established or owned in this State except by (a)
10a bank established under the laws of this or any other state or
11established under the laws of the United States that (1) is
12authorized by law to establish a branch in this State or (2) is
13permitted by rule of the Commissioner to establish
14deposit-taking terminals in this State in order to maintain
15parity between national banks and banks established under the
16laws of this or any other state, (b) a savings and loan



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1association or savings bank established under the laws of this
2or any other state or established under the laws of the United
3States, (c) a credit union established under the laws of this
4or any other state or established under the laws of the United
5States, or (d) a licensee under the Consumer Installment Loan
6Act or the Sales Finance Agency Act.
7    (B) A person other than a financial institution or an
8affiliate of a financial institution may establish or own, in
9whole or in part, a cash-dispensing terminal at which an
10interchange transaction may be performed, provided that the
11terminal does not accept deposits of funds to an account, and
12provided that the person establishing or owning the terminal
13must post a telephone number on the terminal for consumers to
14call to report problems, along with the Department's telephone
15number. The Commissioner or examiners appointed by the
16Commissioner shall have the authority to examine any person
17that has established or owns a terminal in this State pursuant
18to this subsection (B) if the Commissioner has received
19multiple complaints regarding one or more terminals owned by
20the person, and in the event of such an examination, the person
21shall pay the reasonable costs and expenses of the examination
22as determined by the Commissioner. The Commissioner may impose
23civil penalties of up to $100 $1,000 against any person subject
24to this subsection (B) for each the first failure to comply
25with this Act but in no event shall any person be subject to
26civil penalties under this subsection (B) of more than $1,000



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1for violations of this subsection (B) and up to $10,000 for the
2second and each subsequent failure to comply with this Act. All
3moneys received by the Commissioner under this subsection (B)
4shall be paid into, and all expenses incurred by the
5Commissioner under this subsection (B) shall be paid from, the
6Bank and Trust Company Fund.
7    (C) A network operating in this State shall maintain a
8directory of the locations of cash-dispensing terminals at
9which an interchange transaction may be performed that are
10established or owned in this State by its members and shall
11file the directory with the Commissioner within 60 days after
12the effective date of this amendatory Act of 1997 and
13thereafter once per calendar year.
14(Source: P.A. 100-5, eff. 6-30-17.)
15    Section 99. Effective date. This Act takes effect upon
16becoming law.".