SB2765 - 104th General Assembly (2025-2026)

BANKS-CD DISCLOSURE&PENALTIES
Last Action
3/13/2026 - Senate: Rule 3-9(a) / Re-referred to Assignments
Senate Sponsors
Sen. Julie A. Morrison
Statutes Amended In Order of Appearance
205 ILCS 5/48.7 new  
815 ILCS 505/2MMMM new  
Synopsis As Introduced
Amends the Illinois Banking Act. Provides that a financial institution offering a certificate of deposit shall, before account opening, provide the consumer with a clear and conspicuous written disclosure and a specified statement. Establishes provisions concerning disclosure requirements for an automatically renewing certificate of deposit; requirements for financial institutions before processing any early withdrawal of a certificate of deposit; and enforcement provisions. Provides that a violation of the provisions concerning mandatory disclosures related to certificates of deposit is an unlawful practice under the Consumer Fraud and Deceptive Business Practices Act. Amends the Consumer Fraud and Deceptive Business Practices Act to make a corresponding change. Effective January 1, 2027.
Actions
DateChamberAction
1/13/2026SenateFiled with Secretary by Sen. Julie A. Morrison
1/13/2026SenateFirst Reading
1/13/2026SenateReferred to Assignments
2/03/2026SenateAssigned to Financial Institutions
3/13/2026SenateRule 3-9(a) / Re-referred to Assignments