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| | 104TH GENERAL ASSEMBLY
State of Illinois
2025 and 2026
SB3035 Introduced 1/28/2026, by Sen. Laura Ellman SYNOPSIS AS INTRODUCED:
| | | Amends the Consumer Deposit Account Act. Prohibits a financial institution from imposing a maintenance fee or service charge in connection with a dormant or inactive consumer-deposit account. |
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| | A BILL FOR |
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| | SB3035 | | LRB104 19162 BAB 32607 b |
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| 1 | | AN ACT concerning regulation.
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| 2 | | Be it enacted by the People of the State of Illinois, |
| 3 | | represented in the General Assembly:
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| 4 | | Section 5. The Consumer Deposit Account Act is amended by |
| 5 | | adding Section 6 as follows:
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| 6 | | (205 ILCS 605/6 new) |
| 7 | | Sec. 6. Prohibition on dormant or inactive account fees or |
| 8 | | service charges. |
| 9 | | (a) For purposes of this Section, a consumer-deposit |
| 10 | | account is considered dormant or inactive if: |
| 11 | | (1) one year has passed from the date of the last |
| 12 | | transaction recorded on the books of the financial |
| 13 | | institution with respect to the account; and |
| 14 | | (2) the account holder has not corresponded with the |
| 15 | | financial institution regarding the account for a period |
| 16 | | of not less than 12 months immediately preceding the |
| 17 | | determination. |
| 18 | | (b) A financial institution may not impose a maintenance |
| 19 | | fee or service charge in connection with a dormant or inactive |
| 20 | | consumer-deposit account. |