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| | HB0823 Enrolled | | LRB100 06976 SMS 17027 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,
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| 3 | | represented in the General Assembly:
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| 4 | | Section 5. The Division of Banking Act is amended by adding |
| 5 | | Section 6.2 as follows:
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| 6 | | (20 ILCS 3205/6.2 new) |
| 7 | | Sec. 6.2. Community reinvestment. The Division shall |
| 8 | | review the federal Community Reinvestment Act performance |
| 9 | | evaluations conducted by the primary federal regulator of any |
| 10 | | financial institution regulated by the Division to monitor the |
| 11 | | efforts State chartered banks are making to meet the credit |
| 12 | | needs of the communities in which they serve, including |
| 13 | | low-income and moderate-income neighborhoods, consistent with |
| 14 | | safe and sound banking practices. |
| 15 | | The Department may electronically publish an annual report |
| 16 | | to provide the federal Community Reinvestment Act performance |
| 17 | | evaluations of State chartered banks.
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