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90_HB3284
205 ILCS 5/48.6 new
205 ILCS 105/3-8.5 new
205 ILCS 205/4014 new
205 ILCS 305/10.5 new
Amends the Illinois Banking Act, the Illinois Savings and
Loan Act of 1985, the Savings Bank Act, and the Illinois
Credit Union Act. Provides that the disposal of written
records of a customer must be in accordance with procedures
designed to prevent unauthorized viewing or use.
LRB9008738JSgc
LRB9008738JSgc
1 AN ACT concerning records of financial institution
2 customers, amending named Acts.
3 Be it enacted by the People of the State of Illinois,
4 represented in the General Assembly:
5 Section 5. The Illinois Banking Act is amended by adding
6 Section 48.6 as follows:
7 (205 ILCS 5/48.6 new)
8 Sec. 48.6. Written records; destruction. When written
9 records containing information relating to an identified
10 customer or an identified customer's depository or loan
11 account are no longer required or needed to be retained, the
12 records shall be disposed of according to established
13 procedures and processes reasonably calculated to assure
14 destruction or disposal in a manner that prevents subsequent
15 unauthorized review or reuse of the record.
16 Section 10. The Illinois Savings and Loan Act of 1985 is
17 amended by adding Section 3-8.5 as follows
18 (205 ILCS 105/3-8.5 new)
19 Sec. 3-8.5. Written records; destruction. When written
20 records containing information relating to an identified
21 customer or an identified customer's depository or loan
22 account are no longer required or needed to be retained, the
23 records shall be disposed of according to established
24 procedures and processes reasonably calculated to assure
25 destruction or disposal in a manner that prevents subsequent
26 unauthorized review or reuse of the record.
27 Section 15. The Savings Bank Act is amended by adding
28 Section 4014 as follows:
-2- LRB9008738JSgc
1 (205 ILCS 205/4014 new)
2 Sec. 4014. Written records; destruction. When written
3 records containing information relating to an identified
4 customer or an identified customer's depository or loan
5 account are no longer required or needed to be retained, the
6 records shall be disposed of according to established
7 procedures and processes reasonably calculated to assure
8 destruction or disposal in a manner that prevents subsequent
9 unauthorized review or reuse of the record.
10 Section 20. The Illinois Credit Union Act is amended by
11 adding Section 10.5 as follows:
12 (205 ILCS 305/10.5 new)
13 Sec. 10.5. Written records; destruction. When written
14 records containing information relating to an identified
15 customer or an identified customer's depository or loan
16 account are no longer required or needed to be retained, the
17 records shall be disposed of according to established
18 procedures and processes reasonably calculated to assure
19 destruction or disposal in a manner that prevents subsequent
20 unauthorized review or reuse of the record.