# Illinois HB3467: BANKING-VARIOUS Illinois HB3467, BANKING-VARIOUS, is a 104th General Assembly (2025–2026) House bill sponsored by no sponsor on record; status signed, last action 2025-08-15 (Public Act . . . . . . . . . 104-0310); PRIA reads it as touching household money (as of 2026-11-01). - Canonical: https://policyrisk.com/state-bill/IL-HB3467-2025-2026 - As of: 2026-11-01 - Plain-text twin of the page above; the HTML and this file carry the same facts. ## Facts - Bill: Illinois HB3467 - State: Illinois - Session: 104th General Assembly (2025–2026) - Title: BANKING-VARIOUS - Status: signed - Chamber: House - Introduced: 2025-02-07 - Last action: 2025-08-15, Public Act . . . . . . . . . 104-0310 - Sponsors: no sponsor on record - Cosponsors: 3 - Subjects: financial institutions and licensing, assignments, financial institutions - Touches household money: yes - Roll calls: 4 (186 yes, 0 no in all) - Economic provisions PRIA read: 21 ## Summary Amends the Illinois Banking Act. Makes changes to the membership of the State Banking Board of Illinois. Provides that a bank may borrow or incur an obligation and pledge assets to secure deposits. Provides that a bank may provide data processing services to a person for profit. Provides that a bank may invest in financial futures or options transactions. Provides that the board of directors of a bank may provide by resolution that stockholders may attend, participate in, act in, and vote at any annual meeting or special meeting through the use of a conference telephone or interactive technology if specified conditions are satisfied. Provides that a person who makes, or causes to be made, a false statement or false entry with intent to deceive any person or persons authorized to examine into the affairs of the bank or the subsidiary or holding company of that bank, the branch of an out-of-state bank with intent to deceive the Commissioner of Banks and Real Estate or his administrative officers in the performance of their duties under the Act shall be subject to civil penalties imposed by the Commissioner (rather than be guilty of a Class 3 felony). Provides that the Board may authorize the transfer of funds from the Bank and Trust Company Fund. Amends the Savings Bank Act. Provides that the board of directors of a savings bank may provide by resolution that members or stockholders may attend, participate in, act in, and vote at any annual meeting or special meeting through the use of a conference telephone or interactive technology if specified conditions are satisfied. Provides that a savings bank may loan funds through the purchase of fixed rate annuity contracts. Provides that a savings bank may accept deposits made by a minor and may open an account in the name of the minor, and the rules and regulations of the savings bank with respect to each deposit and account shall be as binding upon the minor as if the minor were of full age and legal capacity. Makes changes to various provisions concerning notice to allow for electronic notice. Makes other changes. Amends the Illinois Credit Union Act. Does not prohibit the furnishing of financial records of a deceased member to a public administrator of any county or other governmental jurisdiction for the purpose of facilitating burial of the customer. Makes other changes. Effective immediately. ## Bill overview: provisions PRIA read - Cosigner protections for unmarried adult borrowers: benefit, low. Illinois state banks cannot require an unmarried adult borrower to get a cosigner unless unmarried adult men face the same requirement in similar cases. This protects borrowers from unequal cosigner rules based on sex. - Financial records can help arrange burials: benefit, low. Illinois banks and credit unions may share a deceased customer's or member's financial records with a public administrator. The disclosure must help arrange that person's burial. Sharing is allowed, not required, and does not create a burial payment. - Bank owners can join meetings remotely: benefit, low. Illinois state banks and savings banks may let shareholders or members attend and vote by phone or interactive technology. The board must authorize remote participation, and governing documents must not expressly prohibit it. Banks must support participation, communication, and voting, and provide… - Cannabis banking gets state oversight protections: benefit, low. Illinois' financial regulator cannot take specified adverse actions solely because a state bank or subsidiary serves a legitimate cannabis business. The regulator also cannot discourage service solely because an account holder is connected to that business. Protection covers specified loans involvi… - Bank oversight fees use revised accounting: benefit, low. State bank and savings bank fees under Illinois community reinvestment law go into the Bank and Trust Company Fund. The yearly contingent-fee calculation includes specified Foreign Banking Office Act fees when sharing assessments among state and foreign banks. Expenses paid from the Foreign Banking… - Banks gain electronic meeting notice options: benefit, low. State bank shareholder notices may arrive electronically, personally, or by mail, 10 to 40 days before meetings. Notices must give meeting details and special-meeting purposes; delivery sets the voting record date when none is fixed and transfer books remain open. Savings banks may use those delive… - Banks gain more deposit collateral options: benefit, low. Illinois state banks may pledge assets to secure deposits, alongside other obligations allowed by law. Savings banks may borrow, take on obligations, and pledge assets for listed purposes. Those purposes include securing deposits and acting as agents to sell U.S. government obligations. - Banks gain office and service flexibility: benefit, low. State banks may change their main offices by filing written notice instead of getting the Commissioner's approval. Moves must still meet state capital requirements and applicable federal rules. At affiliate locations, savings banks may handle any transaction another commonly owned bank is allowed t… - Savings banks can recover record costs: benefit, low. Illinois savings banks may recover necessary direct costs of finding, copying, or transporting records required by legal process. This includes lawful subpoenas, warrants, court orders, and citations to discover assets. Reimbursement is no longer limited to records about a customer. - State banks can keep property longer: benefit, low. Illinois state banks may keep real estate acquired while collecting debts or formerly used as bank premises. The limit is 10 years after taking title, or the longer period federal law allows national banks, including extensions. - State banks can sell data services: benefit, low. Illinois state banks may provide data processing services to others for profit. Most related revenue must come from processing banking, financial, or economic data, or data that produces those results. - Grand jury record requests limit notice: cost, low. Illinois banks need not mail customers copies of grand jury subpoenas seeking their records. Savings banks and credit unions must not mail those copies, regardless of whether the Statewide Grand Jury Act applies. Savings banks also need not notify customers when a court order or state or federal la… - Bank fee credits exclude receivership earnings: cost, low. Investment earnings from the Corporate Fiduciary Receivership and Foreign Banking Office Non-insured Institutions Receivership accounts cannot support certain bank fee credits. Related cash-flow reserve, credit, and assessment calculations also exclude several fee sources. These include student loa… - Customer data uses include privacy limits: mixed, low. Illinois savings banks may use or sell lists of customers' names and addresses. Customers can request removal from lists used beyond identifying their accounts, and other account details remain protected by disclosure rules. Credit unions may publish data from financial records only when it cannot… - Bank owners get updated communication rules: mixed, low. State banks may keep shareholder lists on a reasonably accessible electronic network rather than at their offices. Shareholders and authorized state tax officers retain inspection access during business hours. Savings banks may deliver, rather than only mail, a member's or shareholder's communicati… - Minors can hold savings bank accounts: mixed, low. Illinois savings banks may accept deposits from minors and open accounts in their names. The bank's account rules and the minor's receipts and payment orders bind the minor as though they were an adult. - Credit union records support Medicaid reviews: mixed, low. Illinois credit unions may send member records to state human services or healthcare agencies for Medicaid eligibility reviews, including long-term care. Consent must limit disclosure to the department, include a notarized signature, and have a witness certify sound mind and memory. Consent must be… - Mortgage transfer notices allow regular mail: mixed, low. Mortgage servicers may send transfer notices by first-class mail instead of certified mail with a return receipt. Notices must still be sent within 45 days of a transfer or covered servicing-information change. They must include contact information and payment instructions for the next three monthl… - Bank hiring rules recognize federal compliance: mixed, low. Savings banks cannot knowingly employ people convicted of felonies, dishonesty, or breach-of-trust offenses without prior written state consent. The restriction also covers officers, directors, and agents. Compliance with the federal bank-employment law and primary regulator's rules satisfies the c… - Banks gain investment options with limits: mixed, low. State banks may invest in commodity derivatives, but must have management and controls that support safe banking practices. Savings banks may own up to 15% of a class of voting shares in a qualifying bankers' bank, up from 5%. Those stock holdings remain capped at 10% of the savings bank's capital… - Savings banks can buy fixed annuities: mixed, low. Savings banks may buy fixed-rate annuities, with purchases from one issuer capped at 25% of unimpaired capital and surplus. Banks must set overall concentration limits, independently analyze each purchase, obtain credit approvals, assign risk ratings, and review exposure regularly. They must assess… ## Sponsors and cosponsors - Cosponsor: Dagmara Avelar (Democratic), House - Cosponsor: Jason Plummer (Republican), Senate - Cosponsor: Robert F. Martwick (Democratic), Senate ## Roll call votes | Date | Chamber | Motion | Result | Yes | No | Other | | --- | --- | --- | --- | --- | --- | --- | | 2025-05-22 | Senate | Third Reading - Passed; | pass | 58 | 0 | | | 2025-04-30 | Senate | Do Pass Financial Institutions; | pass | 5 | 0 | | | 2025-04-08 | House | Third Reading - Short Debate - Passed | pass | 113 | 0 | | | 2025-03-18 | House | Do Pass / Short Debate Financial Institutions and Licensing Committee; | pass | 10 | 0 | | ## Actions (27) - 2025-08-15: Public Act . . . . . . . . . 104-0310 (House) - 2025-08-15: Effective Date August 15, 2025 (House) - 2025-08-15: Governor Approved (House) - 2025-06-20: Sent to the Governor (House) - 2025-05-22: Passed Both Houses (House) - 2025-05-22: Third Reading - Passed; 058-000-000 (Senate) - 2025-05-21: Added as Alternate Chief Co-Sponsor Sen. Jason Plummer (Senate) - 2025-05-20: Placed on Calendar Order of 3rd Reading ** (Senate) - 2025-05-07: Placed on Calendar Order of 3rd Reading May 8, 2025 (Senate) - 2025-05-07: Second Reading (Senate) - 2025-04-30: Placed on Calendar Order of 2nd Reading May 1, 2025 (Senate) - 2025-04-30: Do Pass Financial Institutions; 005-000-000 (Senate) - 2025-04-23: Assigned to Financial Institutions (Senate) - 2025-04-09: Referred to Assignments (Senate) - 2025-04-09: First Reading (Senate) - 2025-04-09: Chief Senate Sponsor Sen. Robert F. Martwick (Senate) - 2025-04-09: Placed on Calendar Order of First Reading (Senate) - 2025-04-09: Arrive in Senate (Senate) - 2025-04-08: Third Reading - Short Debate - Passed 113-000-000 (House) - 2025-03-25: Placed on Calendar Order of 3rd Reading - Short Debate (House) - 2025-03-25: Second Reading - Short Debate (House) - 2025-03-19: Placed on Calendar 2nd Reading - Short Debate (House) - 2025-03-18: Do Pass / Short Debate Financial Institutions and Licensing Committee; 010-000-000 (House) - 2025-03-11: Assigned to Financial Institutions and Licensing Committee (House) - 2025-02-18: Referred to Rules Committee (House) - 2025-02-18: First Reading (House) - 2025-02-07: Filed with the Clerk by Rep. Dagmara Avelar (House) ## Bill text - Engrossed: [PDF](https://www.ilga.gov/documents/legislation/104/HB/PDF/10400HB3467eng.pdf) - Enrolled: [PDF](https://www.ilga.gov/documents/legislation/104/HB/PDF/10400HB3467enr.pdf) - Introduced: [PDF](https://www.ilga.gov/documents/legislation/104/HB/PDF/10400HB3467.pdf) ## Related bills - HB5198: AFFORDABLE HOUSING-CILAS (passed house) - SB1937: PENSION CODE-VARIOUS (passed senate) - HB2563: CONDO-RESERVE STUDY (in committee) - HB4701: LIMITATIONS FACILITY FEES ACT (in committee) - SB3008: DHS-ABLE PROGRAM INFO MATERIAL (passed senate) - SB3484: VEH CD-PLATES-REGISTRATION (signed) ## Sources - [Engrossed (PDF)](https://www.ilga.gov/documents/legislation/104/HB/PDF/10400HB3467eng.pdf) - [Enrolled (PDF)](https://www.ilga.gov/documents/legislation/104/HB/PDF/10400HB3467enr.pdf) - [Introduced (PDF)](https://www.ilga.gov/documents/legislation/104/HB/PDF/10400HB3467.pdf) ## Related - [HB5198: AFFORDABLE HOUSING-CILAS](https://policyrisk.com/state-bill/IL-HB5198-2025-2026) - [SB1937: PENSION CODE-VARIOUS](https://policyrisk.com/state-bill/IL-SB1937-2025-2026) - [HB2563: CONDO-RESERVE STUDY](https://policyrisk.com/state-bill/IL-HB2563-2025-2026) - [HB4701: LIMITATIONS FACILITY FEES ACT](https://policyrisk.com/state-bill/IL-HB4701-2025-2026) - [SB3008: DHS-ABLE PROGRAM INFO MATERIAL](https://policyrisk.com/state-bill/IL-SB3008-2025-2026) - [SB3484: VEH CD-PLATES-REGISTRATION](https://policyrisk.com/state-bill/IL-SB3484-2025-2026) - [Illinois bills](https://policyrisk.com/states/illinois/bills) - [Illinois state hub](https://policyrisk.com/states/illinois) - [All state legislation](https://policyrisk.com/state-bills) Source: PRIA, https://policyrisk.com/state-bill/IL-HB3467-2025-2026 (as of 2026-11-01).