IL SB1198 | 2013-2014 | 98th General Assembly

Status

Completed Legislative Action
Spectrum: Partisan Bill (Democrat 4-0)
Status: Failed on January 13 2015 - 100% progression
Action: 2015-01-13 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]

Summary

Amends the Illinois Banking Act. Provides that a bank shall utilize a form, statement, or writing to obtain a customer's consent to disclose any financial records or information obtained from financial records relating to that customer to non-affiliated third persons or parties. Provides criteria for banks to meet regarding the form, statement, or writing to obtain a customer's consent to disclose financial information relating to the customer's financial records. Provides that a bank shall not discriminate against or deny an otherwise qualified customer a financial product or financial service because the customer has not provided the consent to authorize the bank to disclose or share financial records or financial information obtained from financial records relating to that customer with any non-affiliated third person. Provides that a bank shall not be liable for failing to offer products and services to a customer solely because (i) that customer has failed to provide consent and the bank could not offer the product or service without consent and (ii) the customer has failed to provide consent.

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Title

BANKING ACT-FINANCIAL DISCLOSE

Sponsors


History

DateChamberAction
2015-01-13SenateSession Sine Die
2013-03-22SenateRule 3-9(a) / Re-referred to Assignments
2013-03-13SenateAdded as Chief Co-Sponsor Sen. Ira I. Silverstein
2013-03-12SenateAdded as Co-Sponsor Sen. Terry Link
2013-03-06SenateAdded as Chief Co-Sponsor Sen. Jacqueline Y. Collins
2013-02-28SenatePostponed - Financial Institutions
2013-02-07SenateAssigned to Financial Institutions
2013-01-30SenateReferred to Assignments
2013-01-30SenateFirst Reading
2013-01-30SenateFiled with Secretary by Sen. Daniel Biss

Code Citations

ChapterArticleSectionCitation TypeStatute Text
205548.1Amended CodeCitation Text

Illinois State Sources


Bill Comments

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