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IL SB2388

Bill

Official Source

Status

Failed

1/9/2019

Primary Sponsor

Heather Steans

Click for details

Origin

Senate

100th General Assembly

AI Summary

  • Amends the Savings Bank Act, specifically Section 6014 regarding the Commissioner's authority to promulgate rules and regulations
  • Makes a technical change by removing "The" at the beginning of subsection (a) and replacing it with "The" (strikethrough/underline edit)
  • Maintains existing provisions requiring the Commissioner to establish rules for permissible investment levels and asset concentrations for savings banks
  • Keeps existing language requiring regulations to consider capital adequacy, operating income, underwriting standards, risk, and competitive parity with other financial institutions
  • Preserves enforcement provisions treating violations as unsafe and unsound practices subject to enforcement actions, civil penalties, or other sanctions

Legislative Description

REGULATION-TECH

Last Action

Session Sine Die

1/9/2019

Committee Referrals

Assignments5/11/2018
Executive2/6/2018
Assignments1/24/2018

Full Bill Text

No bill text available