IL HB3559

Creates the Illinois Reentry Account Program to provide free, federally insured debit accounts to individuals released from Illinois correctional facilities within the past 12 months

Accounts must have no monthly maintenance fees, no overdraft fees, no minimum balance requirements, and include access to ATM networks, secure debit cards, and online/mobile banking

Department of Financial and Professional Regulation will oversee the program and contract with financial institutions that agree to fee prohibitions and provide adequate infrastructure including ATMs and branches in underserved areas

Illinois Department of Corrections must inform eligible individuals about the program during pre-release counseling and assist with account setup and activation before release

Department must monitor program outcomes including number of accounts opened, geographic distribution, and reduced reliance on predatory financial services, with annual reports submitted to the General Assembly