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IL SB3035

Bill

Official Source

Status

Introduced

1/29/2026

Primary Sponsor

Laura Ellman

Click for details

Origin

Senate

104th General Assembly

AI Summary

  • Prohibits financial institutions from imposing maintenance fees or service charges on dormant or inactive consumer-deposit accounts
  • Defines an account as dormant or inactive when one year has passed since the last recorded transaction on the account
  • Requires that the account holder must also have had no correspondence with the financial institution for at least 12 months for the account to be considered dormant
  • Amends the Consumer Deposit Account Act by adding a new Section 6
  • Introduced January 28, 2026 by Senator Laura Ellman

Legislative Description

CONSUMER-DEPOSIT ACCOOUNT

Last Action

Rule 3-9(a) / Re-referred to Assignments

3/13/2026

Committee Referrals

Assignments3/13/2026
Financial Institutions2/10/2026
Assignments1/29/2026

Full Bill Text

No bill text available