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| Public Act 100-0661 | ||||
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AN ACT concerning regulation.
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Be it enacted by the People of the State of Illinois,
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represented in the General Assembly:
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Section 5. The Electronic Fund Transfer Act is amended by | ||||
changing Section 30 as follows:
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(205 ILCS 616/30)
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Sec. 30. Acceptance of deposits.
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(A) No terminal that accepts deposits of
funds to an
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account may be established or owned in this State except by (a) | ||||
a bank
established under
the laws of this or any other state or | ||||
established under the laws of the United
States that (1) is | ||||
authorized by law to establish a
branch in this State or (2) is | ||||
permitted by rule of the Commissioner to
establish | ||||
deposit-taking terminals in this State in order to maintain
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parity between national banks and banks
established under the | ||||
laws of this or any other state, (b) a savings and loan
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association or savings bank established under the laws of this | ||||
or any other
state or established under the laws of the United | ||||
States, (c) a credit union
established under the laws of this | ||||
or any other state or established under the
laws of the United | ||||
States, or (d) a licensee under the Consumer Installment
Loan
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Act or the Sales Finance Agency Act.
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(B) A person other than a financial institution or an | ||||
affiliate of a
financial institution may establish or own, in | ||
whole or in part, a
cash-dispensing terminal at
which an | ||
interchange transaction may be performed, provided that the | ||
terminal
does not accept deposits of funds to an account, and | ||
provided that the person
establishing or owning the terminal | ||
must post a telephone number on the terminal for consumers to
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call to report problems, along with the Department's telephone | ||
number.
The Commissioner or examiners appointed by the | ||
Commissioner shall have the
authority to examine any person | ||
that has established or owns a terminal in this
State pursuant | ||
to this subsection (B) if the Commissioner has received | ||
multiple
complaints regarding one or more terminals owned by | ||
the person, and in the
event of such an examination, the person | ||
shall pay the reasonable costs and
expenses of the examination | ||
as determined by the Commissioner. The
Commissioner may impose | ||
civil penalties of up to $100 $1,000 against any person
subject | ||
to this subsection (B) for each
the first failure to comply | ||
with this Act but in no event shall any person be subject to | ||
civil penalties under this subsection (B) of more than $1,000 | ||
for violations of this subsection (B) and up to $10,000 for the | ||
second and
each subsequent failure to comply with this Act. All | ||
moneys received by the
Commissioner under this subsection (B) | ||
shall be paid into, and all expenses
incurred by the | ||
Commissioner under this subsection (B) shall be paid from, the
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Bank and Trust Company Fund.
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(C) A network operating in this
State shall maintain a | ||
directory of the locations of cash-dispensing terminals
at | ||
which an interchange transaction may be performed that are | ||
established or
owned in
this State by its members and shall | ||
file the directory with the Commissioner
within 60 days after | ||
the effective date of this amendatory Act of 1997 and
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thereafter once per calendar year.
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(Source: P.A. 100-5, eff. 6-30-17.)
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Section 99. Effective date. This Act takes effect upon | ||
becoming law.
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