SB3903 - 104th General Assembly (2025-2026)

FINANCIAL REG-FEES-INVESTIGATE
Last Action
3/25/2026 - Senate: Placed on Calendar Order of 3rd Reading March 26, 2026
Senate Sponsors
Sen. Mark L. Walker
Hearings
Financial Institutions Hearing Mar 25 2026 11:00AM Capitol 212 Springfield, IL - Senate Floor Amendment 1
Statutes Amended In Order of Appearance
205 ILCS 405/16  from Ch. 17, par. 4832
205 ILCS 405/19.3  from Ch. 17, par. 4838
205 ILCS 660/6.2 new  
205 ILCS 660/7  from Ch. 17, par. 5207
205 ILCS 665/6.5 new  
205 ILCS 670/2  from Ch. 17, par. 5402
205 ILCS 670/2.5 new  
205 ILCS 670/10  from Ch. 17, par. 5410
225 ILCS 429/78 new  
240 ILCS 5/23  from Ch. 17, par. 1473
240 ILCS 5/23.5 new  
815 ILCS 122/3-6 new  
Synopsis As Introduced
Amends the Currency Exchange Act. Removes provisions requiring the Secretary of Financial and Professional Regulation to investigate a currency exchange business at least once in each year and to review and report on the cost of operation of the Currency Exchange Section. Establishes fee-setting provisions for the administration of the Act. Amends the Sales Finance Agency Act, the Consumer Installment Loan Act, and the Safety Deposit License Act. Makes changes to the authority of the Secretary and the Director of the Division of Financial Institutions to examine and investigate a business to determine if it is in compliance with those Acts. Establishes fee-setting provisions for the administration of those Acts. Amends the Debt Management Service Act, the Debt Settlement Consumer Protection Act, and the Payday Loan Reform Act. Establishes fee-setting provisions for the administration of those Acts. Makes other changes. Effective immediately.

Senate Floor Amendment No. 1
Adds reference to:
205 ILCS 660/6.3 new  
205 ILCS 670/2.6 new  
Further amends the Sales Finance Agency Act. Requires the Department of Financial and Professional Regulation, if requested to do so by at least 20 interested persons currently licensed under that Act or an association representing at least 20 interested persons currently licensed under that Act, meet at least once per calendar year with representatives of the sales finance industry to discuss industry developments, fees, anticipated rules, or issues confronting the Department in its regulation and discipline of the industry. Further amends the Consumer Installment Loan Act to establish the same meeting requirements with representatives of the consumer installment lending industry.
Actions
DateChamberAction
2/06/2026SenateFiled with Secretary by Sen. Mark L. Walker
2/06/2026SenateFirst Reading
2/06/2026SenateReferred to Assignments
2/24/2026SenateAssigned to Financial Institutions
3/04/2026SenateDo Pass Financial Institutions; 007-000-000
3/04/2026SenatePlaced on Calendar Order of 2nd Reading March 5, 2026
3/19/2026SenateSenate Floor Amendment No. 1 Filed with Secretary by Sen. Mark L. Walker
3/19/2026SenateSenate Floor Amendment No. 1 Referred to Assignments
3/24/2026SenateSenate Floor Amendment No. 1 Assignments Refers to Financial Institutions
3/25/2026SenateSenate Floor Amendment No. 1 Recommend Do Adopt Financial Institutions; 008-000-000
3/25/2026SenateSecond Reading
3/25/2026SenateSenate Floor Amendment No. 1 Adopted; Walker
3/25/2026SenatePlaced on Calendar Order of 3rd Reading March 26, 2026