BANKS-CD DISCLOSURE&PENALTIES Senate SponsorsSen. Julie A. Morrison 3/13/2026SenateRule 3-9(a) / Re-referred to Assignments 205 ILCS 5/48.7 new815 ILCS 505/2MMMM newAmends the Illinois Banking Act. Provides that a financial institution offering a certificate of deposit shall, before account opening, provide the consumer with a clear and conspicuous written disclosure and a specified statement. Establishes provisions concerning disclosure requirements for an automatically renewing certificate of deposit; requirements for financial institutions before processing any early withdrawal of a certificate of deposit; and enforcement provisions. Provides that a violation of the provisions concerning mandatory disclosures related to certificates of deposit is an unlawful practice under the Consumer Fraud and Deceptive Business Practices Act. Amends the Consumer Fraud and Deceptive Business Practices Act to make a corresponding change. Effective January 1, 2027. 1/13/2026SenateFiled with Secretary by Sen. Julie A. Morrison 1/13/2026SenateFirst Reading 1/13/2026SenateReferred to Assignments 2/3/2026SenateAssigned to Financial Institutions 3/13/2026SenateRule 3-9(a) / Re-referred to Assignments