SB2318Introduced in the Senate
MISLEADING PRACTICES PENALTY
Introduced by Laura Ellman, District 21
What does this bill do?
Plain-English breakdown
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Official description
Amends the Illinois Banking Act. In provisions concerning misleading practices and names prohibited, provides that, if a person, firm, partnership, or corporation that does not accept insured deposits as a substantial portion of its operations and is not chartered by a State or the United States violates specified provisions of the Act, the Secretary of Financial and Professional Regulation (as successor to the Commissioner of Banks and Real Estate) may impose a civil penalty of up to the maximum amount provided for each violation.
Where it stands
Public Act . . . . . . . . . 104-0144
August 1, 2025
How did lawmakers vote?
House votes
2 recorded votes · each counted separately
Senate votes
4 recorded votes · each counted separately
HouseStage: Third Reading in House · May 22, 2025
114
Yes
0
No
1
Absent or Not Voting
115 representatives recorded in this House vote. Colors show vote categories only, not whether a vote was good or bad.
What do people think?
Citizen Voice
How would you vote on this bill?
An unofficial public opinion poll. It does not affect the bill or the official vote.
One response per device. Location is self-reported and not verified. Results are informal and not a scientific survey.
See how each representative voted
| Representative | District | Vote |
|---|---|---|
| Aaron Ortiz | 1 | Yes |
| Elizabeth Hernandez | 2 | Yes |
| Eva Dina Delgado | 3 | Yes |
| Lilian Jimenez | 4 | Yes |
| Kimberly Du Buclet | 5 | Yes |
| Sonya Harper | 6 | Yes |
| Emanuel Welch | 7 | Yes |
| LaShawn Ford | 8 | Yes |
| Yolanda Morris | 9 | Yes |
| Jawaharial Williams | 10 | Yes |
Bill history
Filed with Secretary by Sen. Laura Ellman
First Reading
Referred to Assignments
Assigned to Financial Institutions
Senate Committee Amendment No. 1 Filed with Secretary by Sen. Laura Ellman
Senate Committee Amendment No. 1 Referred to Assignments
Added as Co-Sponsor Sen. Mark L. Walker
Senate Committee Amendment No. 1 Assignments Refers to Financial Institutions
Senate Committee Amendment No. 1 Adopted
Do Pass as Amended Financial Institutions; 008-000-000
Placed on Calendar Order of 2nd Reading March 20, 2025
Second Reading
Placed on Calendar Order of 3rd Reading April 1, 2025
Senate Floor Amendment No. 2 Filed with Secretary by Sen. Laura Ellman
Senate Floor Amendment No. 2 Referred to Assignments
Senate Floor Amendment No. 2 Assignments Refers to Financial Institutions
Senate Floor Amendment No. 2 Recommend Do Adopt Financial Institutions; 008-000-000
Recalled to Second Reading
Senate Floor Amendment No. 2 Adopted; Ellman
Placed on Calendar Order of 3rd Reading
Third Reading - Passed; 055-000-000
Arrived in House
Chief House Sponsor Rep. Margaret Croke
First Reading
Referred to Rules Committee
Assigned to Financial Institutions and Licensing Committee
Do Pass / Short Debate Financial Institutions and Licensing Committee; 012-000-000
Placed on Calendar 2nd Reading - Short Debate
Second Reading - Short Debate
Placed on Calendar Order of 3rd Reading - Short Debate
Added Alternate Chief Co-Sponsor Rep. Christopher "C.D." Davidsmeyer
Added Alternate Chief Co-Sponsor Rep. Jawaharial Williams
Added Alternate Chief Co-Sponsor Rep. Eva-Dina Delgado
Added Alternate Chief Co-Sponsor Rep. Daniel J. Ugaste
Added Alternate Co-Sponsor Rep. Anthony DeLuca
Third Reading - Short Debate - Passed 114-000-000
Passed Both Houses
Added as Co-Sponsor Sen. Chris Balkema
Sent to the Governor
Governor Approved
Effective Date January 1, 2026
Public Act . . . . . . . . . 104-0144
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