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Bill

SB 2765

BANKS-CD DISCLOSURE&PENALTIES

104th Regular Session Introduced by Julie Morrison

Illinois SB 2765 modifies bank CD disclosure requirements and penalty provisions, details pending committee review and amendment.

Rule 3-9(a) / Re-referred to Assignments
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Bill Summary · SB 2765

Legislative bill overview

SB 2765 appears to modify disclosure requirements and penalty provisions related to certificates of deposit (CDs) offered by banks in Illinois. The bill was recently introduced and referred to committee assignments, with limited publicly available details about specific provisions at this early stage of the legislative process.

Why is this important

CDs are common financial products used by consumers for savings, so changes to disclosure requirements could affect how banks must inform customers about terms, rates, and conditions. Modifications to penalties may alter enforcement mechanisms that protect consumers or affect bank compliance obligations under state law.

Potential points of contention

  • Disclosure scope and burden: Unclear whether expanded disclosures would benefit consumer transparency or create administrative burdens on financial institutions
  • Penalty structure: Questions about whether penalties are strengthened to deter violations or modified in ways that might reduce enforcement effectiveness
  • Competitive impact: Potential differential effects on community banks versus larger institutions depending on compliance cost allocation

Compiled from official sources — confirm details with the bill’s official record.

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