MISLEADING PRACTICES PENALTY
Summary
Amends the Illinois Banking Act. In provisions concerning the penalty for misleading practices and names, changes the civil penalty that may be imposed to the maximum amount otherwise permitted under specified provisions, $100,000 for each violation (rather than $10,000 for each violation). Provides that the remedies provided in those provisions are in addition to, not to the exclusion of, any other remedies available under the law. Defines terms. Makes other changes.
Bill status
signed
all 5 stages cleared
Introduction
Apr 2025
Committee Review
Apr 2025
Senate Passage
May 2025
House Passage
May 2025
Signed into Law
Aug 2025
Introduced Apr 10, 2025
Signed Aug 1, 2025
Maddy AI version diff · 2 comparisons
What changed between versions
Engrossed
→
Enrolled
·
1 edit
·
Aug 1, 2025
MINOR
The bill text changed from the 'Engrossed' version to the 'Enrolled' version, which is the final version signed into law. The primary difference is the update of the header text to reflect this final status. No substantive policy changes, such as new rules, funding amounts, or eligibility criteria, were made in this section.
TECHNICAL
Updated the document header from 'SB2318 Engrossed' to 'SB2318 Enrolled' to indicate the bill has been finalized and approved for signing.
Floor votes · Senate Apr 10, 2025 · House May 22, 2025
How they voted
54–0
Passed · 4 other
Total votes 58
Apr 10, 2025
D
Democratic39
92% Yea
R
Republican19
94% Yea
Vote distribution
All Yea
All Nay
Mixed
No data
Full legislative history
Actions timeline
Total actions
42
Key actions
9
Committee
9
Amendments
6
Aug 1, 2025
Signed into law
Governor Approved
upper
May 22, 2025
Upper · Passed
Passed Both Houses
upper
May 22, 2025
Lower · Passed
Third Reading - Short Debate - Passed 114-000-000
lower
Apr 29, 2025
Lower · Passed
Do Pass / Short Debate Financial Institutions and Licensing Committee; 012-000-000
lower
Apr 17, 2025
Committee
Assigned to Financial Institutions and Licensing Committee
lower
Apr 11, 2025
Committee
Referred to Rules Committee
lower
Apr 10, 2025
Introduced
Arrived in House
lower
Apr 10, 2025
Upper · Passed
Third Reading - Passed; 055-000-000
upper
Apr 10, 2025
Upper · Passed
Senate Floor Amendment No. 2 Adopted; Ellman
upper
Apr 10, 2025
Introduced
Senate Floor Amendment No. 2 Recommend Do Adopt Financial Institutions; 008-000-000
upper
Apr 8, 2025
Introduced
Senate Floor Amendment No. 2 Assignments Refers to Financial Institutions
upper
Apr 3, 2025
Committee
Senate Floor Amendment No. 2 Referred to Assignments
upper
Apr 3, 2025
Introduced
Senate Floor Amendment No. 2 Filed with Secretary by Sen. Laura Ellman
upper
Mar 19, 2025
Upper · Passed
Do Pass as Amended Financial Institutions; 008-000-000
upper
Mar 19, 2025
Upper · Passed
Senate Committee Amendment No. 1 Adopted
upper
Mar 12, 2025
Upper · Passed
Senate Committee Amendment No. 1 Assignments Refers to Financial Institutions
upper
Mar 4, 2025
Committee
Senate Committee Amendment No. 1 Referred to Assignments
upper
Mar 4, 2025
Introduced
Senate Committee Amendment No. 1 Filed with Secretary by Sen. Laura Ellman
upper
Mar 4, 2025
Committee
Assigned to Financial Institutions
upper
Feb 7, 2025
Committee
Referred to Assignments
upper
2 primary · 6 co-sponsors
Sponsors
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