CURRENCY EXCHANGE ACT
Summary
Amends the Currency Exchange Act. Provides that a currency exchange is not prohibited from accepting any check without regard to the date imprinted on the check, as long as the check is immediately cashed, deposited, and processed in the ordinary course of business. Further provides that a community or ambulatory currency exchange is permitted to place self-service automated terminals on its premises, engage in and charge a fee for the transmission of information upon the request of a consumer, advertise and distribute materials concerning legal services and products on its premises, and provide access to third-party travel reservation and ticketing services. Makes changes to provisions concerning community currency exchanges and the Secretary of Financial and Professional Regulation's authority to fine a licensee or suspend or revoke licenses under the Act. Makes other changes.
Bill status
failed
1 of 4 stages cleared
Introduction
Feb 2014
Committee Review
Floor Vote
Governor
Introduced Feb 13, 2014
Last action Dec 3, 2014
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
6
Key actions
0
Committee
3
Mar 28, 2014
Committee
Rule 19(a) / Re-referred to Rules Committee
lower
Mar 3, 2014
Committee
Assigned to Consumer Protection Committee
lower
Feb 13, 2014
Committee
Referred to Rules Committee
lower
0 primary · 1 co-sponsor
Sponsors
No sponsor information available.
Ask Maddy
·
AI policy assistant
Ask Maddy about HB 5508
Scope: IL
Hi! I can help you understand HB 5508. What would you like to know?
Try one of these
i
Maddy answers using official bill text and legislative records. Always verify before sharing.
Sources cited inline