republic-os/legislation/us/states/il/102nd/sb-3971.md

type, title, description, jurisdiction, legislature, session, identifier, citation, classification, subjects, status, primary_sponsors, version_count, action_count, vote_count, first_action, last_action, source, source_identifier, source_url, source_hash, vintage, source_snapshot, retrieved_at, confidence, tags

type	title	description	jurisdiction	legislature	session	identifier	citation	classification	subjects	status	primary_sponsors	version_count	action_count	vote_count	first_action	last_action	source	source_identifier	source_url	source_hash	vintage	source_snapshot	retrieved_at	confidence	tags
Bill	FIN-BANKING/RECORDS RETENTION	Amends the Illinois Banking Act. In provisions concerning customer financial records and confidentiality, provides that a bank shall disclose financial records only after the bank sends a copy of the subpoena, summons, warrant, citation, or court order to the person establishing the relationship with the bank at the person's last known address through a third-party commercial carrier or courier with delivery charge fully prepaid, by hand delivery, or by electronic delivery at an email address on file with the bank. In provisions concerning retention of records, provides that each bank shall retain its records in a manner consistent with prudent business practices and applicable State or federal laws, rules, and regulations. Provides that except where a retention period is required by State or federal laws, rules, or regulations, a bank may destroy its records. Removes provisions concerning retention of records. Makes the same changes in the Savings Bank Act. Makes other changes. Effective immediately.	us/states/il	Illinois General Assembly	102nd	SB 3971	Illinois SB 3971 (102nd)	bill		enacted	La Shawn K. Ford Laura M. Murphy	4	34	1	2022-01-21	2022-05-13	openstates	ocd-bill/0576e0d4-a839-478f-b4f2-438559eae0fe	https://ilga.gov/legislation/BillStatus.asp?DocNum=3971&GAID=16&DocTypeID=SB&LegId=139073&SessionID=110&GA=102	4fa5f322a59bed466e80fabd662f8d088ea4ec3b6a732c9e4c106c1865f4cd46	2026-07-01	https://data.openstates.org/daily/2026-07-01/public.pgdump	2026-07-06	reported	legislation bill us-il

Illinois SB 3971 (102nd) — FIN-BANKING/RECORDS RETENTION

Amends the Illinois Banking Act. In provisions concerning customer financial records and confidentiality, provides that a bank shall disclose financial records only after the bank sends a copy of the subpoena, summons, warrant, citation, or court order to the person establishing the relationship with the bank at the person's last known address through a third-party commercial carrier or courier with delivery charge fully prepaid, by hand delivery, or by electronic delivery at an email address on file with the bank. In provisions concerning retention of records, provides that each bank shall retain its records in a manner consistent with prudent business practices and applicable State or federal laws, rules, and regulations. Provides that except where a retention period is required by State or federal laws, rules, or regulations, a bank may destroy its records. Removes provisions concerning retention of records. Makes the same changes in the Savings Bank Act. Makes other changes. Effective immediately.

Version chain

The bill's text revisions, in order — the diff chain from filing to enrollment.

1. Introduced (filed) — source
2. Engrossed (committee substitute) — source
3. Senate Amendment 001 (committee substitute) — source
4. Enrolled (enrolled) — source

Votes

• Third Reading — 108–0 (pass) · lower

Sponsors

• La Shawn K. Ford — primary (person)
• Laura M. Murphy — primary (person)
• Barbara Hernandez — cosponsor (person)
• Kimberly A. Lightford — cosponsor (person)
• Mattie Hunter — cosponsor (person)

Timeline

The legislative action history — every referral, reading, and vote.

• 2022-01-21 Filed with Secretary by Sen. Laura M. Murphy filing
• 2022-01-21 First Reading reading-1
• 2022-01-21 Referred to Assignments referral-committee
• 2022-02-01 Assigned to Financial Institutions referral-committee
• 2022-02-10 Do Pass Financial Institutions; 007-000-000 committee-passage
• 2022-02-10 Placed on Calendar Order of 2nd Reading February 15, 2022
• 2022-02-18 Senate Floor Amendment No. 1 Filed with Secretary by Sen. Laura M. Murphy amendment-introduction
• 2022-02-18 Senate Floor Amendment No. 1 Referred to Assignments referral-committee
• 2022-02-22 Senate Floor Amendment No. 1 Assignments Refers to Financial Institutions
• 2022-02-22 Second Reading reading-2
• 2022-02-22 Placed on Calendar Order of 3rd Reading February 23, 2022
• 2022-02-23 Senate Floor Amendment No. 1 Recommend Do Adopt Financial Institutions; 007-000-000
• 2022-02-24 Added as Co-Sponsor Sen. Mattie Hunter
• 2022-02-24 Recalled to Second Reading reading-2
• 2022-02-24 Senate Floor Amendment No. 1 Adopted; Murphy amendment-passage
• 2022-02-24 Placed on Calendar Order of 3rd Reading
• 2022-02-24 Third Reading - Passed; 055-000-000 passage, reading-3
• 2022-02-24 Added as Co-Sponsor Sen. Kimberly A. Lightford
• 2022-02-25 Arrived in House introduction
• 2022-02-25 Chief House Sponsor Rep. La Shawn K. Ford
• 2022-02-25 First Reading reading-1
• 2022-02-25 Referred to Rules Committee referral-committee
• 2022-03-07 Assigned to Financial Institutions Committee referral-committee
• 2022-03-15 Do Pass / Short Debate Financial Institutions Committee; 011-000-000 committee-passage
• 2022-03-16 Placed on Calendar 2nd Reading - Short Debate
• 2022-03-23 Second Reading - Short Debate reading-2
• 2022-03-23 Placed on Calendar Order of 3rd Reading - Short Debate
• 2022-04-01 Third Reading - Short Debate - Passed 108-000-000 passage, reading-3
• 2022-04-01 Passed Both Houses
• 2022-04-01 Added Alternate Co-Sponsor Rep. Barbara Hernandez
• 2022-04-29 Sent to the Governor executive-receipt
• 2022-05-13 Governor Approved executive-signature
• 2022-05-13 Effective Date May 13, 2022
• 2022-05-13 Public Act . . . . . . . . . 102-0873 became-law

Source

OpenStates / OpenCivicData bulk snapshot 2026-07-01; origin ocd-bill/0576e0d4-a839-478f-b4f2-438559eae0fe. Confidence: reported (aggregated from official Illinois legislature records).