Fabio
98 lines
6.4 KiB
Markdown
98 lines
6.4 KiB
Markdown
---
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type: "Bill"
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title: "FIN-BANKING/RECORDS RETENTION"
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description: "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."
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jurisdiction: "us/states/il"
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legislature: "Illinois General Assembly"
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session: "102nd"
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identifier: "SB 3971"
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citation: "Illinois SB 3971 (102nd)"
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classification: ["bill"]
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subjects: []
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status: "enacted"
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primary_sponsors: ["La Shawn K. Ford", "Laura M. Murphy"]
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version_count: 4
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action_count: 34
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vote_count: 1
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first_action: "2022-01-21"
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last_action: "2022-05-13"
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source: "openstates"
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source_identifier: "ocd-bill/0576e0d4-a839-478f-b4f2-438559eae0fe"
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source_url: "https://ilga.gov/legislation/BillStatus.asp?DocNum=3971&GAID=16&DocTypeID=SB&LegId=139073&SessionID=110&GA=102"
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source_hash: "4fa5f322a59bed466e80fabd662f8d088ea4ec3b6a732c9e4c106c1865f4cd46"
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vintage: "2026-07-01"
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source_snapshot: "https://data.openstates.org/daily/2026-07-01/public.pgdump"
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retrieved_at: "2026-07-06"
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confidence: "reported"
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tags: ["legislation", "bill", "us-il"]
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---
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# Illinois SB 3971 (102nd) — FIN-BANKING/RECORDS RETENTION
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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.
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## Version chain
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The bill's text revisions, in order — the diff chain from filing to enrollment.
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1. **Introduced** (filed) — [source](https://ilga.gov/legislation/102/SB/PDF/10200SB3971.pdf)
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2. **Engrossed** (committee substitute) — [source](https://ilga.gov/legislation/102/SB/PDF/10200SB3971eng.pdf)
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3. **Senate Amendment 001** (committee substitute) — [source](https://ilga.gov/legislation/102/SB/PDF/10200SB3971sam001.pdf)
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4. **Enrolled** (enrolled) — [source](https://ilga.gov/legislation/102/SB/PDF/10200SB3971enr.pdf)
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## Votes
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- Third Reading — **108–0** (pass) · lower
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## Sponsors
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- La Shawn K. Ford — primary (person)
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- Laura M. Murphy — primary (person)
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- Barbara Hernandez — cosponsor (person)
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- Kimberly A. Lightford — cosponsor (person)
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- Mattie Hunter — cosponsor (person)
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## Timeline
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The legislative action history — every referral, reading, and vote.
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- **2022-01-21** Filed with Secretary by Sen. Laura M. Murphy `filing`
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- **2022-01-21** First Reading `reading-1`
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- **2022-01-21** Referred to Assignments `referral-committee`
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- **2022-02-01** Assigned to Financial Institutions `referral-committee`
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- **2022-02-10** Do Pass Financial Institutions; 007-000-000 `committee-passage`
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- **2022-02-10** Placed on Calendar Order of 2nd Reading February 15, 2022
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- **2022-02-18** Senate Floor Amendment No. 1 Filed with Secretary by Sen. Laura M. Murphy `amendment-introduction`
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- **2022-02-18** Senate Floor Amendment No. 1 Referred to Assignments `referral-committee`
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- **2022-02-22** Senate Floor Amendment No. 1 Assignments Refers to Financial Institutions
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- **2022-02-22** Second Reading `reading-2`
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- **2022-02-22** Placed on Calendar Order of 3rd Reading February 23, 2022
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- **2022-02-23** Senate Floor Amendment No. 1 Recommend Do Adopt Financial Institutions; 007-000-000
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- **2022-02-24** Added as Co-Sponsor Sen. Mattie Hunter
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- **2022-02-24** Recalled to Second Reading `reading-2`
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- **2022-02-24** Senate Floor Amendment No. 1 Adopted; Murphy `amendment-passage`
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- **2022-02-24** Placed on Calendar Order of 3rd Reading
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- **2022-02-24** Third Reading - Passed; 055-000-000 `passage, reading-3`
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- **2022-02-24** Added as Co-Sponsor Sen. Kimberly A. Lightford
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- **2022-02-25** Arrived in House `introduction`
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- **2022-02-25** Chief House Sponsor Rep. La Shawn K. Ford
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- **2022-02-25** First Reading `reading-1`
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- **2022-02-25** Referred to Rules Committee `referral-committee`
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- **2022-03-07** Assigned to Financial Institutions Committee `referral-committee`
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- **2022-03-15** Do Pass / Short Debate Financial Institutions Committee; 011-000-000 `committee-passage`
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- **2022-03-16** Placed on Calendar 2nd Reading - Short Debate
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- **2022-03-23** Second Reading - Short Debate `reading-2`
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- **2022-03-23** Placed on Calendar Order of 3rd Reading - Short Debate
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- **2022-04-01** Third Reading - Short Debate - Passed 108-000-000 `passage, reading-3`
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- **2022-04-01** Passed Both Houses
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- **2022-04-01** Added Alternate Co-Sponsor Rep. Barbara Hernandez
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- **2022-04-29** Sent to the Governor `executive-receipt`
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- **2022-05-13** Governor Approved `executive-signature`
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- **2022-05-13** Effective Date May 13, 2022
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- **2022-05-13** Public Act . . . . . . . . . 102-0873 `became-law`
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## Source
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OpenStates / OpenCivicData bulk snapshot [2026-07-01](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/0576e0d4-a839-478f-b4f2-438559eae0fe`. Confidence: reported (aggregated from official Illinois legislature records).
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