republic-os/legislation/us/states/il/98th/hb-1572.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	CREDIT UNION-CIVIL PENALTIES	Amends the Illinois Credit Union Act. Provides that the Department of Financial and Professional Regulation may assess a civil penalty against credit unions only when the Secretary of Financial and Professional Regulation reasonably determines, based on objective facts and an accurate assessment of applicable legal standards, that the credit union has committed a violation of the Act, any rule adopted in accordance with the Act, or any order of the Secretary issued pursuant to his or her authority under the Act or has engaged or participated in any unsafe or unsound practice, and that the violation or unsafe or unsound practice has directly resulted in a substantial and material financial loss or created a reasonable probability that a substantial and material financial loss will directly result, or that violation or unsafe or unsound practice constituted willful misconduct and a material breach of fiduciary duty of any director, officer, or committee member of the credit union. Provides that civil penalty orders are confidential supervisory information and shall be prohibited from disclosure to any person, except that once such an order is a final administrative decision of the Department and has been adjudicated to finality, a concise syllabus of the order may be posted on the Department's official website. Effective immediately.	us/states/il	Illinois General Assembly	98th	HB 1572	Illinois HB 1572 (98th)	bill		enacted		3	31	2	2013-02-13	2013-08-16	openstates	ocd-bill/652fcc31-7f68-471c-9e21-3f9229144e5a	http://ilga.gov/legislation/BillStatus.asp?DocNum=1572&GAID=12&DocTypeID=HB&LegId=72632&SessionID=85&GA=98	2b47020bb26c069faa082765c1c96250803b1897981167b2f2736b2b66ffcd0c	2026-07-01	https://data.openstates.org/daily/2026-07-01/public.pgdump	2026-07-06	reported	legislation bill us-il

Illinois HB 1572 (98th) — CREDIT UNION-CIVIL PENALTIES

Amends the Illinois Credit Union Act. Provides that the Department of Financial and Professional Regulation may assess a civil penalty against credit unions only when the Secretary of Financial and Professional Regulation reasonably determines, based on objective facts and an accurate assessment of applicable legal standards, that the credit union has committed a violation of the Act, any rule adopted in accordance with the Act, or any order of the Secretary issued pursuant to his or her authority under the Act or has engaged or participated in any unsafe or unsound practice, and that the violation or unsafe or unsound practice has directly resulted in a substantial and material financial loss or created a reasonable probability that a substantial and material financial loss will directly result, or that violation or unsafe or unsound practice constituted willful misconduct and a material breach of fiduciary duty of any director, officer, or committee member of the credit union. Provides that civil penalty orders are confidential supervisory information and shall be prohibited from disclosure to any person, except that once such an order is a final administrative decision of the Department and has been adjudicated to finality, a concise syllabus of the order may be posted on the Department's official website. 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. Enrolled (enrolled) — source

Votes

• Third Reading — 55–0 (pass) · upper
• Third Reading — 112–0 (pass) · lower

Sponsors

• Derrick Smith — primary (person)

Timeline

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

• 2013-02-13 Filed with the Clerk by Rep. Lou Lang filing
• 2013-02-14 First Reading reading-1
• 2013-02-14 Referred to Rules Committee referral-committee
• 2013-02-25 Assigned to Financial Institutions Committee referral-committee
• 2013-03-07 House Committee Amendment No. 1 Filed with Clerk by Rep. Lou Lang amendment-introduction
• 2013-03-07 House Committee Amendment No. 1 Referred to Rules Committee referral-committee
• 2013-03-11 House Committee Amendment No. 1 Rules Refers to Financial Institutions Committee
• 2013-03-14 House Committee Amendment No. 1 Adopted in Financial Institutions Committee; by Voice Vote amendment-passage
• 2013-03-14 Do Pass as Amended / Short Debate Financial Institutions Committee; 010-000-000 committee-passage
• 2013-03-15 Placed on Calendar 2nd Reading - Short Debate
• 2013-04-08 Chief Sponsor Changed to Rep. Derrick Smith
• 2013-04-08 Added Chief Co-Sponsor Rep. Lou Lang
• 2013-04-10 Second Reading - Short Debate reading-2
• 2013-04-10 Placed on Calendar Order of 3rd Reading - Short Debate
• 2013-04-11 Third Reading - Short Debate - Passed 112-000-000 reading-3, passage
• 2013-04-12 Arrive in Senate introduction
• 2013-04-12 Placed on Calendar Order of First Reading reading-1
• 2013-04-12 Chief Senate Sponsor Sen. David Koehler
• 2013-04-12 First Reading reading-1
• 2013-04-12 Referred to Assignments referral-committee
• 2013-04-23 Assigned to Financial Institutions referral-committee
• 2013-05-01 Do Pass Financial Institutions; 008-000-000 committee-passage
• 2013-05-01 Placed on Calendar Order of 2nd Reading May 2, 2013
• 2013-05-07 Second Reading reading-2
• 2013-05-07 Placed on Calendar Order of 3rd Reading May 8, 2013
• 2013-05-21 Third Reading - Passed; 055-000-000 reading-3, passage
• 2013-05-21 Passed Both Houses
• 2013-06-19 Sent to the Governor executive-receipt
• 2013-08-16 Governor Approved executive-signature
• 2013-08-16 Effective Date August 16, 2013
• 2013-08-16 Public Act . . . . . . . . . 98-0400 became-law

Source

OpenStates / OpenCivicData bulk snapshot 2026-07-01; origin ocd-bill/652fcc31-7f68-471c-9e21-3f9229144e5a. Confidence: reported (aggregated from official Illinois legislature records).