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    Financial & Professional Regulation

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Fintech startups and established companies seeking to develop new ideas and technology for the financial services market will have another opportunity to bounce ideas off Illinois’ financial regulator on October 18th in Chicago. The Illinois Department of Financial and Professional Regulation (IDFPR) will be hosting its second round of office hours at Currency (20 W. Kinzie, 12th Floor) in Chicago.
The Illinois Department of Financial and Professional Regulation (IDFPR) announced today that Director of Banking, Kerri Doll; Director of Financial Institutions, Francisco Menchaca; Director of Professional Regulation, Jessica Baer; and Director of Real Estate, Kreg Allison, signed the following enforcement actions taken during the month of August 2017.
The Illinois Department of Financial and Professional Regulation, Division of Banking (“IDFPR”), filed a Cease and Desist Order (“Order”) against Ocwen Loan Servicing, LLC and two other Ocwen-owned licensees in April 2017 alleging unsafe, unsound, and unlawful conduct related to residential mortgage loan servicing activities with Illinois consumers.
A recent change in law (PA 99-0427) requires all cosmetologists, cosmetology teachers and cosmetology clinic teachers to comply with the continuing education (CE) hours requirement before submitting a renewal application. This change is effective for the 2017 renewal period.
Participate in the IDFPR Division of Banking’s annual two‐part “A Day with the Secretary.” The purpose of this event is to provide a forum for discussion on the current landscape of ourstate banking system and regulatory environment.
Physicians may now elect Illinois as a ‘State of Principal Licensure’ as part of the Interstate Medical Licensure Compact (“Compact”). Physicians licensed in Illinois can file a request through the Compact’s website to have their education, training and background reviewed by the State of Illinois to determine Compact eligibility. If a physician meets the Compact qualifications, as determined by the State of Illinois, a “Letter of Qualification” will be issued.