The Department of Financial and Professional Regulation's Division of Banking oversees the regulation and licensure of State chartered banks, savings banks, savings and loan associations, trust companies, ATMs not owned by financial institutions, check printers, pawnbrokers, mortgage bankers, and mortgage brokers.
Illinois is a leader in the financial services industry. Illinois has more state-chartered banks than any other state in the United States and ranks in the top three states in the amount of total banking assets, total trust assets and number of foreign bank offices. A strong Illinois banking system promotes economic development, supports the growth of small businesses, encourages home ownership and provides for the financial security of Illinois citizens.
The Division strives to protect and educate the public and promote confidence in the regulated industries through administration of statutory responsibilities in an efficient, professional, responsive, and innovative manner. The Division is comprised of the Office of the Director and two bureaus that represent the Division's various functions and activities; Bureau of Banks, Trust Companies and Savings Institutions and the Bureau of Residential Finance.
This website contains information on the Illinois laws and interpretations of those laws which govern banking in Illinois. The administrative rules which implement these laws have also been included. The site also provides the names and phone numbers of key staff within the Division who can provide you with additional information.
Consumers will also find information about important issues that impact their use of the financial services industry.
BUREAU OF BANKS, TRUST COMPANIES AND SAVINGS INSTITUTIONS
The bureau is responsible for assuring the safety and soundness of the Illinois state-chartered banking system and for ensuring compliance with applicable banking laws and regulations. The Bank Supervision Section (Springfield and Chicago) is responsible for the supervision, regulation, and examination of over 430 Illinois state-chartered commercial banks and savings institutions with assets in excess of $210 billion and is responsible for supervising and examining foreign bank offices with assets in excess of $50 billion and for supervising foreign bank representative offices. The Information Technology Section and the Fiduciary Activities Sectionsupervises, regulates, and performs examinations of state-chartered corporate fiduciaries. Currently, state-chartered corporate fiduciaries include over 170 trust departments of state-chartered banks, savings and loan associations and independent trust companies with more than $3.5 trillion in trust assets. The division also supervises more than 60 foreign corporations which serve in a fiduciary capacity in Illinois. In addition, the division is responsible for the examination and regulation of more than over 430 data processing centers of state banks, electronic funds transfer networks, and switches. The Pawnbroker Regulation Section licenses more than 250 pawnshops in Illinois.
BUREAU OF RESIDENTIAL FINANCE
The Bureau of Residential Finance, Mortgage Banking is responsible for the supervision, regulation and examination of over 700 mortgage brokers and bankers and about 6,500 mortgage loan originators whose primary business is home mortgage lending. On January 4, 2010 Illinois joined the Nationwide Mortgage Licensing System (NMLS) which allows mortgage companies and mortgage loan originators to manage their mortgage license(s) through a secure website. The NMLS also promotes consumer protection by helping to ensure that licensees’ disciplinary records follow them when they cross state lines.