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The Illinois Department of Financial and Professional Regulation, Division of Banking announced today that the interest rate paid by the largest commercial bank with its main banking premises in Illinois on minimum deposit savings accounts as of December 31, 2016 was 0.005% with an Annual Percentage Yield (APY) of 0.01%.
Illinois Department of Financial and Professional Regulation (IDFPR) Secretary Bryan A. Schneider was recently appointed to a one-year term on the National Association of State Credit Union Supervisors (“NASCUS”) Board of Directors. NASCUS, based in Arlington, VA, is the primary resource and voice of the state governmental agencies that charter, regulate and examine the nation’s state-chartered credit unions.
Kreg Allison, the Director of the Division of Real Estate (the “DRE”) for the Illinois Department of Financial and Professional Regulation (“IDFPR”) named Adrienne Levatino to be the Illinois Condominium and Common Interest Community Ombudsperson (the “CCIC Ombudsperson”), effective January 1, 2017. As the CCIC Ombudsperson, Ms. Levatino will serve as the lead community liaison and educator for condominium and common interest community property issues in the State of Illinois.
Effective January 2017, previously barred health care workers and applicants with criminal convictions may once again become eligible for licensure in Illinois. Under a new law, the Illinois Department of Financial and Professional Regulation (“IDFPR”) will implement a review process for impacted health care workers.
Secretary Bryan A. Schneider with the Illinois Department of Financial and Professional Regulation (“IDFPR”) has announced the release for comment of the Department's proposed “Digital Currency Regulatory Guidance” on decentralized digital currencies, such as Bitcoin, Dogecoin, Litecoin, Ethereum, and Zcash. The proposed guidance expresses the IDFPR’s interpretation of Illinois’ Transmitters of Money Act (“TOMA”) and the application of its interpretation to various activities involving digital currencies.