CREDIT UNIONS-VARIOUS
Summary
This Illinois bill modifies regulations for credit unions, expanding the board of directors' ability to delegate hiring and compensation decisions for employees to the chief management official. The bill removes provisions allowing credit unions to engage in digital asset business activities and provide custodial services, while adding requirements that credit unions disclose specific information to members when marketing digital assets. The bill also makes technical adjustments to compliance requirements for credit union investments in mortgage-related securities.
Sponsor
Last action
Assigned to Executive Committee
Apr 27, 2026
Topics
Legislative history
Assigned to Executive Committee
Chief House Sponsor Rep. Ryan Spain
First Reading
Referred to Rules Committee
Senate Floor Amendment No. 2 Recommend Do Adopt Financial Institutions; 006-000-000
Recalled to Second Reading
Senate Floor Amendment No. 2 Adopted; Koehler
Placed on Calendar Order of 3rd Reading
Third Reading - Passed; 055-000-000
Arrived in House
Senate Floor Amendment No. 2 Assignments Refers to Financial Institutions
Senate Floor Amendment No. 2 Filed with Secretary by Sen. David Koehler
Senate Floor Amendment No. 2 Referred to Assignments
Second Reading
Placed on Calendar Order of 3rd Reading March 25, 2026
Senate Committee Amendment No. 1 Adopted
Do Pass as Amended Financial Institutions; 006-000-000
Placed on Calendar Order of 2nd Reading March 12, 2026
Senate Committee Amendment No. 1 Assignments Refers to Financial Institutions
Senate Committee Amendment No. 1 Filed with Secretary by Sen. David Koehler
Senate Committee Amendment No. 1 Referred to Assignments
Assigned to Financial Institutions
Filed with Secretary by Sen. David Koehler
First Reading
Referred to Assignments