Illinois Department of Financial & Professional Regulation Illinois Department of Financial & Professional Regulation
 
Manuel Flores, Acting Secretary  
Pat Quinn, Governor
www.idfpr.com
Translate
www.idfpr.comAgency Quick Links
IDFPR Home Page
Military Families
License Look Up
Physician Profile
License Renewals
Latest News
Mandatory State's Attorneys Reports
Medical Cannabis F.A.Q.'s
Discipline Information
FOID Mental Health Reporting
Consumers
Professionals
Information About
IDFPR
Banking
Non-banking Financial Institutions
Professional Regulation
About IDFPR
Contact Information
General FAQs
Boards & Committees
Search IDFPR.com
Pay Our Bills.Illinois.Gov
State of Illinois Appointments
State of Illinois
Agencies, Boards & Commissions
Banks and Trust Companies - Tips
 

Truth in Savings Act*

  • Requires financial institutions to disclose the "Annual Percentage Yield," or "APY," on savings accounts. The APY tells you how much money you would earn if you kept $100 in the account for one year.
  • Requires that the institution credit your entire deposit instead of crediting a portion of your deposit or using a "low balance per month" method. This increases your earnings.
  • Requires that institutions have available a list of their fees for bounced checks, stop payment orders, certified checks, wire transfers or similar items. Ask for the list.
  • Prohibits institutions from advertising "free" checking if there are hidden charges or requirements, for example, having to maintain a minimum balance to qualify.

* Courtesy of The U.S. Office of Consumer Affairs

 
Bureau of Residential Finance
Residential Finance Main
Residential Finance Contacts
Law Department
Mortgage Brokers and Bankers
Loan Originators
MB Forms
MB Licensee List
MB News
External Links
State Features
Illinois AMBER Alert
Illinois Business Portal
Illinois Veterans Care
Illinois workNet