NURSES: Renew your licenses online here before the May 31, 2024 deadline! Contact our call center at 1-800-560-6420 if you have questions. Go here for help retrieving your user name and here for help resetting your password.

Need to file a complaint against a professional or entity we license? Learn how to do so with the appropriate Division by going here.

Division of Banking

Welcome to the Division of Banking (DOB)

The mission of the Illinois Department of Financial and Professional Regulation, Division of Banking, is to educate the public and promote confidence in the banking industry through a balanced application of regulations in an efficient, professional, fair, and responsive manner.

The Division of Banking oversees the chartering, supervision, and licensure of:

State chartered banks, trust companies, and savings banks

ATMs not owned by financial institutions, check printers, and pawnbrokers;

Mortgage banks and mortgage loan originators

Student Loan Servicers

Modernizing the Pawnbroker Regulation Act of 2023

On March 22, 2024, Governor Pritzker signed into law Public Act 103-0585, which provides important consumer protections, including setting new financing rate caps on pawn transactions, requiring additional disclosures and display of fees. Public Act 103-0585 also institutes new licensing and examination provisions and fees, clarifies the process for handling of pawns of allegedly stolen property, and mandates annual training of pawnbroker employees, subject to Department rules. The full text of the law is available here.

Please note that IDFPR cannot provide legal advice. However, the Department’s Division of Banking is planning to disseminate informational updates to its licensees in the coming weeks. In the meantime, a pawnbroker should contact the Pawnbroker Section at 847-294-4940 with non-legal questions. A pawnbroker may submit a request that conforms to the Division’s Statement on Interpretive Letters, available here.

IDFPR Submits Student Loan Letter to the White House

In March 2024, IDFPR joined its fellow consumer agencies in Oregon and Washington State in sending a letter to President Joe Biden and U.S. Department of Education Secretary Miguel Cardona regarding federal student loans. We encouraged several proposed improvements to assist federal student loan borrowers, including:

create transparency via a refund tracking system to track and resolve credit reporting for federal student loan borrowers who were eligible for loan discharge, but still received a bill from their servicer after payment data was not transferred in early 2023.
process income-driven repayment adjustment applications swiftly and accurately;
implement changes to Saving on a Valuable Education (SAVE) plans to provide relief to borrowers sooner and clarify the timeline;
rectify the long call wait times for borrowers;
increase funding of Federal Student Aid (FSA).

Read our letter and learn more about our proposed steps here.