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In accordance with Public Act 101-0259, also cited as the Blockchain Business Development Act, the Illinois Department of Financial and Professional Regulation has prepared the following report on the application of blockchain technology to the Illinois banking sector.
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, 2020 was 0.005% with an Annual Percentage Yield (APY) of 0.01%.
Today, the Illinois Department of Professional and Financial Regulation (IDFPR) announced they have worked with the banks to provide services for unbanked Illinoisans seeking to cash their stimulus checks without incurring check cashing fees.
In order to ease the state licensing process for military members and their spouses as they are posted to Illinois bases, IDFPR announces the 2020 Expedited Licensure Review for Military Service Members and Spouses Report, pursuant to House Bill 1652, now Public Act 100-286. Passed in 2019 by the Illinois General Assembly, this legislation seeks to expedite the licensing review process for Military Service Members and their spouses who are seeking professional licensure in Illinois.
IDFPR wants to ensure that Illinois consumers are aware of COVID-19 relief options that are available to them. Today, IDFPR released an educational one pager for consumers to quickly and easily learn about their federal relief options when it comes to evictions, mortgages, and student loans.
IDFPR today joined with 47 state regulators, 50 attorneys general and the District of Columbia along with the federal Consumer Financial Protection Bureau to announce a $90 million dollar settlement with Nationstar Mortgage LLC, also known as Mr. Cooper, one of the nation’s largest mortgage loan servicers.