HB4474 - 104th General Assembly (2025-2026)

BANKS-OVERDRAFT FEE BAN
Last Action
1/20/2026 - House: Referred to Rules Committee
House Sponsors
Rep. Hoan Huynh
Statutes Amended In Order of Appearance
205 ILCS 5/48  
205 ILCS 205/9002  from Ch. 17, par. 7309-2
205 ILCS 305/8  from Ch. 17, par. 4409
720 ILCS 5/17-1b  
810 ILCS 5/3-806 rep.  
815 ILCS 205/4.1a  from Ch. 17, par. 6406
Synopsis As Introduced
Amends the Illinois Banking Act, the Savings Bank Act, and the Illinois Credit Union Act. Directs the Secretary of Financial and Professional Regulation to adopt and enforce administrative rules that prohibit the imposition by a bank, savings bank, or credit union of charges in connection with (i) a check drawn or other written order upon, or electronic transfer sought to be effectuated against, insufficient funds or uncollected balances in a consumer account, whether or not the financial institution pays such check, written order, or electronic transfer or (ii) a check or other written order received by such an institution for deposit or collection drawn against a consumer account and subsequently dishonored and returned for any reason by the drawee. Amends the Uniform Commercial Code. Repeals a provision that authorizes the imposition of overdraft fees. Amends the Criminal Code of 2012 and the Interest Act to make conforming changes.
Actions
DateChamberAction
1/16/2026HouseFiled with the Clerk by Rep. Hoan Huynh
1/20/2026HouseFirst Reading
1/20/2026HouseReferred to Rules Committee