Illinois Community Reinvestment Act (205 ILCS) Webinar

Illinois Community Reinvestment Act (205 ILCS) Webinar
Illinois Community Reinvestment Act (205 ILCS) Webinar

The Illinois Community Reinvestment Act (205 ILCS 735) was signed into law on March 23, 2021. Community Bankers Association of Illinois (CBAI) and other stakeholders worked with Illinois Department of Financial & Professional Regulation (IDFPR) and the Joint Committee on Administrative Rules for three years to negotiate rules to implement the new law. Those rules were approved and went into effect on July 1, 2024. Under the rules, state chartered banks can expect to see State CRA exams as early as late 2025.

The State CRA is separate from the National CRA. All community banks will be required to undergo National CRA exams. Only State chartered banks will be required to complete the additional State CRA exam. IDFPR has informed CBAI that they intend to conduct joint CRA exams with National examiners and issue a separate State CRA exam finding.

This webinar will bring together experts on the new State CRA program to inform compliance officers of the new standards. While there is overlap between the exam standards for both CRA programs, there are new provisions and requirements that are unique to the State CRA.

This webinar will be helpful to compliance officers, senior bank executives and loan officers. The format will offer many opportunities to ask questions and seek clarification on the new law directly from the senior staff of the IDFPR Division of Banking.

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Once online registration closes, please call CBAI at 800/736-2224 to register for this event.
When
8/1/2024
Where
Live via Zoom or On-Demand

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