Illinois · Senate Bill 2029 · 103rd General Assembly

BANK-CHECK FRAUD INVESTIGATION

SB 2029 Sponsored by Laura M. Murphy Died in committee

  1. Introduced Feb 9, 2023
  2. In committee Feb 9, 2023
  3. Died  
  4. Passed the House  
  5. To the governor  
  6. Became law  

What it does

The legislature's own summary of the bill, or its official long title.

Amends the Illinois Banking Act. Provides that a financial institution shall investigate promptly and determine whether fraud has occurred within 10 business days after receiving a notice of fraud. Provides that the financial institution shall report the results of the investigation to the consumer within 3 business days after completing its investigation. Provides that if the financial institution determines that…

Read the full title (199 words)

Amends the Illinois Banking Act. Provides that a financial institution shall investigate promptly and determine whether fraud has occurred within 10 business days after receiving a notice of fraud. Provides that the financial institution shall report the results of the investigation to the consumer within 3 business days after completing its investigation. Provides that if the financial institution determines that fraud has occurred, the financial institution shall credit the customer with the amount of the fraud within one business day. Provides that if the financial institution is unable to complete its investigation within 10 business days, the financial institution may take up to 45 days after receipt of a notice of fraud to investigate and determine whether fraud has occurred so long as the financial institution provisionally credits the consumer's account in the amount of the alleged fraud, including interest if applicable, within 10 business days after receiving the fraud notice. Provides that if the financial institution has a reasonable basis for believing that fraud has occurred and if the consumer notifies the financial institution within 2 business days after learning of the alleged fraud, then the financial institution may withhold a maximum of $50 from the amount credited.

Every action

24 steps, oldest first, as the legislature records them.

Show the 16 earlier steps
  1. SenateFiled with Secretary by Sen. Laura M. Murphy
  2. SenateFirst Reading
  3. CommitteeReferred to Assignments · Senate Assignments
  4. CommitteeAssigned to Financial Institutions · Senate Financial Institutions
  5. CommitteePostponed - Financial Institutions · Senate Financial Institutions
  6. SenateAdded as Co-Sponsor Sen. Julie A. Morrison
  7. SenateAdded as Co-Sponsor Sen. Meg Loughran Cappel
  8. CommitteeRule 3-9(a) / Re-referred to Assignments · Senate Assignments
  9. SenateAdded as Co-Sponsor Sen. Laura Fine
  10. SenateAdded as Co-Sponsor Sen. Elgie R. Sims, Jr.
  11. CommitteeRe-assigned to Financial Institutions · Senate Financial Institutions
  12. CommitteeDo Pass Financial Institutions; 005-002-000 · Senate Financial Institutions
  13. SenatePlaced on Calendar Order of 2nd Reading March 14, 2024
  14. SenateSecond Reading
  15. SenatePlaced on Calendar Order of 3rd Reading March 20, 2024
  16. SenateRule 2-10 Third Reading Deadline Established As April 19, 2024
  1. SenateRule 2-10 Third Reading Deadline Established As May 3, 2024
  2. SenateRule 2-10 Third Reading Deadline Established As May 10, 2024
  3. SenateRule 2-10 Third Reading Deadline Established As May 17, 2024
  4. SenateRule 2-10 Third Reading Deadline Established As May 24, 2024
  5. SenateRule 2-10 Third Reading Deadline Established As May 25, 2024
  6. SenateRule 2-10 Third Reading Deadline Established As May 26, 2024
  7. CommitteePursuant to Senate Rule 3-9(b) / Referred to Assignments · Senate Assignments
  8. SenateSession Sine Die

Roll calls

1 recorded vote: 0 on the floor, 1 in committee. Each shows how every member voted.

Committee votes

DateWhereQuestionResult
Mar 12, 2024 Senate Financial Institutions Financial Institutions - Do Pass
Members

Yes · 5

No · 2

Not voting · 2

 5–2

Sponsors

The member who introduced it, joined by 4 cosponsors: 4 Democrats.

All 4 cosponsors

From Illinois's official records (www.ilga.gov), checked Nov 13, 2026. Text links go to the official versions; LegiList does not copy bill text.