The IBA has submitted a comment letter voicing our members’ concerns regarding the IDFPR’s proposed amendments to the Illinois Community Reinvestment Act administrative rules and fee schedule.
The letter requests that the IDFPR withdraw its proposal until it addresses several concerns, including disproportionate examinations of Illinois banks compared to other covered entities, transparency when collecting and spending examination fees, and threats to the Illinois bank and savings bank charters. The letter also requests targeted changes to improve the rules and align them with federal CRA requirements and practices.
Read the comment letter.