News

IBA Welcomes Injunction Delaying Illinois Interchange Fee Prohibition Act Implementation

12/23/2024

A federal judge on Friday ordered a preliminary injunction against enforcement of the Illinois law restricting interchange fees for national banks and federal savings associations but left the law in effect for Illinois-chartered institutions and credit card networks for now. The order also leaves the law in effect for out-of-state banks and federal credit unions until the court can review the legal arguments in more detail.

Oral Arguments Held on IBA’s Legal Challenge to State Interchange Law

11/5/2024

On October 30, oral arguments were held in the Chicago federal courthouse on the IBA’s federal lawsuit challenging Illinois’ Interchange Fee Prohibition Act.

IBA, ABA, and Credit Union Groups File Legal Challenge to Illinois Law Restricting Interchange Fees

8/16/2024

The Illinois Bankers Association together with the American Bankers Association, America’s Credit Unions and the Illinois Credit Union League today filed a complaint in the U.S. District Court for the Northern District of Illinois challenging the Illinois Interchange Fee Prohibition Act (IFPA). The IFPA, which was signed into law on June 7, would ban banks, payment networks and other entities from charging or receiving interchange fees in Illinois on the portion of a debit or credit card transaction attributable to tax or gratuity. The law has been opposed by a number of Illinois business groups. It has also been criticized by the editorial boards of the Chicago Tribune and Crain’s Chicago Business. https://gotoiba.com/uploads/compliance-connection/20240815_Illinois_Interchange_Complaint_as_filed.pdf

IBA Honors Kevin Rogers as 2024 Banker of the Year

8/7/2024

The Illinois Bankers Association (IBA) proudly recognizes Kevin Rogers, President at Philo Exchange Bank in Philo, Illinois, as the 2024 Banker of the Year. Rogers received the award during the IBA's Annual Convention held in Amelia Island, Florida on June 25, 2024.

IBA Announces Illinois Bankers and Linda J. Koch Scholarships Recipients

8/7/2024

The Illinois Bankers Association (IBA) is proud to announce the recipients of the 2024 Illinois Bankers and Linda J. Koch Scholarships. These prestigious awards support high school graduates and college students pursuing degrees in the financial services sector. Eligible applicants must be sponsored by an IBA member financial institution and show a keen interest in a banking career. Additionally, candidates for the Linda J. Koch Scholarship must demonstrate exceptional leadership, and service attributes, while meeting other specified criteria.

Three Illinois Banks Receive Community Service Award

8/7/2024

First National Bank (FNB) of Steeleville, Metropolitan Capital Bank & Trust, and People's Bank of Kankakee County have been named as the 2024 Illinois Bank Community Service Award winners. These awards were presented during the IBA’s Annual Convention in Amelia Island, Florida on June 25, 2024. 

Illinois Bankers Association Announces New Board of Directors Members for 2024-2025

6/28/2024

The Illinois Bankers Association (IBA) is proud to announce new board members for 2024 - 2025, which will further enhance the association’s record of advocacy on behalf of banks across the state. “We are honored to have these industry leaders serve on our Board of Directors, where their skills and expertise will help build a stronger banking community for all,” said Randy Hultgren, President and CEO of the Illinois Bankers Association.

IBA Urges Governor to Veto Interchange Fee Prohibition Act

6/4/2024

IBA Urges Governor to Veto Interchange Fee Prohibition Act.

Illinois Bankers Association Names Ron Hobson of Springfield as 2023 Volunteer of the Year

3/12/2024

The Illinois Bankers Association (IBA) has named Ron Hobson as the organization’s 2023 Volunteer of the Year. The award is presented annually to an individual who has gone above and beyond contributing to the banking industry. Hobson serves as Vice President/Relationship Manager of Midwest Independent BankersBank (MIB) and is an active member of the IBA.

Bankers Share Tips to Prevent Check Fraud This Holiday Season

11/20/2023

With check fraud surging across the nation, the Illinois Bankers Association (IBA) is sharing tips for consumers to protect themselves, and their bank accounts, from fraudulent activity this holiday season.

Illinois Bankers Association Honors Three Banking Legends with 50-Year Club Induction

11/6/2023

At the recent Midwest Bank Leaders Conference, the Illinois Bankers Association proudly celebrated the induction of three distinguished banking professionals, all from Metropolitan Capital Bank & Trust, into the ranks of the IBA's 50-Year Club.

Urge the Fed to Oppose Further Rate Caps on Debit Interchange

10/20/2023

The IBA is calling on Illinois bankers to contact the Fed and urge board members not to reopen the debit card rules in Regulation II. Following activism and litigation by the largest global merchants, the Federal Reserve announced this week that it will meet Wednesday to discuss "revisions" to debit card interchange caps due to the Durbin Amendment.

IBA Bankers Convene in Washington to Advocate for Industry Reforms

9/27/2023

Grassroots bankers recently descended on Washington for the Illinois Bankers Association’s first in-person legislative visit in three years! Dozens of bankers, both seasoned and newcomers, made the trip to Washington D.C. to represent the industry and be a voice for the needs of the banking community. 

Revised Illinois CRA Proposal Released

9/26/2023

The IDFPR has released a second draft of the Illinois Community Reinvestment Act rules.

IDFPR Announces New Director of Banking

9/21/2023

The Illinois Department of Financial and Professional Regulation ("IDFPR") announced today that Susana Soriano will serve as the next Director of Banking. Appointed by Governor JB Pritzker, Soriano previously served as the Deputy Director of Banking after joining the Department in October 2020. Her appointment is pending confirmation by the Illinois Senate.

IBA Announces New Board of Directors Chair and Members

8/11/2023

The Illinois Bankers Association (IBA) is proud to announce  new board leaders and members for 2023-2024, which will further enhance the association’s record of advocacy on behalf of banks across the state.

Voya Investment Management and the Illinois Bankers Association enter into a Preferred Vendor agreement

7/19/2023

Voya Investment Management, the asset management business of Voya Financial, Inc. (NYSE: VOYA), and the Illinois Bankers Association (IBA) announced today that they have entered into a commercial and industrial (C&I) loan growth partnership program known as the Voya Senior Loan Advisory Program.

IBA Elects 2023-2024 Board of Directors

6/26/2023

We salute the Illinois Bankers who have served or will be serving on the newly elected IBA Board of Directors.

IBA Names Jim Roolf, Old National Bank, as 2023 Banker of the Year

6/23/2023

The IBA proudly recognizes Jim Roolf, Senior Vice President and Corporate Relations Officer at Old National Bank as the 2023 Banker of the Year.

Illinois Banks Recognized for Outstanding Community Service

6/23/2023

The IBA has recognized three banks for their exceptional service to Illinois communities.

Illinois IBA and KeyState Renewables Announce the Launch of IBA|SOLCAP 2024 LMI Solar Tax Credit Fund

6/20/2023

The Illinois Bankers Association (IBA), through its subsidiary Illinois Bankers Business Services (IBBS), is partnering with KeyState Renewables (KeyState) to raise up to $75 million in solar tax equity capital from Illinois member banks. The capital will be deployed by KeyState in collaboration with an Illinois-based solar development partner to build 8-10 community solar projects throughout Illinois in 2024. These projects will primarily benefit low-to-moderate income (LMI) households in Illinois, reducing their annual electric bills by approximately 20-30%.

Illinois Bankers Association Announces 2023 Scholarship Recipients

5/30/2023

The Illinois Bankers Association is proud to announce the 2023 Illinois Bankers Scholarship and the Linda J. Koch Scholarship recipients.

IBA Nominating Committee Recommends Slate of Officers

5/12/2023

The IBA’s Nominating Committee is pleased to recommend an exceptional slate of Illinois bankers to serve on the Board of Directors for the term beginning June 23, 2023.

SIFMA Foundation’s National InvestWrite® Competition Winners Announced

5/9/2023

Illinois Fifth Grader Places Second Nationally, along with other Illinois award winners in the SIFMA Foundation’s National InvestWrite® Competition

IBA Announces Newest Preferred Vendor; Expands Insurance Offerings to Illinois Bankers

5/1/2023

Strengthening its commitment to providing comprehensive insurance solutions to Illinois bankers, the Illinois Bankers Business Services (IBBS) is excited to announce its newest Preferred Vendor partner, Banc Consulting Partners (BCP).

1 2