State joins New York, federal laws that waive requirement for on-screen and physical notice of fees.
On Aug. 16, Illinois Gov. Pat Quinn signed into law H.B. 1572, which amends the state’s Credit Union Act to establish a fair and consistent civil penalty assessment process.
Credit is from settlement over fees paid as a result of ex-Gov. Rd Blagojevich’s fee escalation and transfer scheme in 2004-2006.
Court decision provides administrative windfall.
For the second year in a row, Illinois credit unions will enjoy a holiday boost to their bottom line.