On July 31, 2013, the Third District Appellate Court held that a bank does not owe a common law duty of reasonable care when processing a fraudulent check.
Does a bank owe a fiduciary duty to depositors? Do usury laws put a cap on the interest rates banks can charge? Learn the often surprising answers to these and other banking-law questions.
What if the bank won't accept your client's valid POA for property? Might six jurors be better than 12 for your DUI trial? Here's what other lawyers think, based on Qs and As gleaned from ISBA discussion groups.
The Illinois Department of Financial and Professional Regulation (the "Department") recently adopted amendments that authorize state chartered banks and state chartered savings banks to engage in derivative transactions. 38 Ill. Adm. Code 330.
Illinois lawmakers have amended the State Comptroller Act to require state agencies to use direct deposits in making payments to its employees and some vendors. (15 ILCS 405/9.03)
The amended rule forbids non-interest bearing pooled accounts, imposes new recordkeeping requirements, and obliges banks to report trust-account overdrafts.
On November 10, 2005, the Illinois Appellate Court, First District, affirmed the decision of the Circuit Court of Cook County, granting summary judgment for defendant EquiCredit Corp of America.
On June 25, 2003, the Appellate Court of Illinois, First District, affirmed the orders of the Circuit Court of Cook County entering judgment against MidAmerica Bank (MidAmerica) and in favor of Clean World Engineering, Ltd. (Clean World), and granting the third-party defendant's, TCF Bank Illinois (TCF),motion for summary judgment against MidAmerica.
On May 17, 2001, the Illinois Office of Banks and Real Estate (office) adopted a new provision to section 345 of the Illinois Administrative Code. 38 Ill Adm Code 345.
On December 15, 2000, the Illinois Office of Banks and Real Estate (OBRE) adopted emergency rules and amendments to sections 345, 1000, and 1050 of the Illinois Administrative Code.
On July 28, 2000, the Illinois Office of Banks and Real Estate adopted new sections to section 325 of the Illinois Administrative Code. 38 Ill Adm Code 325.
Public Act 91-698, which became effective when signed on May 6, is designed to protect Illinois consumers from predatory lenders by authorizing the Department of Financial Institutions and the Office of Banks and Real Estate to promulgate rules regulatin regulating the activities of lenders they license.
On October 21, 1999, the Seventh Circuit of the United States Court of Appeals affirmed the judgment of the bankruptcy court that the plaintiff, Michael Rovell.
