Illinois HB 4474: BANKS-OVERDRAFT FEE BAN

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104TH GENERAL ASSEMBLY 
State of Illinois 
2025 and 2026
HB4474

Introduced 1/20/2026, by Rep. Hoan Huynh 

SYNOPSIS AS INTRODUCED:

205 ILCS 5/48

205 ILCS 205/9002 from Ch. 17, par. 7309-2

205 ILCS 305/8 from Ch. 17, par. 4409

720 ILCS 5/17-1b

810 ILCS 5/3-806 rep.

815 ILCS 205/4.1a from Ch. 17, par. 6406

 Amends the Illinois Banking Act, the Savings Bank Act, and the Illinois Credit Union Act. Directs the Secretary of Financial and Professional Regulation to adopt and enforce administrative rules that prohibit the imposition by a bank, savings bank, or credit union of charges in connection with (i) a check drawn or other written order upon, or electronic transfer sought to be effectuated against, insufficient funds or uncollected balances in a consumer account, whether or not the financial institution pays such check, written order, or electronic transfer or (ii) a check or other written order received by such an institution for deposit or collection drawn against a consumer account and subsequently dishonored and returned for any reason by the drawee. Amends the Uniform Commercial Code. Repeals a provision that authorizes the imposition of overdraft fees. Amends the Criminal Code of 2012 and the Interest Act to make conforming changes.

LRB104 14113 SPS 27245 b

A BILL FOR

HB4474LRB104 14113 SPS 27245 b

1 AN ACT concerning financial regulation.

2 Be it enacted by the People of the State of Illinois, 

3represented in the General Assembly:

4 Section 5. The Illinois Banking Act is amended by changing 

5Section 48 as follows:

6 (205 ILCS 5/48)

7 Sec. 48. Secretary's powers; duties. The Secretary shall 

8have the powers and authority, and is charged with the duties 

9and responsibilities designated in this Act, and a S