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| Illinois- Department of Financial and Professional Regulation |
On April 1, 2004 Governor Rod R. Blagojevich signed an Executive order consolidating the Departments of Financial Institutions, Professional Regulation, Insurance and the Office of Banks and Real Estate into the Illinois Department of Financial and Professional Regulation. The management and staff of this new agency are committed to improving access to services, streamlining delivery and leveraging best practices to better serve the citizens of the State of Illinois.
Use the following link to access their website for more current information.
http://www.idfpr.com/default.asp
Mission
The mission of the Division of Banks and Real Estate is to protect and educate the public and promote confidence in the regulated industries through administration of statutory responsibilities in an efficient, professional, responsive and innovative manner. The agency oversees the regulation and licensure of State chartered banks, trust companies, ATMs not owned by financial institutions, check printers, pawnbrokers, savings banks and savings and loan associations, mortgage bankers and brokers, real estate brokers and salespersons, appraisers, auctioneers, home inspectors, leasing agents, and time share companies.
Contact and Location Information
500 East Monroe Street
Springfield, Illinois 62701-1509
Main Phone Number: (217) 782-3000
Main Fax Number: (217) 558-4297
TDD: (217) 524-6644
310 South Michigan Avenue, Suite 2130
Chicago, Illinois 60604-4278
Main Phone Number: (312) 793-3000
Main Fax Number: (312) 793-7097
TDD: (312) 793-0291
Laws and Regulations
Use the following link to access current information on laws and regulations the division of banks is responsible for enforcing.
http://www.obre.state.il.us/LAWS/Laws.htm
The following are some examples of Illinois Compiled Statutes
- Executive Branch
- Financial Regulation
- Insurance
- Professions and Occupations
- Criminal Offenses
- Estates
- Trusts & Fiduciaries
- Property
- Commercial Code
- Business Transactions
Mortgage Brokers
The mission of the Bureau of Residential Finance is to fairly administer the Illinois Savings and Loan Act of 1985, the Savings Bank Act and the Residential Mortgage License Act of 1987 and the regulations promulgated hereunder.
Use the following link to access more current information on this bureau.
http://www.obre.state.il.us/resfin/resfin.htm
Complaints
Use the attached link for directions on how to file a complaint against a financial institution.
http://www.obre.state.il.us/resfin/resfin.htm
Identity Theft
When it comes to identity theft, the old adage applies, an ounce of prevention is worth a pound of cure. The following are useful tips and information for consumers to avoid identity theft:
- Be careful about giving out your personal information. Don’t give out any personal information over the phone unless you initiate the call;
- Pay attention to your billing cycles. If you don’t get your bills in the mail, be suspicious;
- Be cautious about where you leave your information. Think of your bills as cash, don’t leave them lying around;
- Guard your mail from theft. Be vigilant about checking your mail promptly after it has been delivered. Don’t let it pile up while you are away;
- Watch what you throw away. What may be garbage to you can be stolen treasure to an identity thief;
- Travel light. Don’t carry more checks or credit cards than you need. That will minimize the damage if your wallet is lost or stolen; and
- Check your credit report on a regular basis. Order a copy of your credit report from the three major credit reporting agencies at least once a year and make sure that the information they have is correct.
- The agencies are:
- Experian 1-800-397-3742
- Equifax 1-800-525-6285
- Trans Union 1-800-680-7289
If a consumer is a victim of Identity theft, he/she should:
- Contact creditors by phone and by certified mail;
- Stop payment on checks and close bank accounts;
- Contact the Department of Motor Vehicles and your local postal inspector;
- File a report with your local police department; and
- Call the FTC’s fraud hotline at 1-877-IDTHEFT.
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