Illinois Financial Services Development Act: Yes, this law applies to banks.

Consumer Installment Loan Act: No, this law does not apply to banks. 205 ILCS 670/21.

Interest Act: Some but not all of the provisions in this law apply to banks. For example, Section 4 states that “it is lawful for a state bank or a branch of an out-of-state bank . . . to receive or to contract to receive and collect interest and charge at any rate or rates agreed upon by the bank or branch and the borrower.” 815 ILCS 205/4. Each provision must be analyzed separately to determine whether it would apply to a bank.

Illinois Credit Union Act: No, this law does not apply to banks.