No, we are not aware of laws or regulations that would prohibit such a fee. Generally, Illinois law permits a bank to determine appropriate fees for deposit accounts in accordance with the bank’s prudent business judgment and safe and sound operating standards, provided that your customer has agreed to the charge in a deposit account agreement or signature card. 

For resources related to our guidance, please see:

• 205 ILCS 5/5e(b) (“The establishment of account service charges and the amounts of the charges not otherwise limited or prescribed by law is a business decision to be made by a bank according to prudent business judgment and safe and sound operating standards. . . .”)