No, the Residential Mortgage License Act of 1987 does not apply to banks. Banks and their employees are exempt from all provisions of the Act, including its advertising requirements.

For resources related to our guidance, please see:

• Illinois Residential Mortgage License Act of 1987, 205 ILCS 635/1-3(a) (“No provision of this Act shall apply to an exempt person or entity as defined in items (1) and (1.5) of subsection (d) of Section 1-4 of this Act.”)

• Illinois Residential Mortgage License Act of 1987, 205 ILCS 635/1-4(d)(1.5) (“‘Exempt person or entity’ shall mean the following: (1) . . . any national bank, federally chartered savings and loan association, federal savings bank, federal credit union; . . . any bank, savings and loan association, savings bank, or credit union organized under the laws of this or any other state; . . .”)

• Illinois Residential Mortgage License Act of 1987, 205 ILCS 635/1-4(d)(1.5) (“Any employee of a person or entity mentioned in item (1) of this subsection, when acting for such person or entity, or any registered mortgage loan originator when acting for an entity described in subsection (tt) of this Section.”)