Yes, we believe that the DMV facility’s interpretation of Illinois law is correct. The Illinois Vehicle Code requires banks holding deposits from a Driver License Exam Station (i.e., a DMV facility) to forward such funds to the State Treasurer twice a month. The Code does not permit a bank to withhold charges for fees before forwarding such funds. Consequently, we do not believe that a bank may impose service charges or fees on a DMV facility’s deposit account.

For resources related to our guidance, please see:

• Illinois Vehicle Code, 625 ILCS 5/2-126 (“Employees and agents of the Secretary of State, designated by him, who are employed at Drivers License Exam Stations throughout the State are authorized to deposit, on a temporary basis, fees and moneys collected at such stations in banks or savings and loan associations designated by the Secretary of State. Provided, however, that when such funds collected amount to $500 or more, or on the next succeeding 1st or 15th (disregarding Sundays and holidays) day of each month, whichever is earlier, such fees and moneys shall be forwarded to the Secretary of State by such designated banks or savings and loan associations for deposit with the State Treasurer. . . .”)