Illinois Department of Financial and Professional Regulation
State Government: Agencies/Departments/Divisions | Business Regulation
Recent News About Illinois Department of Financial and Professional Regulation
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Illinois Department of Financial and Professional Regulation Releases March 2024 Enforcement Report
The Illinois Department of Financial and Professional Regulation (IDFPR) has published its enforcement report for March 2024. The report was signed by key officials including Acting Director of Banking, Susana Soriano, Director of Financial Institutions, Francisco Menchaca, Acting Director of Professional Regulation, Camile Lindsay, and Director of Real Estate, Laurie Murphy.The enforcement actions detailed in the report reflect the regulatory efforts undertaken by the IDFPR in various sectors. Each official played a crucial role in overseeing and implementing these...
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Illinois orders Sigue Corp. to halt money services amid financial troubles
The Illinois Department of Financial and Professional Regulation (IDFPR) has ordered Sigue Corp. to stop providing money transmission services in the state due to its financial decline. This decision aligns with actions taken by 38 other states, Puerto Rico, and the District of Columbia after Sigue failed to meet its outstanding money transmission liabilities, breaching state law.
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Cannabis sales rise steadily through first quarter of 2024
Adult-use cannabis sales in March 2024 reached significant figures, according to the latest data. The total sales for the month amounted to $148,872,065.12. This includes $114,458,207.57 from in-state residents and $34,413,857.54 from out-of-state residents.
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Illinois Department announces February 2024 enforcement actions
The Illinois Department of Financial and Professional Regulation (IDFPR) has released its enforcement report for February 2024. The report was signed by several key officials, including Acting Director of Banking Susana Soriano, Director of Financial Institutions Francisco Menchaca, Acting Director of Professional Regulation Camile Lindsay, and Director of Real Estate Laurie Murphy.
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State regulators urge federal action on student loan repayment issues
The Illinois Department of Financial and Professional Regulation (IDFPR) has sent a letter to President Biden and Secretary Cardona addressing concerns about the resumption of federal student loan repayments. This marks the first time in three years that over 40 million borrowers have had to resume payments.
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Cannabis sales for February 2024 see slight increase from January
The February 2024 sales figures for adult-use cannabis have been released, revealing a slight increase in total sales compared to the previous month. The data shows that 3,636,925 items were sold in February, generating $135,571,931.44 in total sales. This marks an increase from January's total of $133,787,753.89.
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Illinois announces January 2024 enforcement actions
The Illinois Department of Financial and Professional Regulation (IDFPR) has disclosed enforcement actions undertaken in January 2024. The announcement was made by Francisco Menchaca, Director of Financial Institutions; Camile Lindsay, Acting Director of Professional Regulation; and Laurie Murphy, Director of Real Estate.
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Cannabis sales increase in January 2024 compared to previous year
The adult-use cannabis sales figures for January 2024 have been released. According to the data, a total of 3,551,727 items were sold. The sales from in-state residents amounted to $104,048,656.70, while out-of-state resident sales reached $29,739,097.19. This resulted in a combined total of $133,787,753.89 for the month.
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Illinois regulators announce December 2023 enforcement actions
The Illinois Department of Financial and Professional Regulation (IDFPR) has disclosed the enforcement actions taken in December 2023. The announcement was made by Francisco Menchaca, Director of Financial Institutions; Camile Lindsay, Acting Director of Professional Regulation; and Laurie Murphy, Director of Real Estate.
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Illinois cannabis sales reach over $1.6 billion in 2023
The Illinois Department of Financial and Professional Regulation (IDFPR) has reported that adult-use cannabis sales in the state reached a new high in 2023, surpassing $1.6 billion. This marks the third consecutive year of record-setting growth for cannabis sales in Illinois.
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Illinois bank reports low interest rates on savings accounts
The Illinois Department of Financial and Professional Regulation, Division of Banking has released information regarding the interest rate for savings accounts. As of December 31, 2023, the largest commercial bank in Illinois reported an interest rate of 0.005% on minimum deposit savings accounts. The Annual Percentage Yield (APY) associated with this rate is noted to be 0.01%.