Ill. Admin. Code tit. 38 § 125.80

Current through Register Vol. 48, No. 45, November 8, 2024

Section 125.80 - Prohibition Against Charging More than Posted Fees

a) Prohibition

No community or ambulatory currency exchange may charge fees in excess of those posted pursuant to 38 Ill. Adm. Code 120 of the Rules of the State of Illinois, Department of Financial Institutions, Currency Exchange Division.

b) Sanctions

1) The Director shall impose a fine up to $100 per violation or suspension as authorized by Section 15 of the Currency Exchange Act if he finds that any community or ambulatory currency exchange has violated paragraph (a) of this Section.

2) For the first and second violations within a twelve month period the amount of the fine will be determined by the duration of the violation and the compliance history of the currency exchange.

3) Any ambulatory or community currency exchange found to be charging more than the posted fees three times within the same twelve month period shall have its license suspended.

Ill. Admin. Code tit. 38, § 125.80

Amended at 9 Ill. Reg. 12284, effective July 30, 1985