Ill. Admin. Code tit. 38 § 185.500

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

Section 185.500 - Enforcement

a) Any failure to comply with a requirement of the ILCRA, this Part or other law referenced in ILCRA or this Part shall be grounds for enforcement actions as authorized under the ILCRA and under the Act, as applicable to the particular credit union.

b) Any failure to comply with a requirement of the ILCRA may also be grounds for referral to law enforcement or administrative authority with jurisdiction over the subject matter.

c) In addition to any other action authorized by law, the Secretary may enter agreed upon orders, stipulations, or settlement agreements for the purpose of resolving any failure to comply.

d) Except as otherwise specified in this Illinois Community Reinvestment Act or this Part, enforcement and supervision related to this Part shall be conducted consistent with 205 ILCS 305/9 (3.5), 38 Ill. Adm. Code Section 190.25; and accompanying regulatory guidelines (Guidelines for Regulatory Scope, Clarity and Resolution of Examination Items) found on the Department's website.

Ill. Admin. Code tit. 38, § 185.500

Added at 48 Ill. Reg. 7004, effective 5/1/2024