Current through Register Vol. 48, No. 50, December 13, 2024
Section 346.60 - Reporting RequirementsThe local government applicant and the depository institution shall submit a report of the operations of the banking development district to the Secretary and the Treasurer each year on the anniversary of the banking development district being approved by the Secretary. Each report shall provide the following information:
a) an identification of each new product or service specifically designed for the banking development district community to address the needs for banking services identified in the application to create the banking development district;b) the number of customers residing in the banking development district who are first-time consumers of the new banking services;c) the number of customers for each specific type of banking services including, but not limited to, check cashing services, low-cost checking accounts, money transfer services or any other such program created or designed to address the needs for banking services as identified herein;d) a description of each educational program or service provided, including, but not limited to, an identification of the local government employee, depository institution employee, CBO employee or consultant who provided the educational program, the frequency of the program being held and the number of persons attending each program;e) a description of the mechanisms employed by the local government and the depository institution to evaluate the success of the banking development district in meeting the identified unmet needs for banking services along with a description of intended changes to more thoroughly meet the unmet needs for banking services in the banking development district; andf) copies of all reports, memoranda, correspondence or analyses prepared by or received by the banking development district which evaluate, comment upon or otherwise discuss the banking development district's activities to address the unmet banking needs within the banking development district.Ill. Admin. Code tit. 38, § 346.60
Added at 48 Ill. Reg. 12263, effective 8/2/2024