Illinois Department Of Financial And Professional Regualtion
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Choosing a hat: Proposal seeks to ease home closing costs by rewriting rules for IL lawyers who sell title insurance
A new legislative proposal would force real estate lawyers in Illinois who also serve as title insurance agents to 'choose which hat they will wear' in a home sale transaction, in a bid to reduce the typical closing costs paid by Illinois homeowners, and bring those costs more in line with the national average. But the proposal has drawn fire from lawyers and their associations, accusing supporters of the bill of unfairly 'scapegoating' lawyers for Illinois' relatively more expensive title insurance costs. -
Some lawsuit lenders are voluntarily registering under Consumer Installment Loan Act
While Illinois legislators haven't been able to agree on how to regulate the lawsuit lending industry, some companies conducting business in the state have turned to a voluntary registration program before legislation requires they do so. -
Illinois' professional regulator relinquishes state's grip on mobile payment processor Square
SPRINGFIELD – Chief financial regulator Bryan Schneider welcomes mobile payment businesses that the previous administration treated like criminals.