HB3559

Illinois HB3559 establishes the Reentry Financial Empowerment Act to provide no-fee, federally insured debit accounts to reentering citizens.

HB3559, the Reentry Financial Empowerment Act, mandates the Department of Financial and Professional Regulation to oversee the Illinois Reentry Account program. This program offers no-fee, federally insured debit accounts to individuals released from Illinois correctional facilities within the last 12 months. The accounts feature no monthly maintenance fees, overdraft fees, or minimum balance requirements, along with access to a network of ATMs, secure debit cards, and online and mobile banking options.