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Pawnbrokers, Check Printers, & ATMs
The Division of Banking also registers check printers, non-financial institution deployers of Automated Teller Machines, and licensing pawnbrokers that operate in Illinois.
Modernizing the Pawnbroker Regulation Act of 2023
On March 22, 2024, Governor Pritzker signed into law Public Act 103-0585, which provides important consumer protections, including setting new financing rate caps on pawn transactions, requiring additional disclosures and display of fees. Public Act 103-0585 also institutes new licensing and examination provisions and fees, clarifies the process for handling of pawns of allegedly stolen property, and mandates annual training of pawnbroker employees, subject to Department rules. The full text of the law is available here.
Please note that IDFPR cannot provide legal advice. However, the Department’s Division of Banking is planning to disseminate informational updates to its licensees in the coming weeks. In the meantime, a pawnbroker should contact the Pawnbroker Section at 847-294-4940 with non-legal questions. A pawnbroker may submit a request that conforms to the Division’s Statement on Interpretive Letters, available here.
Pawnbroker License Information
Responsible Pawnbroker Training
Pawnbroker Information
ATM Registration and Check Printer Requirements Have Changed
The Electronic Fund Transfer Act was amended to repeal the requirement for all non-bank ATM owners to register terminals in Illinois with the Division of Banking. For more information, please click here.
The Check Printer and Check Number Act was repealed, eliminating the requirement for registrations to be filed with the Division of Banking. For more information, please click here.