Illinois bankers are constantly challenged with new laws, regulations, enforcement trends and other pressing compliance concerns. Now they have an exciting resource to help them — IBA Compliance Connection — a free website for all employees of IBA member banks that will quickly become your “go to” source for Illinois banking compliance information, guidance and support — each and every day!
What you will find on the IBA Compliance Connection
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IBA Compliance Connection® is a members-only benefit for members of the Illinois Bankers Association. For more information about the IBA and membership, please click here.
Check out our Minor Accounts Topic Page, which contains the laws and regulations banks should consider when opening an account held by a minor, such as the provisions in the Illinois Banking Act and Savings Bank Act permitting banks and savings banks to open deposit accounts for minors. You can download a sample Minor Deposit Account Agreement in our Forms Library.
Visit our Minor Accounts Resources Page for resources on opening accounts for minors, including the Interagency guidance and FAQs on youth savings programs.
Do you know whether your bank can limit non-custodial checking accounts to individuals fourteen years of age and older? To find out, visit our Minor Accounts Q&A Page, where we have answered dozens of related questions!