{
 "jurisdiction_id": "US-IL",
 "jurisdiction": "United States – Illinois",
 "url": "https://payments.gi/jurisdictions/united-states-illinois/",
 "generator": "render_jid v13.3.0",
 "date_modified": "2026-08-11",
 "schema_version": "world-payments-v1",
 "counts": {
  "modules": 14,
  "sourced_findings": 64,
  "source_register": 127
 },
 "modules": [
  {
   "code": "W1a",
   "name": "Licensing, Authorisation & Market Access",
   "confidence": "Confirmed",
   "moved_this_cycle": false,
   "url": "https://payments.gi/jurisdictions/united-states-illinois/#w1a-licensing-authorisation-market-access",
   "standing_position": "Illinois money transmission is governed by the Uniform Money Transmission Modernization Act (205 ILCS 658), effective Jan 1, 2026, with substantially raised surety-bond/net-worth thresholds and a payroll-processing safe harbor.",
   "findings": [
    {
     "finding": null,
     "instrument_type": "statute",
     "source": "https://legalclarity.org/illinois-money-transmitter-license-process-compliance-guide/",
     "source_url": "https://legalclarity.org/illinois-money-transmitter-license-process-compliance-guide/",
     "source_tier": "2",
     "retrieved_at": "2026-07-04"
    },
    {
     "finding": null,
     "instrument_type": "regulator_page",
     "source": "https://idfpr.illinois.gov/dfi/ced/ced-main.html",
     "source_url": "https://legalclarity.org/illinois-money-transmitter-license-process-compliance-guide/",
     "source_tier": "1",
     "retrieved_at": "2026-07-04"
    },
    {
     "finding": null,
     "instrument_type": "statute",
     "source": "https://legalclarity.org/illinois-money-transmitter-license-process-compliance-guide/",
     "source_url": "https://legalclarity.org/illinois-money-transmitter-license-process-compliance-guide/",
     "source_tier": "2",
     "retrieved_at": "2026-07-04"
    },
    {
     "finding": null,
     "instrument_type": "legislative_notice",
     "source": "https://idfpr.illinois.gov/thehub.html",
     "source_url": "https://legalclarity.org/illinois-money-transmitter-license-process-compliance-guide/",
     "source_tier": "1",
     "retrieved_at": "2026-07-04"
    },
    {
     "finding": null,
     "instrument_type": "statute",
     "source": "https://www.consumerfinancialserviceslawmonitor.com/2025/08/illinois-passes-new-laws-designed-to-safeguard-consumers-against-cryptocurrency-fraud/",
     "source_url": "https://legalclarity.org/illinois-money-transmitter-license-process-compliance-guide/",
     "source_tier": "3",
     "retrieved_at": "2026-07-04"
    },
    {
     "finding": null,
     "instrument_type": "federal_overlay",
     "source": "https://legalclarity.org/illinois-money-transmitter-license-process-compliance-guide/",
     "source_url": "https://legalclarity.org/illinois-money-transmitter-license-process-compliance-guide/",
     "source_tier": "2",
     "retrieved_at": "2026-07-04"
    }
   ]
  },
  {
   "code": "W1b",
   "name": "Conduct, Safeguarding & Financial Promotions",
   "confidence": "Confirmed",
   "moved_this_cycle": false,
   "url": "https://payments.gi/jurisdictions/united-states-illinois/#w1b-conduct-safeguarding-financial-promotions",
   "standing_position": "IDFPR's conduct and safeguarding framework combines a Dodd-Frank-styled Consumer Financial Protection Law giving IDFPR UDAAP-style enforcement powers over unlicensed and licensed financial-services providers, with DACPA-specific customer-asset-safeguard, disclosure, and kiosk-fee-cap rules for digital asset businesses layered on top of the traditional currency-exchange/money-transmitter bonding regime.",
   "findings": [
    {
     "finding": null,
     "instrument_type": "statute",
     "source": "https://idfpr.illinois.gov/news/2023/idfpr-announces-landmark-legislation-to-launch-illinois-consumer.html",
     "source_url": "https://idfpr.illinois.gov/news/2023/idfpr-announces-landmark-legislation-to-launch-illinois-consumer.html",
     "source_tier": "1",
     "retrieved_at": "2026-07-04"
    },
    {
     "finding": null,
     "instrument_type": "statute",
     "source": "https://www.consumerfinancialserviceslawmonitor.com/2025/08/illinois-passes-new-laws-designed-to-safeguard-consumers-against-cryptocurrency-fraud/",
     "source_url": "https://www.consumerfinancialserviceslawmonitor.com/2025/08/illinois-passes-new-laws-designed-to-safeguard-consumers-against-cryptocurrency-fraud/",
     "source_tier": "3",
     "retrieved_at": "2026-07-04"
    },
    {
     "finding": null,
     "instrument_type": "statute",
     "source": "https://www.consumerfinancialserviceslawmonitor.com/2025/08/illinois-passes-new-laws-designed-to-safeguard-consumers-against-cryptocurrency-fraud/",
     "source_url": "https://www.consumerfinancialserviceslawmonitor.com/2025/08/illinois-passes-new-laws-designed-to-safeguard-consumers-against-cryptocurrency-fraud/",
     "source_tier": "3",
     "retrieved_at": "2026-07-04"
    },
    {
     "finding": null,
     "instrument_type": "regulator_guidance",
     "source": "https://idfpr.illinois.gov/about/brochures/dfibrochures/currency-exchange-section.html",
     "source_url": "https://www.consumerfinancialserviceslawmonitor.com/2025/08/illinois-passes-new-laws-designed-to-safeguard-consumers-against-cryptocurrency-fraud/",
     "source_tier": "1",
     "retrieved_at": "2026-07-04"
    },
    {
     "finding": null,
     "instrument_type": "regulator_notice",
     "source": "https://idfpr.illinois.gov/banking.html",
     "source_url": "https://www.consumerfinancialserviceslawmonitor.com/2025/08/illinois-passes-new-laws-designed-to-safeguard-consumers-against-cryptocurrency-fraud/",
     "source_tier": "1",
     "retrieved_at": "2026-07-04"
    }
   ]
  },
  {
   "code": "W2",
   "name": "Stablecoins & Digital Money",
   "confidence": "Confirmed",
   "moved_this_cycle": false,
   "url": "https://payments.gi/jurisdictions/united-states-illinois/#w2-stablecoins-digital-money",
   "standing_position": "Illinois has moved from a 2023 legislative proposal to an enacted, IDFPR-supervised digital-asset regime under DACPA (2025), which restricts stablecoin storage/trading to FDIC-insured-issuer or fully-reserved-issuer tokens, opens a Special Purpose Trust Company custody pathway, and sits alongside a newly enacted (2026) 0.2% state-level digital-asset transaction tax that runs in parallel to the federal GENIUS Act stablecoin framework.",
   "findings": [
    {
     "finding": null,
     "instrument_type": "statute",
     "source": "https://blockworks.co/news/is-illinois-the-next-new-york-inside-the-new-il-crypto-bill",
     "source_url": "https://blockworks.co/news/is-illinois-the-next-new-york-inside-the-new-il-crypto-bill",
     "source_tier": "3",
     "retrieved_at": "2026-07-04"
    },
    {
     "finding": null,
     "instrument_type": "statute",
     "source": "https://www.mayerbrown.com/en/insights/publications/2025/09/illinois-adopts-regulatory-regime-for-digital-assets",
     "source_url": "https://www.kucoin.com/news/flash/illinois-imposes-0-2-crypto-transaction-tax-despite-federal-framework",
     "source_tier": "2",
     "retrieved_at": "2026-07-04"
    },
    {
     "finding": null,
     "instrument_type": "statute",
     "source": "https://www.kucoin.com/news/flash/illinois-imposes-0-2-crypto-transaction-tax-despite-federal-framework",
     "source_url": "https://www.kucoin.com/news/flash/illinois-imposes-0-2-crypto-transaction-tax-despite-federal-framework",
     "source_tier": "3",
     "retrieved_at": "2026-07-04"
    },
    {
     "finding": null,
     "instrument_type": "federal_overlay",
     "source": "https://www.kucoin.com/news/flash/illinois-imposes-0-2-crypto-transaction-tax-despite-federal-framework",
     "source_url": "https://www.kucoin.com/news/flash/illinois-imposes-0-2-crypto-transaction-tax-despite-federal-framework",
     "source_tier": "3",
     "retrieved_at": "2026-07-04"
    },
    {
     "finding": null,
     "instrument_type": "statute",
     "source": "https://www.morganlewis.com/pubs/2023/04/illinois-proposes-bitlicense-regime-and-other-digital-asset-laws",
     "source_url": "https://www.kucoin.com/news/flash/illinois-imposes-0-2-crypto-transaction-tax-despite-federal-framework",
     "source_tier": "2",
     "retrieved_at": "2026-07-04"
    }
   ]
  },
  {
   "code": "W3",
   "name": "Operational Resilience & Critical Infrastructure",
   "confidence": "Confirmed",
   "moved_this_cycle": false,
   "url": "https://payments.gi/jurisdictions/united-states-illinois/#w3-operational-resilience-critical-infrastructure",
   "standing_position": "Illinois operational resilience obligations for payments-adjacent entities run through IDFPR's Division of Banking IT-examination authority for state-chartered institutions and, since 2025, through DACPA's explicit cybersecurity/business-continuity mandate for digital asset businesses; a January 2025 multistate cybersecurity enforcement action against a nonbank servicer shows active supervisory teeth on this front even absent a dedicated standalone operational-resilience statute.",
   "findings": [
    {
     "finding": null,
     "instrument_type": "statute",
     "source": "https://www.innreg.com/blog/illinois-digital-assets-and-consumer-protection-act",
     "source_url": "https://www.innreg.com/blog/illinois-digital-assets-and-consumer-protection-act",
     "source_tier": "3",
     "retrieved_at": "2026-07-04"
    },
    {
     "finding": null,
     "instrument_type": "enforcement_action",
     "source": "https://idfpr.illinois.gov/news/2025/il-joins-states-levying-20-million-penalty-jan-2025.html",
     "source_url": "https://idfpr.illinois.gov/news/2025/il-joins-states-levying-20-million-penalty-jan-2025.html",
     "source_tier": "1",
     "retrieved_at": "2026-07-04"
    },
    {
     "finding": null,
     "instrument_type": "regulator_statement",
     "source": "https://idfpr.illinois.gov/news/2025/il-joins-states-levying-20-million-penalty-jan-2025.html",
     "source_url": "https://idfpr.illinois.gov/news/2025/il-joins-states-levying-20-million-penalty-jan-2025.html",
     "source_tier": "1",
     "retrieved_at": "2026-07-04"
    },
    {
     "finding": null,
     "instrument_type": "regulator_page",
     "source": "https://idfpr.illinois.gov/banks/cbt.html",
     "source_url": "https://idfpr.illinois.gov/news/2025/il-joins-states-levying-20-million-penalty-jan-2025.html",
     "source_tier": "1",
     "retrieved_at": "2026-07-04"
    }
   ]
  },
  {
   "code": "W4",
   "name": "Scheme & Network Compliance",
   "confidence": "Confirmed",
   "moved_this_cycle": false,
   "url": "https://payments.gi/jurisdictions/united-states-illinois/#w4-scheme-network-compliance",
   "standing_position": "Illinois is the site of the first-in-the-world state law restricting card-scheme interchange fee collection on tax and gratuity amounts (the Interchange Fee Prohibition Act), a law that has been substantially litigated, partly upheld by the district court, and then subjected to an OCC federal-preemption order in 2026 covering national banks and federal savings associations ahead of its July 1, 2026 effective date.",
   "findings": [
    {
     "finding": null,
     "instrument_type": "statute",
     "source": "https://www.aba.com/advocacy/policy-analysis/illinois-interchange-fee-prohibition-act-ruling",
     "source_url": "https://www.aba.com/advocacy/policy-analysis/illinois-interchange-fee-prohibition-act-ruling",
     "source_tier": "2",
     "retrieved_at": "2026-07-04"
    },
    {
     "finding": null,
     "instrument_type": "court_ruling",
     "source": "https://winthrop.com/bold-perspectives/judge-upholds-illinois-laws-interchange-fee-restrictions-strikes-down-data-usage-limitation/",
     "source_url": "https://www.federalregister.gov/documents/2026/04/29/2026-08341/order-preempting-the-illinois-interchange-fee-prohibition-act",
     "source_tier": "2",
     "retrieved_at": "2026-07-04"
    },
    {
     "finding": null,
     "instrument_type": "federal_order",
     "source": "https://www.federalregister.gov/documents/2026/04/29/2026-08341/order-preempting-the-illinois-interchange-fee-prohibition-act",
     "source_url": "https://www.federalregister.gov/documents/2026/04/29/2026-08341/order-preempting-the-illinois-interchange-fee-prohibition-act",
     "source_tier": "1",
     "retrieved_at": "2026-07-04"
    },
    {
     "finding": null,
     "instrument_type": "litigation_status",
     "source": "https://capitolnewsillinois.com/news/fate-of-illinois-first-in-the-nation-credit-card-swipe-fee-ban-awaits-judges-ruling/",
     "source_url": "https://www.federalregister.gov/documents/2026/04/29/2026-08341/order-preempting-the-illinois-interchange-fee-prohibition-act",
     "source_tier": "3",
     "retrieved_at": "2026-07-04"
    },
    {
     "finding": null,
     "instrument_type": "policy_analysis",
     "source": "https://laweconcenter.org/resources/regulating-state-interchange-fees-evaluating-the-likely-effects-of-the-ifpa/",
     "source_url": "https://www.federalregister.gov/documents/2026/04/29/2026-08341/order-preempting-the-illinois-interchange-fee-prohibition-act",
     "source_tier": "3",
     "retrieved_at": "2026-07-04"
    }
   ]
  },
  {
   "code": "W5",
   "name": "Payment Corridor Dynamics",
   "confidence": "High",
   "moved_this_cycle": false,
   "url": "https://payments.gi/jurisdictions/united-states-illinois/#w5-payment-corridor-dynamics",
   "standing_position": "Illinois payment-corridor exposure runs through Chicago-headquartered federal settlement infrastructure (the Federal Reserve Bank of Chicago operating Fedwire and supporting FedNow) and through Chicago-based cross-border remittance providers; dedicated state-level corridor regulation beyond the money-transmitter licensing regime for cross-border remitters (W1a) was not separately located and is recorded as absent-field provenance pending periodic-run confirmation.",
   "findings": [
    {
     "finding": null,
     "instrument_type": "regulator_page",
     "source": "https://www.chicagofed.org/",
     "source_url": "https://www.chicagofed.org/",
     "source_tier": "1",
     "retrieved_at": "2026-07-04"
    },
    {
     "finding": null,
     "instrument_type": "infrastructure",
     "source": "https://www.frbservices.org/financial-services/wires",
     "source_url": "https://www.aciworldwide.com/fednow",
     "source_tier": "1",
     "retrieved_at": "2026-07-04"
    },
    {
     "finding": null,
     "instrument_type": "market_data",
     "source": "https://www.builtinchicago.org/companies/type/payments-companies/reputation/stability-growth",
     "source_url": "https://www.aciworldwide.com/fednow",
     "source_tier": "3",
     "retrieved_at": "2026-07-04"
    },
    {
     "finding": null,
     "instrument_type": "infrastructure",
     "source": "https://www.aciworldwide.com/fednow",
     "source_url": "https://www.aciworldwide.com/fednow",
     "source_tier": "2",
     "retrieved_at": "2026-07-04"
    }
   ]
  },
  {
   "code": "W6",
   "name": "Industry Structure & Commercial Dynamics",
   "confidence": "High",
   "moved_this_cycle": false,
   "url": "https://payments.gi/jurisdictions/united-states-illinois/#w6-industry-structure-commercial-dynamics",
   "standing_position": "Illinois' payments/fintech industry structure is anchored by Chicago as a major national fintech hub (723 active fintech companies, $12B cumulative funding, several unicorns) alongside legacy card-network incumbent Discover Financial Services (now merged into Capital One) headquartered in Riverwoods, giving the state both a deep trading/financial-infrastructure talent base and a large card-issuer/network commercial footprint.",
   "findings": [
    {
     "finding": null,
     "instrument_type": "market_data",
     "source": "https://tracxn.com/d/explore/fintech-startups-in-chicago-united-states/__JXH0sKQFjjYV9TfzUVuhLHpNLp9GEDoadVpyeVVKJo0",
     "source_url": "https://tracxn.com/d/explore/fintech-startups-in-chicago-united-states/__JXH0sKQFjjYV9TfzUVuhLHpNLp9GEDoadVpyeVVKJo0",
     "source_tier": "3",
     "retrieved_at": "2026-07-04"
    },
    {
     "finding": null,
     "instrument_type": "market_data",
     "source": "https://tracxn.com/d/explore/fintech-startups-in-chicago-united-states/__JXH0sKQFjjYV9TfzUVuhLHpNLp9GEDoadVpyeVVKJo0",
     "source_url": "https://pitchbook.com/profiles/company/13316-95",
     "source_tier": "3",
     "retrieved_at": "2026-07-04"
    },
    {
     "finding": null,
     "instrument_type": "market_data",
     "source": "https://www.ellty.com/blog/chicago-fintech-investors",
     "source_url": "https://pitchbook.com/profiles/company/13316-95",
     "source_tier": "3",
     "retrieved_at": "2026-07-04"
    },
    {
     "finding": null,
     "instrument_type": "company_profile",
     "source": "https://pitchbook.com/profiles/company/13316-95",
     "source_url": "https://pitchbook.com/profiles/company/13316-95",
     "source_tier": "3",
     "retrieved_at": "2026-07-04"
    }
   ]
  },
  {
   "code": "W7",
   "name": "Legal & Litigation",
   "confidence": "Confirmed",
   "moved_this_cycle": false,
   "url": "https://payments.gi/jurisdictions/united-states-illinois/#w7-legal-litigation",
   "standing_position": "Illinois payments-adjacent litigation is dominated by two live fronts: the Biometric Information Privacy Act (BIPA) class-action wave, now reshaped by a 2024 damages-cap amendment applied retroactively by the Seventh Circuit in April 2026, and the ongoing multi-front challenge to the Interchange Fee Prohibition Act, now compounded by a 2026 OCC federal-preemption order.",
   "findings": [
    {
     "finding": null,
     "instrument_type": "court_ruling",
     "source": "https://www.hunton.com/privacy-and-cybersecurity-law-blog/illinois-damages-limitation-for-biometric-privacy-violations-applies-retroactively",
     "source_url": "https://www.hunton.com/privacy-and-cybersecurity-law-blog/illinois-damages-limitation-for-biometric-privacy-violations-applies-retroactively",
     "source_tier": "3",
     "retrieved_at": "2026-07-04"
    },
    {
     "finding": null,
     "instrument_type": "litigation_status",
     "source": "https://www.dorsey.com/newsresources/publications/client-alerts/2026/6/bipa-financial-institution-exemption",
     "source_url": "https://www.dorsey.com/newsresources/publications/client-alerts/2026/6/bipa-financial-institution-exemption",
     "source_tier": "2",
     "retrieved_at": "2026-07-04"
    },
    {
     "finding": null,
     "instrument_type": "statute",
     "source": "https://www.americanbar.org/groups/business_law/resources/business-law-today/2026-may/7th-circuit-holds-bipa-damages-remedy-applies-retroactively/",
     "source_url": "https://www.dorsey.com/newsresources/publications/client-alerts/2026/6/bipa-financial-institution-exemption",
     "source_tier": "2",
     "retrieved_at": "2026-07-04"
    },
    {
     "finding": null,
     "instrument_type": "litigation_status",
     "source": "https://laweconcenter.org/resources/regulating-state-interchange-fees-evaluating-the-likely-effects-of-the-ifpa/",
     "source_url": "https://www.dorsey.com/newsresources/publications/client-alerts/2026/6/bipa-financial-institution-exemption",
     "source_tier": "3",
     "retrieved_at": "2026-07-04"
    },
    {
     "finding": null,
     "instrument_type": "litigation_history",
     "source": "https://www.commerciallitigationupdate.com/biometric-backlash-the-rising-wave-of-litigation-under-bipa-and-beyond",
     "source_url": "https://www.dorsey.com/newsresources/publications/client-alerts/2026/6/bipa-financial-institution-exemption",
     "source_tier": "3",
     "retrieved_at": "2026-07-04"
    }
   ]
  },
  {
   "code": "W8",
   "name": "Merchant Acquiring & Risk",
   "confidence": "Confirmed",
   "moved_this_cycle": false,
   "url": "https://payments.gi/jurisdictions/united-states-illinois/#w8-merchant-acquiring-risk",
   "standing_position": "Illinois merchant-acquiring dynamics were reshaped by the May 2025 completion of Capital One's acquisition of Riverwoods-based Discover Financial Services (merging Discover Bank into Capital One, National Association), which consolidates a major card-network/acquirer relationship into a non-Illinois-headquartered entity, while the pending Interchange Fee Prohibition Act imposes new documentation and refund-processing burdens directly on acquirers and issuers operating in the state.",
   "findings": [
    {
     "finding": null,
     "instrument_type": "ma_event",
     "source": "https://www.arnoldporter.com/en/perspectives/advisories/2025/06/bank-regulators-approval-of-capital-one-and-discover-deal",
     "source_url": "https://www.arnoldporter.com/en/perspectives/advisories/2025/06/bank-regulators-approval-of-capital-one-and-discover-deal",
     "source_tier": "2",
     "retrieved_at": "2026-07-04"
    },
    {
     "finding": null,
     "instrument_type": "market_structure",
     "source": "https://www.aba.com/advocacy/policy-analysis/illinois-interchange-fee-prohibition-act-ruling",
     "source_url": "https://winthrop.com/bold-perspectives/judge-upholds-illinois-laws-interchange-fee-restrictions-strikes-down-data-usage-limitation/",
     "source_tier": "2",
     "retrieved_at": "2026-07-04"
    },
    {
     "finding": null,
     "instrument_type": "compliance_obligation",
     "source": "https://winthrop.com/bold-perspectives/judge-upholds-illinois-laws-interchange-fee-restrictions-strikes-down-data-usage-limitation/",
     "source_url": "https://winthrop.com/bold-perspectives/judge-upholds-illinois-laws-interchange-fee-restrictions-strikes-down-data-usage-limitation/",
     "source_tier": "2",
     "retrieved_at": "2026-07-04"
    },
    {
     "finding": null,
     "instrument_type": "market_event",
     "source": "https://www.gmtoday.com/business/capital-one-layoffs-hitting-former-discover-headquarters-in-illinois/article_440a1315-a34e-4b80-b94e-353806f9e3a8.html",
     "source_url": "https://winthrop.com/bold-perspectives/judge-upholds-illinois-laws-interchange-fee-restrictions-strikes-down-data-usage-limitation/",
     "source_tier": "3",
     "retrieved_at": "2026-07-04"
    }
   ]
  },
  {
   "code": "W9",
   "name": "Product Innovation & Market Development",
   "confidence": "High",
   "moved_this_cycle": false,
   "url": "https://payments.gi/jurisdictions/united-states-illinois/#w9-product-innovation-market-development",
   "standing_position": "Illinois product innovation in payments centers on the state's 2025 digital-asset regulatory build-out (DACPA covered-exchange and SPTC custody pathways, plus the Digital Asset Kiosks Act) and on Illinois banks' growing participation in the Federal Reserve's FedNow instant-payments infrastructure, positioning Illinois alongside New York, California, and Louisiana as a state with a comprehensive crypto licensing framework.",
   "findings": [
    {
     "finding": null,
     "instrument_type": "statute",
     "source": "https://natlawreview.com/article/state-level-digital-asset-licensing-what-watch-we-head-2026",
     "source_url": "https://natlawreview.com/article/state-level-digital-asset-licensing-what-watch-we-head-2026",
     "source_tier": "3",
     "retrieved_at": "2026-07-04"
    },
    {
     "finding": null,
     "instrument_type": "statute",
     "source": "https://www.mayerbrown.com/en/insights/publications/2025/09/illinois-adopts-regulatory-regime-for-digital-assets",
     "source_url": "https://www.frbservices.org/financial-services/fednow/about.html",
     "source_tier": "2",
     "retrieved_at": "2026-07-04"
    },
    {
     "finding": null,
     "instrument_type": "infrastructure",
     "source": "https://www.frbservices.org/financial-services/fednow/about.html",
     "source_url": "https://www.frbservices.org/financial-services/fednow/about.html",
     "source_tier": "1",
     "retrieved_at": "2026-07-04"
    },
    {
     "finding": null,
     "instrument_type": "regulator_statement",
     "source": "https://blockworks.co/news/is-illinois-the-next-new-york-inside-the-new-il-crypto-bill",
     "source_url": "https://www.frbservices.org/financial-services/fednow/about.html",
     "source_tier": "3",
     "retrieved_at": "2026-07-04"
    }
   ]
  },
  {
   "code": "W10",
   "name": "Consumer Protection & APP Fraud",
   "confidence": "Confirmed",
   "moved_this_cycle": false,
   "url": "https://payments.gi/jurisdictions/united-states-illinois/#w10-consumer-protection-app-fraud",
   "standing_position": "Illinois consumer protection in payments/credit rests on the Predatory Loan Prevention Act's 36% APR cap (in force since March 2021) plus new DACPA/Digital Asset Kiosk Act consumer safeguards enacted in 2025 targeting crypto-fraud losses, which the Governor's office linked to $272 million in FBI-reported Illinois crypto fraud losses in 2024; dedicated APP (authorised-push-payment) reimbursement rules specific to bank transfers were not located and are recorded as absent-field provenance.",
   "findings": [
    {
     "finding": null,
     "instrument_type": "statute",
     "source": "https://illinoisattorneygeneral.gov/consumer-protection/finance-and-credit/",
     "source_url": "https://woodstockinst.org/predatory-lending/plpa-is-working/",
     "source_tier": "1",
     "retrieved_at": "2026-07-04"
    },
    {
     "finding": null,
     "instrument_type": "statute",
     "source": "https://www.consumerfinancialserviceslawmonitor.com/2025/08/illinois-passes-new-laws-designed-to-safeguard-consumers-against-cryptocurrency-fraud/",
     "source_url": "https://www.consumerfinancialserviceslawmonitor.com/2025/08/illinois-passes-new-laws-designed-to-safeguard-consumers-against-cryptocurrency-fraud/",
     "source_tier": "3",
     "retrieved_at": "2026-07-04"
    },
    {
     "finding": null,
     "instrument_type": "statute",
     "source": "https://www.consumerfinancialserviceslawmonitor.com/2025/08/illinois-passes-new-laws-designed-to-safeguard-consumers-against-cryptocurrency-fraud/",
     "source_url": "https://www.consumerfinancialserviceslawmonitor.com/2025/08/illinois-passes-new-laws-designed-to-safeguard-consumers-against-cryptocurrency-fraud/",
     "source_tier": "3",
     "retrieved_at": "2026-07-04"
    },
    {
     "finding": null,
     "instrument_type": "policy_analysis",
     "source": "https://woodstockinst.org/predatory-lending/plpa-is-working/",
     "source_url": "https://www.consumerfinancialserviceslawmonitor.com/2025/08/illinois-passes-new-laws-designed-to-safeguard-consumers-against-cryptocurrency-fraud/",
     "source_tier": "3",
     "retrieved_at": "2026-07-04"
    },
    {
     "finding": null,
     "instrument_type": "regulator_channel",
     "source": "https://idfpr.illinois.gov/admin/banks/complaintinfo.html",
     "source_url": "https://www.consumerfinancialserviceslawmonitor.com/2025/08/illinois-passes-new-laws-designed-to-safeguard-consumers-against-cryptocurrency-fraud/",
     "source_tier": "1",
     "retrieved_at": "2026-07-04"
    }
   ]
  },
  {
   "code": "W11",
   "name": "AML/CFT & Financial Crime",
   "confidence": "Confirmed",
   "moved_this_cycle": false,
   "url": "https://payments.gi/jurisdictions/united-states-illinois/#w11-aml-cft-financial-crime",
   "standing_position": "Sentinel.gi payments-context position: Illinois participates as an active member of the 47-48-state multistate BSA/AML supervisory bloc for money transmitters and mobile-payment services, most visibly demonstrated by the January 2025 $80 million multistate enforcement action against Block, Inc.'s Cash App, and state regulators collectively remain the primary licensing supervisor for the more than 700 money transmitters operating under the Money Transmission Modernization Act model.",
   "findings": [
    {
     "finding": null,
     "instrument_type": "enforcement_detail",
     "source": "sentinel.https://www.pymnts.com/news/regulation/2025/block-to-pay-80-million-to-settle-aml-violation-allegations/",
     "source_url": null,
     "source_tier": "3",
     "retrieved_at": null
    },
    {
     "finding": "Illinois AML/CTF oversight sits atop the federal BSA/OFAC framework: the Illinois Department of Financial and Professional Regulation (IDFPR) licenses currency exchanges and money transmitters under the Transmitters of Money Act and Currency Exchange Act, and shares OFAC-compliance findings with Treasury under a standing MOU. Chicago hosts a globally significant derivatives complex (CME Group) under CFTC jurisdiction and the nation's highest concentration of crypto ATM kiosks, both federally supervised with limited state-specific AML overlay; no Illinois-specific virtual-currency licensing regime is yet enacted.",
     "instrument_type": "assessment",
     "source": "FIM (sentinel.gi) per-JID baseline profile — United States — Illinois",
     "source_url": null,
     "source_tier": null,
     "retrieved_at": null
    },
    {
     "finding": "Gap: regulatory-failure",
     "instrument_type": "gap",
     "source": "FIM (sentinel.gi) gaps_register_cumulative (issue FIM-BASE-GAP-002)",
     "source_url": null,
     "source_tier": null,
     "retrieved_at": null
    },
    {
     "finding": "Enforcement: Commodity Futures Trading Commission (CFTC) — State of Illinois officials, including Governor JB Pritzker, Illinois Attorney General, and Illinois Gaming Board",
     "instrument_type": "enforcement_action",
     "source": "FIM (sentinel.gi) enforcement_action_register (issue FIM-BASE-ENF-004)",
     "source_url": null,
     "source_tier": "2",
     "retrieved_at": null
    },
    {
     "finding": "Gap: enforcement-absence",
     "instrument_type": "gap",
     "source": "FIM (sentinel.gi) gaps_register_cumulative (issue FIM-BASE-GAP-001)",
     "source_url": null,
     "source_tier": null,
     "retrieved_at": null
    },
    {
     "finding": "Gap: legal-gap",
     "instrument_type": "gap",
     "source": "FIM (sentinel.gi) gaps_register_cumulative (issue FIM-BASE-GAP-003)",
     "source_url": null,
     "source_tier": null,
     "retrieved_at": null
    }
   ]
  },
  {
   "code": "W12",
   "name": "Correspondent Banking, Settlement & Access",
   "confidence": "High",
   "moved_this_cycle": false,
   "url": "https://payments.gi/jurisdictions/united-states-illinois/#w12-correspondent-banking-settlement-access",
   "standing_position": "Illinois settlement access runs through the Federal Reserve Bank of Chicago's operation of Fedwire (large-value RTGS) and the FedNow instant-payments service, which explicitly supports correspondent/respondent settlement arrangements for smaller institutions lacking direct Fed master accounts; IDFPR's Division of Banking charters the state banks that hold or access these Fed accounts.",
   "findings": [
    {
     "finding": null,
     "instrument_type": "infrastructure",
     "source": "https://www.frbservices.org/financial-services/wires",
     "source_url": "https://www.frbservices.org/financial-services/wires",
     "source_tier": "1",
     "retrieved_at": "2026-07-04"
    },
    {
     "finding": null,
     "instrument_type": "infrastructure",
     "source": "https://www.aciworldwide.com/fednow",
     "source_url": "https://www.forvismazars.us/forsights/2025/12/federal-reserve-banks-payment-system-updates-fedwire-nss",
     "source_tier": "2",
     "retrieved_at": "2026-07-04"
    },
    {
     "finding": null,
     "instrument_type": "infrastructure_update",
     "source": "https://www.forvismazars.us/forsights/2025/12/federal-reserve-banks-payment-system-updates-fedwire-nss",
     "source_url": "https://www.forvismazars.us/forsights/2025/12/federal-reserve-banks-payment-system-updates-fedwire-nss",
     "source_tier": "2",
     "retrieved_at": "2026-07-04"
    },
    {
     "finding": null,
     "instrument_type": "regulator_page",
     "source": "https://idfpr.illinois.gov/banks/cbt.html",
     "source_url": "https://www.forvismazars.us/forsights/2025/12/federal-reserve-banks-payment-system-updates-fedwire-nss",
     "source_tier": "1",
     "retrieved_at": "2026-07-04"
    }
   ]
  },
  {
   "code": "W13",
   "name": "Commercial Intelligence & Fintech",
   "confidence": "High",
   "moved_this_cycle": false,
   "url": "https://payments.gi/jurisdictions/united-states-illinois/#w13-commercial-intelligence-fintech",
   "standing_position": "The dominant trailing-window commercial event remains the integration fallout from Capital One's $35 billion acquisition of Riverwoods-based Discover Financial Services (closed May 2025), including a ~600-employee layoff round at the former Discover campus in late 2025, set against a broader backdrop of resilient Chicago fintech venture funding through 2025-2026.",
   "findings": [
    {
     "finding": null,
     "instrument_type": "commercial_event",
     "source": "https://www.gmtoday.com/business/capital-one-layoffs-hitting-former-discover-headquarters-in-illinois/article_440a1315-a34e-4b80-b94e-353806f9e3a8.html",
     "source_url": "https://www.arnoldporter.com/en/perspectives/advisories/2025/06/bank-regulators-approval-of-capital-one-and-discover-deal",
     "source_tier": "3",
     "retrieved_at": "2026-07-04"
    },
    {
     "finding": null,
     "instrument_type": "commercial_event",
     "source": "https://www.arnoldporter.com/en/perspectives/advisories/2025/06/bank-regulators-approval-of-capital-one-and-discover-deal",
     "source_url": "https://www.gmtoday.com/business/capital-one-layoffs-hitting-former-discover-headquarters-in-illinois/article_440a1315-a34e-4b80-b94e-353806f9e3a8.html",
     "source_tier": "2",
     "retrieved_at": "2026-07-04"
    },
    {
     "finding": null,
     "instrument_type": "market_data",
     "source": "https://tracxn.com/d/explore/fintech-startups-in-chicago-united-states/__JXH0sKQFjjYV9TfzUVuhLHpNLp9GEDoadVpyeVVKJo0",
     "source_url": "https://www.gmtoday.com/business/capital-one-layoffs-hitting-former-discover-headquarters-in-illinois/article_440a1315-a34e-4b80-b94e-353806f9e3a8.html",
     "source_tier": "3",
     "retrieved_at": "2026-07-04"
    }
   ]
  }
 ]
}