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Watch Illinois IDFPR IL Aug 1, 2026

Illinois proposed rules for Uniform Money Transmission Modernization Act

IDFPR proposed rules for 38 IAC 207 to implement the Uniform Money Transmission Modernization Act. The proposal was published in Illinois Register Issue 20 on May 15, 2026 and was still pending during the July 18 to August 1, 2026 timeframe.

IDFPR proposed rules for 38 IAC 207 to implement the Uniform Money Transmission Modernization Act. The proposal was published in Illinois Register Issue 20 on May 15, 2026 and was still pending during the July 18 to August 1, 2026 timeframe.

What changed

Illinois moved from statutory adoption toward implementing rule text for its money transmission modernization framework under Part 207.

Compliance perspective

Money transmitters should review the proposed rule for application standards, surety bond treatment, net worth, permissible investments, reporting, and multistate exam alignment. Firms expanding in Illinois should not rely on old assumptions while Part 207 is still taking shape.

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