IDFPR February 2025 Enforcement Actions

The Illinois Department of Financial and Professional Regulation (IDFPR) has released its February 2025 enforcement actions, detailing disciplinary measures against 30 entities across its banking, financial institutions, and currency exchange divisions. Notably, UMortgage, LLC had its license suspended and was fined for operating a branch without proper licensing and improper trade name use. CLS Mortgage, Inc. entered a consent order for Anti-Predatory Lending Database and Residential Mortgage License Act violations. Numerous other entities, including mortgage lenders, consumer credit companies, and currency exchanges, entered consent orders or settlements primarily for late renewal payments under various state acts.

These actions highlight the IDFPR's ongoing oversight of regulated financial entities within Illinois. Companies are reminded of their obligations to maintain proper licensing, adhere to lending regulations, and ensure timely renewal payments. Failure to comply can result in license suspension, fines, and other disciplinary actions. Regulated entities should review the specific violations cited to ensure their own practices align with state requirements and to avoid similar enforcement actions.