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IDFPR Division of Financial Institutions

Chicago Attorneys Helping Financial Institutions With Licensure Issues

Chicago Attorneys For Professional LicensesThe Zimmerman Law Offices, P.C. has substantial experience with the Illinois Department of Financial and Professional Regulation (IDFPR) and can assist you, whether you are trying to gain banking or financial licensure or are in need of representation to defend your banking or financial license.

Authority of the Division of Financial Institutions

The IDFPR Division of Financial Institutions has the authority to regulate, license, examine and investigate currency exchanges, credit unions, consumer finance companies, title insurance companies and money transmitters. The Division of Financial Institutions provides licenses to non-bank financial institutions that provide consumer loans, finance retail purchases, rent safe deposit boxes, exchange foreign currency, issue negotiable instruments, and provide financial planning and management services.

The Division of Financial Institutions certifies, registers and regulates title insurance companies and their registered title agents that guarantee or insure titles to real estate in the state of Illinois. The Division of Financial Institutions is also responsible for regulating and supervising all Illinois state-chartered credit unions according to the Illinois Credit Union Act, and it has authority to license and regulate currency exchanges.

Strong Background in Banking and Financial Institutions

Since 1996, lawyers at the Zimmerman Law Offices, P.C. have represented Illinois professionals in the banking and financial industries. This is a complex area of the law. We have defended licensees in complex investigations, administrative hearings, and state and federal courts.

Attorney Thomas Zimmerman will clearly explain the law, helping clients with the complicated license application process and professional licensure defense.

Contact Us for Experienced Representation

The Zimmerman Law Offices provides experienced representation for clients applying for a license, or seeking defense against charges of ethics violations, fraud or professional misconduct. Contact us by e-mail or call 1-877-440-0020 to schedule a free initial consultation.


Collection Agency Accused of Operating Without a License

The Illinois Department of Financial and Professional Regulation (IDFPR) alleged that a collection agency was performing unauthorized debt collection without a state license. The collection agency applied for dual licensure in both the City of Chicago and State of Illinois. The City of Chicago issued a city collection agency license, but the IDFPR license application was delayed for a year. We demonstrated that the agency did not engage in any debt collection activity during the period that it did not have a state license; thus, it did not engage in any unlicensed practice even though it had been issued a city collection agency license. The IDFPR closed its investigation and issued a state license to the collection agency.


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