• Winter Storm Watch - Click for Details
    ...WINTER STORM WATCH IN EFFECT FROM WEDNESDAY MORNING THROUGH LATE WEDNESDAY NIGHT...
    Effective: February 12, 2025 @ 6:00am
    Expires: February 13, 2025 @ 3:00am
    WHAT
    Heavy snow possible. Total snow accumulations between 6 and 8 inches possible.
    WHERE
    Portions of north central, northwest, and west central Illinois and east central, northeast, and southeast Iowa.
    WHEN
    From Wednesday morning through late Wednesday night.
    IMPACTS
    Travel could be very difficult. The hazardous conditions could impact the Wednesday morning and evening commutes.
    ADDITIONAL DETAILS
    North winds 10 to 15 mph, with gusts up 25 mph may cause some blowing and drifting snow, especially on east-west roads.
    PRECAUTIONARY/PREPAREDNESS ACTIONS
    Monitor the latest forecasts for updates on this situation.

Block Inc. Agrees to $80 Million Settlement Following Nationwide Regulatory Crackdown

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Illinois, alongside 47 other state financial regulators, has reached an $80 million settlement with Block, Inc., due to violations of the Bank Secrecy Act and anti-money laundering regulations. The settlement includes hiring an independent consultant to review and correct deficiencies within Block’s compliance programs. This action underscores the state’s commitment to maintaining the integrity of the financial sector and safeguarding consumer interests.

“This enforcement action demonstrates the Illinois Department of Financial and Professional Regulation’s (IDFPR) continued commitment to ensuring the integrity of the financial services industry and protecting consumers,” said IDFPR Secretary Mario Treto, Jr. “The Department will continue to take action, including collaborating with fellow regulators, to ensure compliance with all applicable laws.”

In the multistate settlement signed this week, Block agreed to pay a $80 million penalty to the state agencies, hire an independent consultant to review the comprehensiveness and effectiveness of its BSA/AML program and submit a report to the states within nine months. Block then will have 12 months to correct any deficiencies found in the review after the report is filed.

“IDFPR makes every effort to identify risks to the financial services industry and consumers,” said Division of Financial Instutitions Director Francisco Menchaca. “Protecting Illinois consumers is our top priority.”

Illinois residents who have questions about the enforcement action should visit the IDFPR Division of Financial Institutions website. Residents can also visit NMLS Consumer Access to verify that a company is licensed to do business in Illinois.

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