2023 State of Illinois Interest Rate is released

Late yesterday, January 3, 2023, the State of Illinois Department of Financial and Professional Regulation released its interest rates applicable to the Illinois Security Deposit Interest Act.

The press release from IDFPR can be found in the 2023 news section of their website.  Even in a time of increasing interest rates, it looks like we stand pat with the .01% that has prevailed for many prior years.  A copy of the release is attached below:

 

One question that still stands – where is the Chicago rate and more importantly, disclosure?

About Richard Magnone

Co-founding member of Reda | Ciprian | Magnone, LLC, attorney at law and Illinois licensed lawyer since 1996.
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