Illinois Bankers Association

Illinois Bankers Association

Banks Classified as “Essential Business” in Governor Pritzker’s Executive Order in Response to COVID-19

Governor Pritzker has issued an Executive Order in Response to the COVID-19 pandemic. The Executive Order classifies financial institutions as “Essential Businesses and Operations.” This includes: “Banks, currency exchanges, consumer lenders, including but not limited, to payday lenders, pawnbrokers, consumer installment lenders and sales finance lenders, credit unions, appraisers, title companies, financial markets, trading and futures exchanges, affiliates of financial institutions, entities that issue bonds, related financial institutions, and institutions selling financial products.”

Regarding employee travel, the order clearly permits any travel related to any essential businesses and operations, which includes banks and all of the financial entities listed above. Additionally, we have confirmed with numerous government officials over the last few hours that no special paperwork, letters or other documents are necessary for employees to travel under this exception.

The IBA has worked diligently over the past 48 hours to ensure that both the State of Illinois and the City of Chicago would consider banks as essential service providers, and we are pleased with this result.

“We applaud Governor Pritzker’s decision in his statewide mandate for shelter in place to designate banking as an essential service. Illinois banks stand ready to ensure that our citizens may continue to access crucial financial services during this trying time,” observed Linda Koch, President and CEO of the Illinois Bankers Association.

Watch our Coronavirus (COVID-19) Information webpage for updates.

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