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Financial Services Law Insights and Observations

Illinois extends closure of nonessential businesses

State Issues Covid-19 Illinois Bank Compliance

State Issues

On April 30, the governor of Illinois issued an executive order that continues a previous stay at home order. The order requires nonessential businesses activities and operations to cease, with limited exceptions, such as operating exclusively through employees working at their own residences. Essential businesses may remain open, but are required to evaluate whether employees can work from home, and are required to comply with social distancing and other health-related requirements while operating. A wide range of financial institutions and their affiliates are considered essential businesses. The order took effect on March 1.