Amends the Illinois Community Reinvestment Act. Provides that the Secretary of Financial and Professional Regulation shall retain qualified persons to design and conduct one or more disparity studies to prepare and report findings and conclusions to the Secretary to: (1) identify and delineate geographies in Illinois exhibiting significant disparities by protected characteristics with respect to: access to financial products or services, including, but not limited to, physical branches of covered financial institutions; and lending and investments by covered financial institutions; and (2) identify policies, procedures, patterns, or practices that have or may have disparate impact or discriminatory effects. Provides that the Secretary shall implement the findings, conclusions, and other results from the study into the examination process as detailed in rule. Provides that the Secretary shall update the disparity studies at least every 4 years, but may require it to be updated more frequently at the Secretary's discretion. Provides that the Secretary may use specified fees to pay for the disparity studies, as necessary. Defines the term "protected characteristic". Effective immediately. Senate Committee Amendment No. 1 Provides that the Secretary of Financial and Professional Regulation shall implement the findings, conclusions, and other results of the study into the examination process through rules adopted in accordance with the Illinois Administrative Procedure Act. Senate Floor Amendment No. 4 Adds reference to: 30 ILCS 574/40-10 Replaces everything after the enacting clause. Amends the Illinois Community Reinvestment Act. Requires the Commission on Equity and Inclusion to conduct studies to: (1) identify and delineate geographies in Illinois exhibiting significant disparities by protected classes as identified by the Human Rights Act with respect to access to financial products or services and lending and investments by covered financial institutions; (2) identify policies, procedures, patterns, or practices that have or may have a disparate impact or discriminatory effect; and (3) identify opportunities for establishing and growing Banking Development Districts in geographic locations where there are the greatest underbanked and unbanked populations and opportunities for partnerships between depository institutions and local communities. Authorizes the Secretary of Financial and Professional Regulation to implement the findings and other results from such studies into the examination process through rules adopted in accordance with the Illinois Administrative Procedure Act. Provides that any costs incurred by the Commission in conducting such studies shall be subject to appropriation. Directs the Commission to provide reports of its findings and furnish copies of the reports to the General Assembly and the Secretary. Requires the results of every study performed under the Act to be publicly available on the websites of the Commission and the Department of Financial and Professional Regulation. Provides that the Commission may contract with a qualified person or entity to design and conduct the studies. Amends the Commission on Equity and Inclusion Act. Provides that the Commission is responsible for completing those studies under the Illinois Community Reinvestment Act. Effective January 1, 2025. Senate Floor Amendment No. 5 Provides that costs incurred by the Commission on Equity and Inclusion in conducting the studies required under the amendatory Act shall not be funded by the examination fees paid by covered financial institutions.