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CT HB07148

Bill

Status

Introduced

2/23/2017

Primary Sponsor

Banking Committee

Click for details

Origin

House of Representatives

2017 General Assembly

AI Summary

  • Banking Commissioner must conduct a study of methods to improve access to Connecticut's banking system and report findings to the joint standing committee on banking by January 1, 2018.

  • Check cashing licensees are prohibited from using business names likely to cause consumers to reasonably believe the applicant is endorsed by or affiliated with the state.

  • New licensing requirement for check cashing licensees effective October 1, 2017 requires applicants to demonstrate their name is not likely to mislead consumers.

  • Existing liquid asset requirements for check cashing licensees remain unchanged at $10,000 per general facility location and $2,500 per limited facility location.

Legislative Description

An Act Concerning A Study To Increase Access To Connecticut's Banking System And Prohibiting Check Cashing Licensees From Using Names Likely To Mislead Consumers.

Last Action

Public Hearing 03/02

2/24/2017

Committee Referrals

Banking2/23/2017

Full Bill Text

No bill text available