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CT HB07148
Bill
Status
2/23/2017
Primary Sponsor
Banking Committee
Click for details
AI Summary
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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.
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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.
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New licensing requirement for check cashing licensees effective October 1, 2017 requires applicants to demonstrate their name is not likely to mislead consumers.
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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