CT HB05502

Expands the definition of "Connecticut credit union service organization" to include organizations wholly-owned by a credit union that converted into a Connecticut credit union pursuant to section 36a-469b, effective October 1, 2018.

Requires Connecticut credit unions proposing to close a credit union service organization to submit written notice to the Banking Commissioner at least 30 days prior to closing, including detailed reasons for the decision.

Authorizes the Banking Commissioner to require uninsured banks and trust banks to pay a fee in lieu of the standard pro rata assessment if the commissioner determines the assessment is unreasonably low or high based on the bank's size and risk profile.

Requires uninsured banks to pay the actual cost of examinations conducted by the Banking Commissioner in addition to any fee in lieu of assessment.

Modifies the approval criteria for establishing a Connecticut bank by removing specific factors (population, adequacy of existing facilities) from mandatory consideration and instead requiring the approving authority to evaluate whether the public interest will be served, considering the proposed business plan and competitive/market impact factors.