CT HB07180

Modifies application abandonment procedures for financial institution licenses by clarifying that applicants have 60 days after receiving a request to submit required information before an application is deemed abandoned.

Establishes that abandoned application filing fees are non-refundable and applicants may resubmit new applications after abandonment.

Applies standardized abandonment procedures across multiple banking license categories: mortgage lenders, sales finance companies, pawn brokers, and loan brokers under sections 36a-489, 36a-537, 36a-581, and 36a-719.

Authorizes the banking commissioner to conduct criminal history records checks and obtain fingerprints and credit reports from applicants, control persons, qualified individuals, and branch managers.

Clarifies the definition of "loan broker" to specify exclusions for licensed entities such as banks, credit unions, mortgage lenders, securities brokers, and insurance companies acting within their regulatory scope.

Effective date: October 1, 2019 for all sections.