CT HB05213

Establishes a working group convened by the Banking Committee chairpersons to study payroll processing methods used by financial institutions and the time required for payroll checks to clear

Working group membership includes Banking Committee chairpersons and ranking members (or designees), the Banking Commissioner (or designee), one bank representative, and one credit union representative

First meeting must be held within 60 days of the bill's effective date, with members selecting two cochairpersons from among themselves

Report on findings and recommendations due to the Banking Committee by January 1, 2027

Working group terminates upon submitting its report or January 1, 2027, whichever is later