CT SB00303

Connecticut banks and credit unions must offer secured credit cards to their customers and members, effective October 1, 2026

Secured credit cards are defined as credit card accounts where the customer provides funds to the financial institution as security for the credit extended

Financial institutions issuing secured credit cards must make account information available to the account holder

Account information must also be made available to any third party authorized by the account holder for the purpose of reporting to credit rating agencies