MA H1104

Allows state and municipal treasurers to deposit public funds through FDIC-insured banking institutions that can redeposit funds across multiple banks nationwide, provided full principal and interest remain FDIC-insured

Permits financial institutions to postpone annual meetings during governor-declared states of emergency, with meetings to be held within 60 days of emergency termination; allows virtual or hybrid meetings during emergencies

Establishes regulations on "core processors" (data processing vendors for banks), prohibiting contracts exceeding 5 years without upgrade commitments, excessive termination penalties, undisclosed fees for institutions accessing their own data, and retaliatory audits

Allows limited purpose trust companies to organize as corporations, LLCs, or other legal entities; gives bank directors flexibility to elect or select officers beyond mandatory positions

Updates high-cost home mortgage loan regulations to align with federal standards at 12 CFR 1026.32(a)(1), requires pre-loan counseling certification, and removes the previous cap of 5% or $800 on certain fees