Summary of S. 7445

• Authorizes banks, trust companies, savings banks, and savings and loan associations to conduct business using remote deposit capture machines (automated machines that transmit check data to banking institutions for processing) subject to banking board regulations.

• Clarifies that capital impairment includes "deficient capital condition" when an institution's capital is insufficient given the extent and nature of its operations, and allows the superintendent to issue orders requiring institutions to remedy such deficiencies.

• Modifies reporting requirements by allowing the superintendent to designate reporting dates and determine report forms and content, rather than requiring fixed semiannual reports, and eliminates the requirement for annual legislative reporting on automated teller machine compliance.

• Expands criminal disqualifications for mortgage banker and mortgage broker licensure to include felonies involving fraud, dishonesty, breach of trust, or money laundering committed within the seven years preceding application, and applies these standards across multiple state and federal jurisdictions.

• Updates banking department bulletin requirements to allow publication on the department's website on flexible schedules rather than only weekly in print format.