WeVote
Log In

Bill

Bill

H 1273

An Act establishing uniform enforcement and confidentiality provisions relative to certain licensees under the jurisdiction of the Division of Banks

194th Legislature (2025-2026) Introduced by Jamie Murphy

Overview: H 1273 - An Act establishing uniform enforcement and confidentiality provisions relative to certain licensees under the jurisdiction of the Division of BanksPurpose and I

Bill reported favorably by committee and referred to the committee on House Ways and Means
0
WeVote Research Nonpartisan
Bill Summary · H 1273

Overview: H 1273 - An Act establishing uniform enforcement and confidentiality provisions relative to certain licensees under the jurisdiction of the Division of Banks
Purpose and Intent: This bill aims to establish consistent enforcement and confidentiality provisions for certain financial institutions and licensees regulated by the Division of Banks.
Key Provisions:
- Grants the Division of Banks the authority to take enforcement actions, such as issuing cease and desist orders, against non-depository institutions and licensees
- Requires the Division to maintain the confidentiality of information obtained during examinations and investigations of these entities
- Provides for the sharing of confidential information with other state and federal regulatory agencies for supervisory purposes
Affected Parties and Impacts:
- Non-depository financial institutions and licensees, such as mortgage lenders and money transmitters, who will be subject to the Division's enhanced enforcement powers
- Consumers who interact with these regulated entities, as the bill aims to strengthen oversight and consumer protections
- The Division of Banks, which will have clearer authority and processes for supervising and enforcing regulations
Procedural and Timeline Considerations:
- The bill is currently scheduled for a hearing on 10/07/2025 from 10:30 AM-01:10 PM in A-2, with an updated end time
- After the hearing, the bill will proceed through the legislative process for potential passage and enactment.

Compiled from official sources — confirm details with the bill’s official record.

Sign in to ask a question.