AB500: Provides for the licensure and regulation of payments banks. (BDR 55-999)
Legislative Summary
AN ACT relating to financial institutions; providing for the licensure and regulation by the Commissioner of Financial Institutions of payments banks; setting forth various procedures and requirements for the organization and licensure of payments banks; setting forth the powers and duties of the Commissioner with respect to payments banks; imposing various requirements and restrictions concerning the operation of payments banks; establishing certain prohibited acts relating to payments banks; revising certain provisions relating to financial institutions; providing penalties; and providing other matters properly relating thereto.
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Bill History
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