SB438Introduced in the Senate
Provides for the licensure and regulation of merchant acquirer limited purpose banks. (BDR 55-974)
Introduced by Commerce and Labor
What does this bill do?
Plain-English breakdown
Writing a plain-English summary of this bill… this can take a few seconds the first time.
Official description
AN ACT relating to financial institutions; providing for the licensure and regulation by the Commissioner of Financial Institutions of merchant acquirer limited purpose banks; setting forth various procedures and requirements for the organization and licensure of merchant acquirer limited purpose banks; setting forth the powers and duties of the Commissioner with respect to merchant acquirer limited purpose banks; imposing various requirements and restrictions concerning the operation of merchant acquirer limited purpose banks; establishing certain prohibited acts relating to merchant acquirer limited purpose banks; revising certain provisions relating to financial institutions; providing penalties; and providing other matters properly relating thereto.
Where it stands
(Pursuant to Joint Standing Rule No. 14.3.1, no further action allowed.)
April 12, 2025
How did lawmakers vote?
No recorded vote is available for this bill yet.
What do people think?
Citizen Voice
How would you vote on this bill?
An unofficial public opinion poll. It does not affect the bill or the official vote.
One response per device. Location is self-reported and not verified. Results are informal and not a scientific survey.
Bill history
Read first time. Referred to Committee on Commerce and Labor. To printer.
From printer. To committee.
(Pursuant to Joint Standing Rule No. 14.3.1, no further action allowed.)
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