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HB 1504 (2022)

Establish "special purpose depository institutions," a kind of alternative bank

Summary:

Establishes and regulates "special purpose depository institutions," basically an alternative kind of bank. Among other requirements, these special purpose depository institutions would have to maintain unencumbered liquid assets valued at not less than 100% of its depository liabilities. Depositors would have to maintain accounts of at least $5,000.

Bill Sponsor:
Bill Became Law?:
No
Status:
HOUSE
Status Detail:
Killed in the House
Public Hearing Date:
01/12/2022 02:45 pm
Public Hearing Location:
LOB Room 302-304
House Voting Date:
02/16/2022

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