summary
Introduced
06/13/2019
06/13/2019
In Committee
06/13/2019
06/13/2019
Crossed Over
Passed
Dead
12/31/2020
12/31/2020
Introduced Session
191st General Court
Bill Summary
For legislation to establish a low income checking account access program. Financial Services.
AI Summary
This bill aims to establish a Low Income Checking Account Access Fund and program to increase access for low-income individuals to checking accounts with credit unions in Massachusetts. The fund will be funded by 50% of application and licensure fees collected from check cashers and money transmitters, as well as any public and private donations. The state treasurer and receiver general will administer the program and promulgate rules and regulations to implement it. Additionally, the bill increases the annual license fees for check cashers and money transmitters to at least $2,200 and $2,000 respectively.
Committee Categories
Business and Industry
Sponsors (4)
Last Action
Accompanied a study order, see H5160 (on 12/01/2020)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://malegislature.gov/Bills/191/H3876 |
| Bill | https://malegislature.gov/Bills/191/H3876.pdf |
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