Bill > H1177

This bill modifies an existing law regarding banking regulations by requiring banks to include specific additional information in their reports. Specifically, the bill amends section 13 of chapter 167 of the General Laws by mandating that banks' reports now incorporate two key elements: (1) goals outlined in their strategic plan, and (2) their most recent rating from the commissioner as specified under 209 CMR 46.00 (a Massachusetts regulation likely related to community reinvestment). The addition of this requirement suggests an intent to increase transparency about banks' strategic objectives and performance in serving their local communities, potentially allowing for better oversight and assessment of banks' community reinvestment efforts.

Business and Industry

https://malegislature.gov/Bills/194/H1177