Bill > HB05213

This bill establishes a working group tasked with examining how financial institutions process payroll and how long it takes for payroll checks to be cashed or cleared. The working group will be convened by the chairpersons of the state's joint standing committee on banking and will include members from that committee, the Banking Commissioner, and representatives from both banks and credit unions. These chairpersons will also be responsible for appointing all members and scheduling the group's initial meeting within sixty days of the bill's passage. The working group members will then choose two co-chairpersons from among themselves, and the administrative staff of the banking committee will provide support. The group is required to submit a report of its findings and any recommendations to the banking committee by January 1, 2027, and will cease to exist on the date it submits this report or on January 1, 2027, whichever comes later.

Business and Industry

Banking Committee (Joint)

https://www.cga.ct.gov/asp/cgabillstatus/cgabillstatus.asp?selBillType=Bill&bill_num=HB05213&which_year=2026