Bill > H844

This bill makes several changes to banking laws and regulations in the Commonwealth. It removes language that specifically regulated corporations licensed to make small loans, simplifying that provision to refer only to the Commonwealth. The bill also repeals Section 96A of Chapter 140 of the General Laws, and removes specific paragraphs and sentences from various sections of Chapters 167, 171, and 183 of the General Laws, which are likely related to the operational rules and oversight of financial institutions. Notably, it adds a provision allowing credit unions and federal credit unions to consolidate with each other, requiring compliance with existing state laws for credit unions and federal law for federal credit unions. Finally, it updates a reference in Chapter 171 from the "Office of Thrift Supervision" to the "office of the comptroller of the currency," reflecting a change in federal regulatory bodies.