Bill > H509

This bill makes several changes to the banking laws in Massachusetts. Key provisions include: - Updating references to sections of existing banking laws, such as replacing references to chapters 168, 170, and 172 with the new chapter 167J. - Allowing for the merger or consolidation of mutual banks, thrift institutions, and subsidiary banking institutions into a single subsidiary banking institution. - Providing more detailed provisions related to electronic branches and point-of-sale terminals operated by credit unions. - Amending the laws around high-cost home mortgage loans, including requiring certification from a counselor before making such loans. - Making various technical and conforming changes to other banking-related laws and regulations, such as those governing the Deposit Insurance Fund and Share Insurance Fund. Overall, this bill aims to modernize and streamline various aspects of the banking regulatory framework in Massachusetts.

Budget and Finance, Business and Industry

https://malegislature.gov/Bills/190/H509