Bill > HB2345

This bill clarifies certain terminology and expands the powers of the Commissioner of Financial Institutions in regulating money transmitters in Hawaii. Specifically, it updates the definition of the security device (e.g., bond) required for money transmitters to cover the receipt, handling, transmission, and payment of "money or monetary value." It also outlines additional powers granted to the Commissioner, such as issuing declaratory rulings, conducting investigations and hearings, revoking or suspending licenses, and reporting violations to federal agencies. The bill aims to provide the Commissioner with more tools to administer and enforce the state's money transmitters act.

Budget and Finance, Business and Industry

https://www.capitol.hawaii.gov/measure_indiv.aspx?billtype=HB&billnumber=2345&year=2018