Read second time and amended. Re-referred to Com. on APPR.
Summary
The bill orders the state’s Department of Financial Protection and Innovation to examine banks, credit unions and mortgage lenders at least every four years for violations of federal and state nondiscrimination laws. It also creates a rating system and penalties for institutions that fail to meet community‑investment obligations, and can block those institutions from receiving state deposits or contracts. The aim is to ensure low‑ and moderate‑income neighborhoods and communities of color have adequate access to financial services.
AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.
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