AN ACT REVISING VARIOUS PROVISIONS RELATING TO CERTAIN APPROVALS BY THE BANKING COMMISSIONER AND CONNECTICUT BANK BRANCH APPLICATIONS.

Summary

The measure adds new conditions for the Banking Commissioner to approve certain bank transactions, especially when a bank’s community‑reinvestment rating is below “outstanding.” It also creates a streamlined, five‑business‑day approval window for branch applications after public notice, unless the commissioner raises specific concerns. The changes aim to protect low‑income communities while reducing bureaucratic delays.

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