Requires Department of Banking and Insurance to examine and rate lending institutions with regards to lending, investments, and services provided to low- and moderate-income consumers.

Summary

The bill directs the Department of Banking and Insurance to assess banks, savings banks, credit unions and mortgage companies on how well they provide credit, deposit and other financial products to low‑ and moderate‑income consumers and underserved neighborhoods. It creates a rating system based on each institution’s community‑benefits plan and performance in defined assessment areas. The aim is to ensure lenders meet community needs while staying safe and sound.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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