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Panel moves bill to require banks to use calendar days when producing financial records
Summary
House Bill 91, which would change the statutory timeframe banks use to produce financial records from "business days" to "calendar days" to simplify compliance calculations, was moved favorable by the committee after industry testimony that calendar days are easier to compute.
The Louisiana House Committee on Commerce voted to report House Bill 91 favorably after industry witnesses told lawmakers the change would simplify compliance for banks.
Representative Thomas, the bill sponsor, described the measure as a one-word change: converting a statutory deadline calculated in "business days" to one measured in "calendar days." "It is what we are asking for is to have this be counted as a calendar day, not a business day," Thomas said.
David Bonino, speaking for the Louisiana Bankers Association, told the committee that calendar days are simpler for compliance because banks would not need to subtract weekends and holidays when calculating statutory deadlines. "It's a lot easier to calculate calendar days versus business days," Bonino said.
Committee members asked why banks sought shorter or clearer time calculations; Bonino answered that the change is primarily a compliance simplification rather than an attempt to reduce consumer protections. At the appropriate time, a committee member moved to report House Bill 91 favorable; there was no recorded objection and the bill was moved favorable from committee.
The bill was presented with green cards from banking industry representatives, and committee members indicated support pending no substantive changes.
