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Committee hears testimony on bill to toughen penalties for banking fraud
Summary
The Committee on Financial Institutions heard testimony on the Senate committee substitute for Senate Bill 98, which sponsors said would strengthen penalties for banking fraud; two industry groups voiced support. No vote was taken.
Senator Crawford on behalf of the bill sponsor presented the Senate committee substitute for Senate Bill 98 to the Committee on Financial Institutions, saying the proposal would strengthen penalties for banking-related fraud.
The bill sponsor told the panel the measure "will actually put more teeth in fraud, banking fraud," and described growing losses banks attribute to fraud. The bill would "spell out the…
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