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Banks ask committee to raise legal lending limit, shorten de novo period to remain competitive
Summary
The New Hampshire Bankers Association asked the Commerce Committee to raise the legal lending limit for state‑chartered banks from 15% to 20% of capital (25% when secured) and to shorten the de novo supervisory period to 3 years to align state and federal standards.
Christy Merrill, president and CEO of the New Hampshire Bankers Association, testified in support of Senate Bill 85, which would (1) raise the state legal lending limit for New Hampshire‑chartered banks from 15% of capital to 20%, with an option to increase to 25% when the additional 5% is fully secured, and (2) shorten the statutory de novo supervisory period for newly…
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