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House passes bill clarifying financial regulator powers, authorizing school financial-education curriculum
Summary
The Utah House approved HB 194 to clarify the Department of Financial Institutions' authority to pursue administrative, judicial or civil action for unconscionability, usury and fraud and to authorize a coordinated financial-education curriculum for K–12 and higher education; the bill was referred to the Senate after receiving 69 yes votes.
The Utah House passed House Bill 194 on the fifth day of the 1999 legislative session to sharpen the Department of Financial Institutions’ enforcement authority and to authorize development of a consumer financial-education curriculum.
Representative Hofer, who presented the bill, said it “does 2 things.” He explained the first is to ‘‘clarify the Department of Financial Institutions’ duties…
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