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Committee reviews H.648 edits to bank governance and loan-approval rules
Summary
DFR staff told the House Commerce & Economic Development Committee that H.648 reduces routine board meeting frequency for banks, requires written loan policies to set board-approval thresholds (replacing a 10% capital rule), and clarifies loan-attribution tests and a corporate-group cap to ease lending for development projects.
Deputy Commissioner Aaron told the House Committee on Commerce & Economic Development that H.648 would allow a bank’s governing body to meet as few as four times a year if it appoints an executive committee that meets monthly and whose minutes and ratified actions are reviewed at the next full governing-body meeting. “Look, the governing body can meet as as few times as 4 times a year,” Aaron said, describing the change as an effort to “modernize and make the governance of a bank more efficient without sacrificing any actual oversight of the institution.”
The bill would also replace a…
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