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Georgia House passes banking bill allowing temporary holds on suspected fraud and new rules for crypto kiosks
Summary
The House approved HB 945 to let trained financial institutions place time-limited holds on suspicious transactions, set consumer protections for cryptocurrency kiosks (daily limits and refund windows), and tighten oversight of litigation finance firms. The measure passed 161–5.
The Georgia House on Friday passed a broad banking and consumer-protection measure designed to curb financial scams and regulate virtual-currency kiosks. House Bill 945, a Department of Banking and Finance housekeeping bill with substantive new provisions, won final passage by a 161–5 recorded vote.
Representative Williams, presenting the committee substitute, said the bill gives "financial institutions the ability to temporarily pause suspicious transactions when they reasonably...suspect an elderly or disabled adult is being financially exploited." He described the hold as limited "only on the suspicious transaction, not on the customer's other funds, for up to 15 days." Williams added the bill would require institutions that opt in to have written policies, training and limited…
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