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Senate passes HB 945 after floor fight over 'debanking' amendment
Summary
After extensive debate and multiple floor amendments, the Georgia Senate passed House Bill 945 — a 40‑page banking and finance cleanup measure addressing transaction holds for suspected financial exploitation, virtual currency kiosk rules, and tighter oversight of litigation financing. A high-profile amendment to restrict alleged "debanking" was defeated before the bill passed 50–0.
The Georgia Senate passed House Bill 945 on March 11 after a lengthy floor debate and a string of defeated amendments. The bill, presented by the senator from the 3rd, was described on the floor as an omnibus banking cleanup that would allow financial institutions to place temporary transaction holds to protect eligible adults from suspected financial exploitation, set requirements for virtual currency kiosks, and tighten registration and enforcement for litigation financiers.
"This is the annual cleanup bill for the Department of Banking and Finance," the senator from the 3rd said when introducing the measure. He flagged three priorities: transaction holds to prevent exploitation, heightened disclosures and limits at virtual currency kiosks, and revisions to the litigation‑financing regime including annual registration requirements.
A principal point of contention was Amendment 1, offered from the floor by the senator from the 19th, which would have added a private right of action…
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