Banking Department Seeks Fee Modernization; Committee Questions Small-Business Impacts
HB1207 would restructure how the Banking Department funds its operations by replacing hourly exam fees for chartered institutions with predictable annual flat fees and updating long-unused licensing fees. Department officials said changes smooth revenue and align practices with current workloads; senators pressed for protections for small businesses and clarification of fee calculations.
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Representative John Hunt presented HB1207 as the Banking Department’s omnibus modernization and housekeeping bill. Commissioner Amelia Galeri explained the bill replaces hourly exam fees for state-chartered depository institutions with a fixed annual base fee and raises certain licensing fees that have not been updated in decades, with the aim of smoothing revenue collection for the self-funded department.
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