SC Banking and Insurance Committee on S.342, S.830 and S.851 March 11, 2026

Banking and Insurance Full Committee · March 11, 2026

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Introduction of S851 and overview

Presentation

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Chair opens floor to S851, Protection from Financial Exploitation; Dr. Gilbert summarizes: bill lets financial institutions place or decline suspicious holds, requires notice to account holders and, when appropriate, DSS or law enforcement, sets a timeline for holds, allows trusted-contact lists and includes a hold-harmless provision.

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Banking and Insurance Full Committee reviewed three bills: S851 (Protection from Financial Exploitation) was amended and reported favorably; S830 (allowing certain nonprofits to limit auto-insurance issuance to members) was reported favorably; S342 (PBM oversight/pricing) drew extended debate, committee amendment was adopted and the bill was reported out with amendments to be carried to the floor.

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Transcript

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