Banks; loan applicant verification. (SB42)

Introduced By

Sen. Barbara Favola (D-Arlington) with support from co-patron Sen. Louise Lucas (D-Portsmouth)

Progress

Introduced
Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law

Description

Banks; loan applicant verification. Requires banks that receive a loan application form that names an existing customer as the applicant to contact the customer and verify that the customer has applied for the loan. The duty applies when the loan application form is included in loan solicitation materials sent by or on behalf of a bank to its existing customers. Read the Bill »

Outcome

Bill Has Failed

History

DateAction
11/21/2017Prefiled and ordered printed; offered 01/10/18 18100427D
11/21/2017Referred to Committee on Commerce and Labor
01/12/2018Impact statement from SCC (SB42)
01/22/2018Stricken at request of Patron in Commerce and Labor (11-Y 0-N) (see vote tally)