An Act relative to establishing a financial technology task force
Take action
Record your position on this measure.
Create an account to take a stance, submit a written position, or contact your legislator.
Progress
Where this bill stands in the legislative process.
- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Overview
This bill creates a task force to examine the financial effects of financial technology (fintech) companies and how they interact with existing regulations for banks in Massachusetts. The task force will include members of the General Court and will be responsible for reviewing these issues and providing a report with recommendations. This aims to ensure that the state’s financial regulations are appropriate for the evolving fintech landscape.
Key provisions
- Establish a Financial Technology Task Force.
- The task force will review the financial impact of fintech operations.
- The task force will assess current bank charter regulations.
- Task force members will include representatives from the General Court.
- The task force is required to report its findings and recommendations.
Who is affected
- Financial Technology Companies
- Banks and Financial Institutions
- Massachusetts Residents
- The Massachusetts Legislature
- Financial Services Sector
Notable changes
- The bill seeks to proactively address the impact of fintech on the state’s financial system.
- It introduces a formal mechanism for evaluating regulatory frameworks in light of technological advancements.
Bill text
Read the latest version inline or switch to a previous version.
Text extraction is in progress. View the official source.
Sponsors
Official sponsors from legislative records.
5 on record
Primary sponsor
Bradley H. Jones Jr.
Cosponsors
Bradley H. Jones Jr.
Arguments
Reasons offered for and against this legislation.
Arguments in favor
No arguments in favor have been submitted.
Submit yoursArguments opposed
No arguments opposed have been submitted.
Submit yours