An Act expanding access to banking and commercial insurance for underserved microbusinesses and small businesses
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Overview
This bill aims to improve access to banking and commercial insurance services for microbusinesses and small businesses that are currently underserved. It will establish a special commission to investigate and recommend ways to enhance these services within the state. The commission will include members of the General Court and will focus on both banking and insurance access for these businesses.
Key provisions
- Establish a special commission to investigate access to banking for microbusinesses and small businesses.
- Establish a special commission to investigate access to commercial insurance for microbusinesses and small businesses.
- The commission will include members of the General Court.
- The bill seeks to address barriers to financial services for underserved businesses.
- The commission's work is related to a study order (H5213).
- The bill was referred to the committee on Financial Services.
- The Senate concurred with the bill.
- A hearing is scheduled for November 18, 2025.
Who is affected
- Microbusinesses
- Small Businesses
- Financial Services Sector
- Insurance Sector
- Massachusetts Residents
Notable changes
- The bill creates a commission to study and recommend improvements to banking and insurance access.
Bill text
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Sponsors
Official sponsors from legislative records.
3 on record
Primary sponsor
Cosponsors
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