The House Consumer Protection and Business Committee held a public hearing on Senate Joint Memorial 8004, which addresses “de-risking” by financial institutions. The bill passed the Senate 47-0 and would have to pass the House, in order to go to the Governor’s office, for an opportunity to be signed into law.
The bill, if passed, would make a formal request of the U.S. Congress that it implement strategies and recommendations that better enable banks to serve immigrants and make it harder for banks to avoid assisting immigrants to send funds overseas.
Click here for more information on the bill: SJM 8004
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