HB 4570

Abstract

Amends the Deposit of State Moneys Act. Disqualifies banks and savings and loan associations that have not achieved a federal Community Reinvestment Act rating ("CRA rating") of "outstanding record of meeting community credit needs" from serving as a depositary of State moneys upon their failure to establish, within 365 days after the effective date of the amendatory Act and each year thereafter, in each low-income and moderate-income geography that is located in those portions of their assessment areas that are in the State, at least one more automated teller machine ("ATM") or branch than they operated in that geography on the first day of the preceding calendar year and to maintain those facilities. Defines terms.