Legislative Session number- 82

Bill Name: SF2988

E Relating to financial institutions; eliminating the requirement for detached
facility establishment applicants to notify nearby banks of the proposed
location of the facility; clarifying the definition of financial institution for
credit extension maximum rates regulation purposes; regulating lender fees and
prepayment penalties imposed by residential mortgage originators, defining
lender fee; specifying a notice requirement relating to the charging of
prepayment penalties; clarifying the exemption of certain larger loan contracts
from certain charge or fee limits and exempting extensions of credit to certain
organizations from the limits; repealing credit union reserve fund requirements
and a certain provision prohibiting corporations from using the defense of usury
in actions; retroactively repealing a certain recently enacted provision
expanding or clarifying the prohibition on insurance inducements (mk, ja)