DE SB211 | 2017-2018 | 149th General Assembly

Status

Spectrum: Moderate Partisan Bill (Democrat 7-2)
Status: Introduced on May 10 2018 - 25% progression
Action: 2018-05-10 - Introduced and Assigned to Banking, Business & Insurance Committee in Senate
Pending: Senate Banking, Business & Insurance Committee
Text: Latest bill text (Draft #1) [HTML]

Summary

This Act authorizes the creation and regulation of a new type of limited-purpose bank, the "Business Development Bank." Modeled on Delaware's successful credit card bank laws, this Act would allow Business Development Banks, or "BDBs," to concentrate their resources in the commercial lending space, leverage technology and expertise, and partner with existing banks to serve a broader spectrum of small to medium-sized businesses. This Act would limit the permissible activities of the BDBs to ensure that they cannot compete with existing banks for consumer customers or to provide several other forms of bank or trust services.

Tracking Information

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Title

An Act To Amend Title 5 Of The Delaware Code Relating To The Creation And Regulation Of Business Development Banks.

Sponsors


History

DateChamberAction
2018-05-10 Introduced and Assigned to Banking, Business & Insurance Committee in Senate

Delaware State Sources


Bill Comments

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