Connecticut HB 5315: AN ACT ESTABLISHING A WORKING GROUP TO STUDY CONSUMER FRAUD AND PROTECTIONS AGAINST SUCH FRAUD.

Bill Text

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General Assembly Substitute Bill No. 5315
February Session, 2026

AN ACT ESTABLISHING A WORKING GROUP TO STUDY
CONSUMER FRAUD AND PROTECTIONS AGAINST SUCH FRAUD.
Be it enacted by the Senate and House of Representatives in General
Assembly convened:

Section 1. (Effective from passage) (a) The chairpersons of the joint 1
standing committee of the General Assembly having cognizance of 2
matters relating to banking shall convene a working group to study 3
consumer fraud and protections against such fraud. 4
(b) The working group shall include, but need not be limited to, the 5
following members: 6
(1) The chairpersons and ranking members of the joint standing 7
committee of the General Assembly having cognizance of matters 8
relating to banking, or their designees; 9
(2) The Banking Commissioner, or the commissioner's designee; 10
(3) The Commissioner of Emergency Services and Public Protection, 11
or the commissioner's designee; 12
(4) The executive director of the Commission on Women, Children, 13
Seniors, Equity and Opportunity, or the executive director's designee; 14
(5) An elder law attorney who represents senior citizens in the state; 15

Substitute Bill No. 5315

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(6) A representative of an association that represents financial 16
institutions in the state; 17
(7) A representative of an organization that represents credit unions 18
in the state; 19
(8) A representative of an organization that represents consumers in 20
the state; 21
(9) A representative of an organization that represents senior citizens 22
in the state; 23
(10) Three members of an association that represents financial 24
institutions in the state, who shall be appointed by such association; and 25
(11) Three members of an organization that represents credit unions 26
in the state, who shall be appointed by such organization. 27
(c) The chairpersons of the joint standing committee of the General 28
Assembly having cognizance of matters relating to banking shall: 29
(1) Appoint the members described in subdivisions (5) to (9), 30
inclusive, of subsection (b) of this section; 31
(2) Select the association and organization described in subdivisions 32
(10) and (11) of subsection (b) of this section, respectively, for the 33
purpose of making the appointments described in said subdivisions; 34
and 35
(3) Schedule the first meeting of the working group, which shall be 36
held not later than sixty days after the effective date of this section. 37
(d) The members of the working group shall select two 38
cochairpersons from among the members of the working group. 39
(e) The administrative staff of the joint standing committee of the 40
General Assembly having cognizance of matters relating to banking 41
shall serve as administrative staff of the working group. 42

Substitute Bill No. 5315

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(f) Not later than January 1, 2027, the working group shall submit a 43
report on its findings and recommendations to the joint standing 44
committee of the General Assembly having cognizance of matters 45
relating to banking, in accordance with the provisions of section 11-4a 46
of the general statutes. The working group shall terminate on the date 47
that it submits such report or January 1, 2027, whichever is later. 48
This act shall take effect as follows and shall amend the following
sections:

Section 1 from passage New section

BA Joint Favorable Subst.