STAND. COM. REP. NO.  1203-16

Honolulu, Hawaii

                , 2016

RE:   S.B. No. 2680

      S.D. 1

Honorable Joseph M. Souki

Speaker, House of Representatives

Twenty-Eighth State Legislature

Regular Session of 2016

State of Hawaii

Sir:

     Your Committee on Consumer Protection & Commerce, to which was referred S.B. No. 2680, S.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO FINANCIAL INSTITUTIONS,"

begs leave to report as follows:

The purpose of this measure is to make housekeeping changes to the Code of Financial Institutions especially with regard to the fee schedule.

Your Committee received testimony in support of this measure from the Department of Commerce and Consumer Affairs and the Hawaii Bankers Association.

     Your Committee finds that this measure removes inconsistencies and ambiguities in the present fee schedule for financial institutions and makes other housekeeping amendments to clarify and update the Code of Financial Institutions.

     As affirmed by the record of votes of the members of your Committee on Consumer Protection & Commerce that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 2680, S.D. 1, and recommends that it pass Second Reading and be referred to your Committee on Finance.

Respectfully submitted on behalf of the members of the Committee on Consumer Protection & Commerce,

____________________________

ANGUS L.K. McKELVEY, Chair