Establishes regional mortgage review boards and a small business loan review board within the Division of Banks.
The bill creates two regional mortgage review boards and a small business loan review board within the Division of Banks. These boards will review mortgage and small business loan denials, providing applicants with written determinations and advice within specified timeframes. The small business loan review board will also issue annual reports on credit availability to small businesses. Members of these boards serve without compensation and are appointed by the commissioner for terms of three years.
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