Establishes a working group to develop a pilot program for an alternative credit system for unbanked persons and undocumented immigrants.
The bill establishes a working group to create a pilot program for an alternative system to a credit score for unbanked persons, undocumented immigrants, and other individuals who would benefit from such a mechanism. The working group will analyze models for alternatives to traditional credit scores, convene monthly, and report to the superintendent, the governor, and the legislature within a year. The superintendent will form the working group, which will include representatives of the financial industry and immigration advocates.
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- Critical Issues
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