Establishes a working group to create a pilot program for an alternative credit system for unbanked and undocumented individuals.
The bill amends the financial services law to establish a working group tasked with creating a pilot program for an alternative credit system. This system is intended for unbanked persons, undocumented immigrants, and other individuals who would benefit from such an alternative. The working group will analyze existing models and provide recommendations to the superintendent, governor, and legislature within a year. The group will include representatives from the financial industry and immigration advocates, and will convene monthly.
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- Critical Issues
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