# Connecticut SB 01256: AN ACT CONCERNING THE ORGANIZATION, ADMINISTRATION AND RECEIVERSHIP OF CERTAIN FINANCIAL INSTITUTIONS.

Connecticut SB 01256, AN ACT CONCERNING THE ORGANIZATION, ADMINISTRATION AND RECEIVERSHIP OF CERTAIN FINANCIAL INSTITUTIONS., is a 2025 Regular Session Senate bill sponsored by Banking Committee; status signed, last action 2025-06-24 (Signed by the Governor) (as of 2026-10-19).

- Canonical: https://policyrisk.com/state-bill/CT-SB01256-2025
- As of: 2026-10-19
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: Connecticut SB 01256
- State: Connecticut
- Session: 2025 Regular Session
- Title: AN ACT CONCERNING THE ORGANIZATION, ADMINISTRATION AND RECEIVERSHIP OF CERTAIN FINANCIAL INSTITUTIONS.
- Status: signed
- Chamber: Senate
- Introduced: 2025-02-06
- Last action: 2025-06-24, Signed by the Governor
- Sponsor: Banking Committee
- Cosponsors: 0
- Subjects: banking
- Touches household money: no
- Roll calls: 3 (196 yes, 0 no in all)
- Economic provisions PRIA read: 5

## Summary

To: (1) Increase the fee for investigating and processing an application for the organization of a Connecticut bank; (2) eliminate a factor considered in determining whether the public will be served to advantage by the establishment of a proposed Connecticut bank; (3) increase the amount of assets on deposit that trust banks and innovation banks are required to keep; (4) eliminate a factor considered in determining whether to approve the relocation of a Connecticut bank's main office; (5) reduce the period of time during which written objections may be made to an application made by a bank or association for permission to change its name; and (6) modify the duty of a receiver for a Connecticut bank or Connecticut credit union.

## Bill overview: provisions PRIA read

- Fewer review factors for innovation banks: benefit, low. Beginning July 1, 2025, innovation bank applications no longer require review of the area's population when assessing public benefit. For main-office moves, the Banking Commissioner no longer has to consider public convenience and necessity. Relocation reviews still consider population, existing ba…
- Innovation bank receivers follow bank-specific standards: cost, low. Beginning July 1, 2025, an innovation bank's receiver must liquidate the bank and sell or otherwise collect its assets. The receiver must take account of that bank's credit conditions. For other Connecticut banks and credit unions, the standard continues to focus on credit conditions in the localit…
- Trust and innovation banks must retain deposits: cost, low. Beginning July 1, 2025, Connecticut trust and innovation banks must keep at least $1.5 million in qualifying assets on deposit. The money must be held at a bank approved by the Banking Commissioner. The banks must have a deposit agreement satisfactory to the commissioner. The law removes the phased…
- Higher bank fees, with interim exemption: mixed, low. Beginning July 1, 2025, Connecticut bank organizers pay a $20,000 organization fee, up from $15,000. This also covers conditional preliminary approval for an expedited bank. Interim Connecticut banks pay no organization fee. These fees apply to bank organizers, not households directly.
- Less time to challenge bank names: mixed, low. Beginning July 1, 2025, written objections to a proposed bank name must be filed within 15 days, down from 30. The clock starts when notice appears in the Connecticut Banking Department's weekly bulletin. This deadline applies to objections that the name will tend to confuse the public.

## Sponsors and cosponsors

- Sponsor: Banking Committee

## Roll call votes

| Date | Chamber | Motion | Result | Yes | No | Other |
| --- | --- | --- | --- | --- | --- | --- |
| 2025-03-11 | House | House Roll Call Vote 334 | pass | 147 | 0 |   |
| 2025-03-11 | Senate | Senate Roll Call Vote 237 | pass | 36 | 0 |   |
| 2025-03-11 | Senate | BA Vote Tally Sheet (Joint Favorable Substitute) | pass | 13 | 0 |   |

## Actions (18)

- 2025-06-24: Signed by the Governor (legislature)
- 2025-06-23: Transmitted by Secretary of the State to Governor (legislature)
- 2025-06-23: Transmitted to the Secretary of State (legislature)
- 2025-06-11: Public Act 25-104 (legislature)
- 2025-06-03: In Concurrence (legislature)
- 2025-06-03: House Passed (House)
- 2025-05-23: House Calendar Number 637 (House)
- 2025-05-23: Favorable Report, Tabled for the Calendar, House (House)
- 2025-05-22: Senate Passed (Senate)
- 2025-03-26: File Number 254 (legislature)
- 2025-03-26: Senate Calendar Number 175 (Senate)
- 2025-03-26: Favorable Report, Tabled for the Calendar, Senate (Senate)
- 2025-03-26: Reported Out of Legislative Commissioners' Office (legislature)
- 2025-03-20: Referred to Office of Legislative Research and Office of Fiscal Analysis 03/25/25 5:00 PM (legislature)
- 2025-03-11: Filed with Legislative Commissioners' Office (legislature)
- 2025-03-11: Joint Favorable Substitute (legislature)
- 2025-02-07: Public Hearing 02/13 (legislature)
- 2025-02-06: Referred to Joint Committee on Banking (legislature)

## Bill text

- Public Act No. 25-104, 2025-06-11: [PDF](https://www.cga.ct.gov/2025/ACT/PA/PDF/2025PA-00104-R00SB-01256-PA.PDF)
- File No. 254, 2025-03-26: [PDF](https://www.cga.ct.gov/2025/FC/PDF/2025SB-01256-R000254-FC.PDF)
- BA Joint Favorable Substitute, 2025-03-11: [PDF](https://www.cga.ct.gov/2025/TOB/S/PDF/2025SB-01256-R01-SB.PDF)
- Raised Bill, 2025-02-06: [PDF](https://www.cga.ct.gov/2025/TOB/S/PDF/2025SB-01256-R00-SB.PDF)
- BA Joint Fav. Rpt: [PDF](https://www.cga.ct.gov/2025/JFR/S/PDF/2025SB-01256-R00BA-JFR.PDF)
- BA Vote Tally Sheet (Joint Favorable Substitute): [PDF](https://www.cga.ct.gov/2025/TS/S/PDF/2025SB-01256-R00BA-CV53-TS.PDF)
- Bill Analysis For File Copy 254: [PDF](https://www.cga.ct.gov/2025/BA/PDF/2025SB-01256-R000254-BA.PDF)
- Fiscal Note For File Copy 254: [PDF](https://www.cga.ct.gov/2025/FN/PDF/2025SB-01256-R000254-FN.PDF)
- House Roll Call Vote 334: [PDF](https://www.cga.ct.gov/2025/VOTE/H/PDF/2025HV-00334-R00SB01256-HV.PDF)
- Senate Roll Call Vote 237: [PDF](https://www.cga.ct.gov/2025/VOTE/S/PDF/2025SV-00237-R00SB01256-SV.PDF)
- Summary for Public Act No. 25-104: [PDF](https://www.cga.ct.gov/2025/SUM/PDF/2025SUM00104-R01SB-01256-SUM.PDF)

## Related bills

- HB 05013: AN ACT ADDING CERTAIN PLANTS TO THE INVASIVE PLANTS LIST. (signed)
- SB 01558: AN ACT CONCERNING INCOME TAXES IMPOSED BY OTHER JURISDICTIONS ON RESIDENTS OF THE STATE. (signed)
- SB 01396: AN ACT CONCERNING EARNED BUT UNPAID WAGE OR SALARY INCOME ADVANCES. (signed)
- SB 01187: AN ACT CONCERNING FORECLOSURE, ASSIGNMENT AND OTHER ENFORCEMENT ACTIONS FOR UNPAID SEWER ASSESSMENTS AND OTHER FEES AND CHARGES. (signed)
- HB 07236: AN ACT CONCERNING HUMAN TRAFFICKING AND SEXUAL ASSAULT VICTIMS. (signed)
- HB 07192: AN ACT IMPLEMENTING RECOMMENDATIONS OF THE BIPARTISAN DRUG TASK FORCE. (signed)

## Sources
- [Public Act No. 25-104 (PDF)](https://www.cga.ct.gov/2025/ACT/PA/PDF/2025PA-00104-R00SB-01256-PA.PDF)
- [File No. 254 (PDF)](https://www.cga.ct.gov/2025/FC/PDF/2025SB-01256-R000254-FC.PDF)
- [BA Joint Favorable Substitute (PDF)](https://www.cga.ct.gov/2025/TOB/S/PDF/2025SB-01256-R01-SB.PDF)
- [Raised Bill (PDF)](https://www.cga.ct.gov/2025/TOB/S/PDF/2025SB-01256-R00-SB.PDF)
- [BA Joint Fav. Rpt (PDF)](https://www.cga.ct.gov/2025/JFR/S/PDF/2025SB-01256-R00BA-JFR.PDF)
- [BA Vote Tally Sheet (Joint Favorable Substitute) (PDF)](https://www.cga.ct.gov/2025/TS/S/PDF/2025SB-01256-R00BA-CV53-TS.PDF)
- [Bill Analysis For File Copy 254 (PDF)](https://www.cga.ct.gov/2025/BA/PDF/2025SB-01256-R000254-BA.PDF)
- [Fiscal Note For File Copy 254 (PDF)](https://www.cga.ct.gov/2025/FN/PDF/2025SB-01256-R000254-FN.PDF)
- [House Roll Call Vote 334 (PDF)](https://www.cga.ct.gov/2025/VOTE/H/PDF/2025HV-00334-R00SB01256-HV.PDF)
- [Senate Roll Call Vote 237 (PDF)](https://www.cga.ct.gov/2025/VOTE/S/PDF/2025SV-00237-R00SB01256-SV.PDF)
- [Summary for Public Act No. 25-104 (PDF)](https://www.cga.ct.gov/2025/SUM/PDF/2025SUM00104-R01SB-01256-SUM.PDF)

## Related
- [HB 05013: AN ACT ADDING CERTAIN PLANTS TO THE INVASIVE PLANTS LIST.](https://policyrisk.com/state-bill/CT-HB05013-2025)
- [SB 01558: AN ACT CONCERNING INCOME TAXES IMPOSED BY OTHER JURISDICTIONS ON RESIDENTS OF T…](https://policyrisk.com/state-bill/CT-SB01558-2025)
- [SB 01396: AN ACT CONCERNING EARNED BUT UNPAID WAGE OR SALARY INCOME ADVANCES.](https://policyrisk.com/state-bill/CT-SB01396-2025)
- [SB 01187: AN ACT CONCERNING FORECLOSURE, ASSIGNMENT AND OTHER ENFORCEMENT ACTIONS FOR UNP…](https://policyrisk.com/state-bill/CT-SB01187-2025)
- [HB 07236: AN ACT CONCERNING HUMAN TRAFFICKING AND SEXUAL ASSAULT VICTIMS.](https://policyrisk.com/state-bill/CT-HB07236-2025)
- [HB 07192: AN ACT IMPLEMENTING RECOMMENDATIONS OF THE BIPARTISAN DRUG TASK FORCE.](https://policyrisk.com/state-bill/CT-HB07192-2025)
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Source: PRIA, https://policyrisk.com/state-bill/CT-SB01256-2025 (as of 2026-10-19).