# Georgia HB 15: Banking and finance; update terminology; provisions Georgia HB 15, Banking and finance; update terminology; provisions, is a 2025-2026 Regular Session House bill sponsored by Robert Dickey (Republican), Demetrius Douglas (Democrat), Jaclyn Ford (Republican) and 3 others; status signed, last action 2025-07-01 (Effective Date) (as of 2026-10-19). - Canonical: https://policyrisk.com/state-bill/GA-HB15-2025-2026 - As of: 2026-10-19 - Plain-text twin of the page above; the HTML and this file carry the same facts. ## Facts - Bill: Georgia HB 15 - State: Georgia - Session: 2025-2026 Regular Session - Title: Banking and finance; update terminology; provisions - Status: signed - Chamber: House - Introduced: 2025-01-13 - Last action: 2025-07-01, Effective Date - Sponsors: Robert Dickey (Republican), Demetrius Douglas (Democrat), Jaclyn Ford (Republican), Jason Ridley (Republican), Noel Williams (Republican), Bruce Williamson (Republican) - Cosponsors: 1 - Subjects: Banks & Banking, Banking and Financial Institutions, General Bill - Touches household money: no - Roll calls: 2 (209 yes, 2 no in all) - Economic provisions PRIA read: 15 ## Summary No summary available. ## Bill overview: provisions PRIA read - Merchants gain clearer payment fund safeguards: benefit, low. Merchant acquirer limited-purpose banks must keep records identifying each merchant and the total money held for that merchant. Banks can arrange for another party to keep these records. Records must be kept honestly during normal business and be easy to find. Georgia can approve alternative ways t… - Mortgage ads drop lender naming requirement: cost, low. Ads using a person's mortgage number, loan amount, or other public loan details no longer have to name the lender. They must still begin with a clear, bold statement that the sender is not authorized, sponsored, or affiliated with the lender. They must also state that the recipient's lender did not… - Foreign bank offices lose continuation rule: cost, low. The law removes a rule preserving registration for Georgia foreign bank representative offices registered on June 30, 2023. That rule also expressly allowed those offices to keep doing business. This change does not state each office's resulting status or provide a replacement registration process. - Incomplete financial license applications face withdrawal: cost, low. Georgia can send a withdrawal notice when mortgage, check-sale, or money-transmission license applications lack required information. Applicants have 30 days after the notice is issued to provide the requested information. The state can withdraw the application if the applicant misses that deadline. - Mortgage businesses face new financial minimums: mixed, medium. Georgia mortgage brokers must maintain at least $50,000 in net worth. Lenders that are not covered servicers must maintain $100,000 in net worth and $1 million in available funds. Covered servicers, with portfolios of 2,000 or more residential loans, must meet federal capital and liquidity standard… - Bank deals get exemptions and scrutiny: mixed, low. Transactions governed by Georgia Code sections 7-1-605 through 7-1-608 are excluded from the bank holding company transaction rules. Sections 7-1-231 and 7-1-232 still apply. When reviewing covered bank holding company deals, the state must consider management's competence, character, and experienc… - Credit union formation gets clearer safeguards: mixed, low. Credit union articles list organizers' and original directors' counties of residence instead of street addresses. Organizers must send filed articles or a statement for publication by the next business day. Notices must run weekly for two consecutive weeks, starting within 10 days after the newspap… - Foreign bank moves require advance notice: mixed, low. Foreign banks must notify Georgia at least 30 days before moving a state branch, agency, or representative office. Representative offices must also post notices at the affected office and on their website at least 30 days before moving. The state can require an application when a relocation notice… - Foreign banks face asset backing rules: mixed, low. Foreign banks can pledge approved assets held by state-approved, unrelated banks instead of the specified deposits or securities. The pledge generally must equal the greater of Georgia's state-bank capital requirement or 1% of branch or agency liabilities. Assets count at the lower of their princip… - Merchant payment banks face stricter screening: mixed, low. Merchant acquirer limited-purpose banks must complete commercial employee checks before hiring, confirm legal compliance, and keep the results for state review. Applicants or banks pay commercial check fees and fees for state-requested Georgia and FBI criminal checks. State conviction records are c… - Money service licenses face felony restrictions: mixed, low. Georgia must deny check-sale and money-transmission licenses when covered people have felony convictions from the past seven years. The state can also revoke existing licenses. Listed financial, fraud, dishonesty, and related crimes disqualify covered people at any time. Covered people include appl… - New banks face prompt public notices: mixed, low. Bank and trust company organizers must send filed articles, or a statement instead, for publication by the next business day. Public notices identify organizers and proposed directors by county of residence rather than street address. The law pairs a fast filing deadline with less personal address… - Mortgage businesses face regular financial reviews: mixed, low. Georgia mortgage brokers and lenders must file quarterly and annual loan, servicing, and financial reports using state and national licensing-system forms. Brokers must submit yearly financial statements under standard accounting rules; unaudited statements require the broker's certification. The s… - Mortgage licensing tightens felony history rules: mixed, low. Mortgage loan originators face disqualification for felonies within seven years, or listed disqualifying crimes at any time. First-offender treatment without a court finding of guilt counts for originators. Other covered mortgage applicants, licensees, and associated people face similar seven-year… - Mortgage oversight gains rules and flexibility: mixed, low. Georgia mortgage brokers and lenders must maintain a board or permitted oversight body that oversees internal audits, compliance, and accurate reporting. They must maintain risk programs suited to their size and risks, assess risks annually, and report results to that body. Federally approved cover… ## Sponsors and cosponsors - Sponsor: Robert Dickey (Republican), House - Sponsor: Demetrius Douglas (Democrat), House - Sponsor: Jaclyn Ford (Republican), House - Sponsor: Jason Ridley (Republican), House - Sponsor: Noel Williams (Republican), House - Sponsor: Bruce Williamson (Republican), House - Cosponsor: John F. Kennedy (Republican), Senate ## Roll call votes | Date | Chamber | Motion | Result | Yes | No | Other | | --- | --- | --- | --- | --- | --- | --- | | 2025-03-10 | Senate | PASSAGE | pass | 46 | 1 | 1 | | 2025-02-12 | House | PASSAGE | pass | 163 | 1 | 9 | ## Actions (15) - 2025-07-01: Effective Date - 2025-05-14: House Date Signed by Governor (House) - 2025-05-14: Act 250 - 2025-04-07: House Sent to Governor (House) - 2025-03-10: Senate Third Read (Senate) - 2025-03-10: Senate Passed/Adopted (Senate) - 2025-02-20: Senate Read Second Time (Senate) - 2025-02-19: Senate Committee Favorably Reported (Senate) - 2025-02-13: Senate Read and Referred (Senate) - 2025-02-12: House Third Readers (House) - 2025-02-12: House Passed/Adopted (House) - 2025-02-06: House Committee Favorably Reported (House) - 2025-01-15: House Second Readers (House) - 2025-01-14: House First Readers (House) - 2025-01-13: House Hopper (House) ## Bill text - HB 15/AP* (v3): [PDF](https://www.legis.ga.gov/api/legislation/document/20252026/235747) ## Related bills - SB 160: Reckless Stunt Driving; a motor vehicle involved in a second offense of reckless stunt driving; replace the forfeiture penalty (signed) - SB 384: Motor Vehicle; optional five-year motor vehicle registration and revalidation for certain motor vehicles; provide (signed) - SB 76: License Plates; specialty license plate benefitting the Georgia Veterans Service Foundation; establish (signed) - SB 406: "Georgia Property Owners' Bill of Rights Act"; enact (signed) - HB 1391: Specialty license plates; honor public safety officers; establish (signed) - HB 1344: Georgia Insurance Affordability and Claims Integrity Act; enact (signed) ## Sources - [HB 15/AP* (v3) (PDF)](https://www.legis.ga.gov/api/legislation/document/20252026/235747) ## Related - [SB 160: Reckless Stunt Driving; a motor vehicle involved in a second offense of reckles…](https://policyrisk.com/state-bill/GA-SB160-2025-2026) - [SB 384: Motor Vehicle; optional five-year motor vehicle registration and revalidation f…](https://policyrisk.com/state-bill/GA-SB384-2025-2026) - [SB 76: License Plates; specialty license plate benefitting the Georgia Veterans Servic…](https://policyrisk.com/state-bill/GA-SB76-2025-2026) - [SB 406: "Georgia Property Owners' Bill of Rights Act"; enact](https://policyrisk.com/state-bill/GA-SB406-2025-2026) - [HB 1391: Specialty license plates; honor public safety officers; establish](https://policyrisk.com/state-bill/GA-HB1391-2025-2026) - [HB 1344: Georgia Insurance Affordability and Claims Integrity Act; enact](https://policyrisk.com/state-bill/GA-HB1344-2025-2026) - [Georgia bills](https://policyrisk.com/states/georgia/bills) - [Georgia state hub](https://policyrisk.com/states/georgia) - [All state legislation](https://policyrisk.com/state-bills) Source: PRIA, https://policyrisk.com/state-bill/GA-HB15-2025-2026 (as of 2026-10-19).