KLS Keeping Law Simple Legislation in plain English

Straight-ahead summaries built from the official bill text. We keep the source links front and center and leave the decision up to you.

Back to Massachusetts

H1208 • 2025

An Act relative to establishing a financial technology task force

An Act relative to establishing a financial technology task force

Technology
Active

The official status still shows this bill as active or still awaiting another formal step.

Sponsor
Bradley H. Jones, Jr.
Last action
2025-11-10
Official status
Accompanied a study order, see H4712
Effective date
Not listed

Plain English Breakdown

Using official source text because the generated explanation was unavailable or could not be confirmed against the official bill text.

An Act relative to establishing a financial technology task force

An Act relative to establishing a financial technology task force By Representative Jones of North Reading, a petition (accompanied by bill, House, No.

What This Bill Does

  • An Act relative to establishing a financial technology task force By Representative Jones of North Reading, a petition (accompanied by bill, House, No.
  • 1208) of Bradley H.
  • Jones, Jr., and others for legislation to establish a special task force (including members of the General Court) to review and report on the financial impact of financial technology operations and current bank charter regulations.
  • Financial Services.

Limits and Unknowns

  • This entry is temporarily using official source text because the generated explanation could not be confirmed against the official bill text during the last sync.

Bill History

  1. 2025-11-10 House

    Accompanied a study order, see H4712

  2. 2025-04-08 Joint

    Hearing scheduled for 04/15/2025 from 10:00 AM-01:00 PM in A-2

  3. 2025-02-27 House

    Referred to the committee on Financial Services

  4. 2025-02-27 Senate

    Senate concurred

Official Summary Text

An Act relative to establishing a financial technology task force
By Representative Jones of North Reading, a petition (accompanied by bill, House, No. 1208) of Bradley H. Jones, Jr., and others for legislation to establish a special task force (including members of the General Court) to review and report on the financial impact of financial technology operations and current bank charter regulations. Financial Services.

Current Bill Text

Read the full stored bill text 
×

Bill H.1208

Notwithstanding any special or general law to the contrary, there shall be a special task force to review and report on the financial impact of financial technology operations and current bank charter regulation in Massachusetts. The task force shall consist of 9 members: the house and senate chairs of the joint committee on financial services or their designees, who shall serve as the co-chairs of the task force; a member of the senate appointed by the senate minority leader; a member of the house of representatives appointed by the house minority leader; a member of MassChallenge’s Global Board of Directors, or a designee; the executive director of the Massachusetts Technology Collaborative, or a designee; and 3 persons to be appointed by the Massachusetts Commissioner of Banks, 1 of whom shall be an employee of the commonwealth in the office of the secretary of labor and workforce development, and 2 of whom shall be selected from a list of 5 persons nominated by the Massachusetts Bankers Association.

This task force shall: (i) identify and review the state laws, regulations, and administrative directives related to financial technology and banking charters; (ii) identify the key banking developments that would best benefit citizens of Massachusetts; (iii) require the division of banks to submit reports to the legislature it obtains from banks and technology companies; and (iv) develop recommendations to establish legislative procedures to better integrate financial technology in Massachusetts.

The task force shall submit a report, including any draft legislation and regulations, to the clerks of the house and representatives and the senate within 12 months of the passage of this act.

The information contained in this website is for general information purposes only. The General Court provides this information as a public service and while we endeavor to keep the data accurate and current to the best of our ability, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.

Close