The General Assembly Raised Bill No. 6988 mandates the Department of Banking to conduct a study on financial transactions within the state. The bill requires the department to submit a report detailing the findings of this study to the relevant joint standing committee of the General Assembly by January 15, 2026. This initiative aims to enhance understanding and oversight of financial transactions occurring in the state.

The bill introduces new legal language, specifically establishing a new section that outlines the requirement for the study and report. There are no deletions from current law in this bill, as it primarily focuses on the insertion of this new mandate for the Department of Banking.