Senate Bill No. 218 mandates the Department of Banking to conduct a study on banking issues within the state. The bill requires the department to submit a report detailing the findings of this study to the joint standing committee of the General Assembly that oversees banking matters by January 15, 2027. The new legal language introduced in this bill includes the establishment of a new section that outlines the requirement for the study and the reporting timeline.

The bill does not have any fiscal impact on the state or municipalities, as the Department of Banking possesses the necessary resources to fulfill the study's requirements. There are no deletions from current law noted in the text of the bill. The Banking Committee has reported the bill favorably, with a unanimous vote of 13 in favor and none against.