The bill, HB 1207-FN, proposes significant amendments to New Hampshire's banking laws, particularly concerning the regulation and fees for state-chartered financial institutions. It eliminates regular examination fees for state-chartered credit unions, trust companies, and family trust companies, replacing them with a fixed annual fee of $23,000 for most institutions and $11,000 for family trust companies, effective July 1, 2027. The bill also clarifies that the costs of examinations will be borne by the examined entity, with exceptions for certain unlicensed activities. Additionally, it aligns state licensing requirements with the federal SAFE Act by easing restrictions for applicants with specific prior criminal convictions seeking mortgage loan originator licenses and raises application and renewal fees for various financial licenses.

Moreover, the bill introduces new fee structures, increasing application fees for new branches, loan production offices, and trust company offices, while also establishing a minimum charge for assessments related to consumer credit entities. It modifies the licensing criteria for mortgage bankers, brokers, and servicers, adjusting the time frame for felony convictions and expanding disqualifying misdemeanors. The bill also streamlines the application process by allowing the commissioner to withdraw applications deemed abandoned after 180 days of no response, and it mandates that licensees translate records into English. Overall, these changes aim to enhance regulatory oversight, increase financial obligations for various institutions, and ensure that only qualified entities operate within New Hampshire's financial services sector.

Statutes affected:
Introduced: 383:9, 383:11, 397-A:5, 397-A:7, 399-A:6, 399-D:6, 399-G:6, 399-G:10, 399-G:18, 399-G:21, 383-E:11-1101, 383-A:6-609, 383-B:3-303, 383-C:2-201, 383-C:6-601, 399-G:8, 399-G:11, 399-D:4, 399-D:5, 399-A:4, 399-A:5, 397-A:8
As Amended by the House: 383:9, 383:11, 397-A:5, 397-A:7, 399-A:6, 399-D:6, 399-G:6, 399-G:10, 399-G:18, 399-G:21, 383-E:11-1101, 383-A:6-609, 383-B:3-303, 383-C:2-201, 383-C:6-601, 399-G:8, 399-G:11, 399-D:4, 399-D:5, 399-A:4, 399-A:5, 397-A:8
As Amended by the Senate: 383:9, 383:11, 397-A:5, 397-A:7, 399-A:6, 399-D:6, 399-G:6, 399-G:10, 399-G:18, 399-G:21, 383-E:11-1101, 383-A:6-609, 383-B:3-303, 383-C:2-201, 383-C:6-601, 399-G:8, 399-G:11, 399-D:4, 399-D:5, 399-A:4, 399-A:5, 397-A:8
Version adopted by both bodies: 383:9, 383:11, 397-A:5, 397-A:7, 399-A:6, 399-D:6, 399-G:6, 399-G:10, 399-G:18, 399-G:21, 383-E:11-1101, 383-A:6-609, 383-B:3-303, 383-C:2-201, 383-C:6-601, 399-G:8, 399-G:11, 399-D:4, 399-D:5, 399-A:4, 399-A:5, 397-A:8
CHAPTERED FINAL VERSION: 383:9, 383:11, 397-A:7, 399-A:6, 399-D:6, 399-G:6, 399-G:10, 399-G:18, 399-G:21, 383-E:11-1101, 383-A:6-609, 383-B:3-303, 383-C:2-201, 383-C:6-601, 399-G:8, 399-G:11, 399-D:4, 399-D:5, 399-A:4, 399-A:5, 397-A:5, 397-A:8
HB1207 text: 383:9, 383:11, 397-A:5, 397-A:7, 399-A:6, 399-D:6, 399-G:6, 399-G:10, 399-G:18, 399-G:21, 383-E:11-1101, 383-A:6-609, 383-B:3-303, 383-C:2-201, 383-C:6-601, 399-G:8, 399-G:11, 399-D:4, 399-D:5, 399-A:4, 399-A:5, 397-A:8