HB 1207-FN proposes comprehensive amendments to the regulations governing state-chartered banks, credit unions, and other financial institutions in New Hampshire. Key changes include an increase in various fees, such as raising the fee for a new state bank or credit union charter from $15,000 to $30,000, and establishing a new annual fixed base fee of $28,000 for depository banks, trust companies, and credit unions, along with $11,000 for family trust companies. The bill also modifies the examination fee structure, allowing the commissioner to charge for actual expenses incurred during examinations while exempting certain regular examinations from fees. Additionally, it eases restrictions for felons seeking mortgage loan originator licenses by reducing the look-back period for felony convictions from ten years to seven years, while ensuring that expunged or pardoned convictions do not disqualify applicants.

Further amendments include the introduction of a new section requiring trust companies to obtain prior consent from the commissioner for modifications to previously approved filings, and updates to investment regulations for depository banks to allow a broader range of investments. The bill also raises application and renewal fees for various financial services, including increasing the principal office license fee from $500 to $750 and establishing new fees for mortgage bankers and brokers. Certain provisions related to mortgage licensing requirements are repealed, and the bill is projected to generate an additional $1.2 million in license application fee revenue annually starting October 1, 2027, although this will be offset by a reduction in per diem examination fees, resulting in a net revenue impact of zero. The implementation of these changes will occur in phases, with some sections effective as early as July 1, 2027.

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
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