A3876 — Requires State-chartered financial institutions to increase minimum reserve balances by five times amount of previous year's losses relating to fraud and theft.

A3876 — Requires State-chartered financial institutions to increase minimum reserve balances by five times amount of previous year's losses relating to fraud and theft. · Informed CitizenryAssembly Bill A3876 requires state-chartered financial institutions to significantly strengthen their financial safeguards. Specifically, the bill mandates that these institutions raise their minim…Open in Informed Citizenry