S1477 — Requires State-chartered financial institutions to increase minimum reserve balances by five times amount of previous year's losses relating to fraud and theft.

S1477 — 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 CitizenryThis bill requires state-chartered financial institutions, including banks, savings banks, savings and loan associations, building and loan associations, and credit unions, to maintain a reserve ba…Open in Informed Citizenry