GENERAL ASSEMBLY OF NORTH CAROLINA

SESSION 1995

H	2 

HOUSE BILL 839
Committee Substitute Favorable 5/17/95

Short Title:  Study Consolid. Fin Inst. Regulation.	(Public)

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Sponsors:

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Referred to:  

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April 12, 1995

A BILL TO BE ENTITLED
AN ACT TO AUTHORIZE THE LEGISLATIVE RESEARCH COMMISSION TO STUDY THE ADVISABILITY AND FEASIBILITY OF CONSOLIDATING THE STATE REGULATION OF FINANCIAL INSTITUTIONS INTO A SINGLE AGENCY.
The General Assembly of North Carolina enacts:
Section 1.  The Legislative Research Commission is authorized to study the advisability and feasibility of consolidating into a single agency the State regulation of all financial institutions.  If undertaken, the study shall include, but not be limited to, an examination of:
(1)	The anticipated cost savings, benefits, and problems, if any, to the State and to the regulated industries afforded by such a reorganization;
(2)	The effect of such a reorganization on the coordination of State regulatory efforts with the existing federal regulatory framework; and
(3)	The impact of the proposed consolidation on the adequate supervision of these institutions to protect not only the institutions' depositors but also all segments of the borrowing public.
If the study is undertaken, input shall be obtained from the Commissioner of Banks, the Administrator of Savings Institutions, and the Administrator of Credit Unions as well as the industries regulated by them.
Sec. 2.  The Legislative Research Commission, if it undertakes this study, may report to the 1996 Regular Session of the 1995 General Assembly or to the 1997 General Assembly, or both.
Sec. 3.  This act is effective upon ratification.