Banking Bill Wins Final Passage in General Assembly
Tuesday, March 8th, 2016
Legislation aimed at keeping Georgia municipalities’ banking business inside the state won final approval Monday in the General Assembly.
The Georgia House of Representatives voted 162-1 in favor of a Senate bill that would reduce the percentage of bank deposits by Georgia cities and counties that must be secured from 110 percent to 25 percent. To make that lower rate possible, banks would pool their resources and, thus, share the risk.
