Rep. Stanley asks Joint Committee on Financial Services to issue favorable action on his bill providing for the security of public deposits
Rep. Stanley testified on behalf of legislation he filed (House Bill 1113) to establish a framework for qualifying public depositories in addition to instituting rules for determining the collateral for public deposits. Massachusetts is one of several states that do not require banks holding public deposits from cities, towns and districts to secure them with acceptable capital. Local municipalities need […]
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