STAND. COM. REP. NO.  679-08

 

Honolulu, Hawaii

                , 2008

 

RE:   H.B. No. 2254

      H.D. 2

 

 

 

 

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Fourth State Legislature

Regular Session of 2008

State of Hawaii

 

Sir:

 

     Your Committee on Judiciary, to which was referred H.B. No. 2254, H.D. 1, entitled:

 

"A BILL FOR AN ACT RELATING TO BANKS AND FINANCIAL INSTITUTIONS,"

 

begs leave to report as follows:

 

     The purpose of this bill is to protect consumers by prohibiting the deceptive use of the name or trademark of a financial institution, or its affiliates or subsidiaries, in marketing materials and solicitations directed at existing or prospective customers.  In addition, this bill allows the Commissioner of Financial Institutions to establish civil penalties for violations of the prohibition on deceptive use.

 

     The Department of Commerce and Consumer Affairs, Hawaii Bankers Association, Hawaii Credit Union League, Hawaii Financial Services Association, and Mortgage Bankers Association of Hawaii supported this bill. 

 

     Your Committee has amended this measure by changing its effective date to July 1, 2112. 

 

     As affirmed by the record of votes of the members of your Committee on Judiciary that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 2254, H.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as H.B. No. 2254, H.D. 2.

 

Respectfully submitted on behalf of the members of the Committee on Judiciary,

 

 

 

 

____________________________

TOMMY WATERS, Chair