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Read. Follow. Verify.Connecticut updates community investment program limits, mortgage payment rules, and banking application procedures
Last action · May 27, 2026: Signed by the GovernorSponsors: Fred Gee and 3 others
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What This Bill Does
Senate Bill 218 updates state banking laws to revise the State Treasurer's community bank investment pool limits, mandate specific payment types and allowances for residential mortgages, and authorize the Banking Commissioner to penalize rental security deposit violations. The act also modifies branch application approval timelines and expands bank examination criteria regarding credit-building products.
Residential mortgage borrowers gain the right to make principal s on loans made after January 1, 2027, and lenders must accept certified checks, wire transfers, and attorney account checks for mortgage satisfactions.
Who It Affects
Groups the bill's text affects, as described in the record. Being affected is not a position for or against it.
Mortgagors
Mortgage borrowers gain the right to make mortgage principal prepayments on loans made after January 1, 2027, without altering regular monthly payments.
Mortgagees
Loan owners and servicers must accept specified payment types for satisfaction and adhere to prepayment rules and restrictions.
Community Banks and Credit Unions
Participating financial institutions are subject to updated asset limits and application procedures for state investment funds.
Landlords
Landlords are subject to investigation and civil penalties by the Banking Commissioner for violations of rental security deposit requirements.
Key Facts
You don't have to trust us. Each fact below is taken straight from the official document - click any one to see the exact passage, highlighted in the original.
Frequently Asked Questions
What forms of payment must a mortgage lender accept to satisfy a mortgage loan?
Can mortgagees charge prepayment penalties for early principal payments?
What happens to a branch or application if no adverse comments are received?
What else do you want to know?
News Coverage
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Votes, people, money & the original sourceWhere This Stands
Current status: Signed into law.
Procedural history
20 actions- May 27, 2026Governor of ConnecticutEnrolledSigned by the Governor
- May 22, 2026Governor of ConnecticutTransmitted by Secretary of the State to Governor
- May 22, 2026Connecticut General AssemblyTransmitted to the Secretary of State
- May 19, 2026Connecticut General AssemblyEnrolledPublic Act 26-79
- May 5, 2026Connecticut General AssemblyIn Concurrence
- May 5, 2026HouseFloorHouse Passed as Amended by Senate Amendment Schedule A
Show 14 earlier actions
- May 5, 2026HouseFloorHouse Adopted Senate Amendment Schedule A
- Apr 16, 2026HouseHouse Calendar Number 460
- Apr 16, 2026HouseFavorable Report, Tabled for the Calendar, House
- Apr 15, 2026SenateFloorSenate Passed as Amended by Senate Amendment Schedule A
- Apr 15, 2026SenateFloorSenate Adopted Senate Amendment Schedule A 4128
- Mar 19, 2026Connecticut General AssemblyFile Number 75
- Mar 19, 2026SenateSenate Calendar Number 75
- Mar 19, 2026SenateFavorable Report, Tabled for the Calendar, Senate
- Mar 19, 2026Connecticut General AssemblyReported Out of Legislative Commissioners' Office
- Mar 13, 2026Connecticut General AssemblyReferred to Office of Legislative Research and Office of Fiscal Analysis 03/18/26 5:00 PM
- Mar 10, 2026Connecticut General AssemblyFiled with Legislative Commissioners' Office
- Mar 10, 2026Connecticut General AssemblyJoint Favorable
- Feb 19, 2026Connecticut General AssemblyPublic Hearing 02/24
- Feb 18, 2026Connecticut General AssemblyCommitteeReferred to Joint Committee on Banking
Version history
Only one version on file - nothing to compare yet. As later stages (committee substitute, engrossed, enrolled) are captured, the redline appears here.
View official text →Lobbying Activity
No state lobbying filings in our records match this bill. Federal lobbying reports (LDA) cover Congress, so they are not listed on state bills.
Full breakdown
Who this bill affects and the strongest case for and against it, written only from the bill’s own text.
Sponsors
Discoveries
Patterns POLISCOPE noticed across the record. These are observations to investigate, not conclusions.
Expansion of Banking Commissioner Enforcement
The act links rental security deposit investigations directly to banking enforcement statutes (sections 36a-50 and 36a-52), expanding administrative penalties for landlords.
Connected Entities
Sources
cga.ct.gov
Analysis Score
0–100- Significance75How much this matters to a regular citizen
- Controversy15Intensity of disagreement among stakeholders
- Entertainment5Compellingness for a non-policy-wonk reader
- Buzz30Current news / social attention level
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