An Act relative to establishing a financial technology task force

HD 2255 creates a 9-member task force to study financial technology (fintech) impacts and banking regulations in Massachusetts. The task force, including legislative leaders, fintech representatives, banking officials, and community members, will review state laws, identify beneficial banking innovations, and require the state banking division to submit reports from banks and fintech companies. It must develop recommendations for integrating fintech into Massachusetts' financial system and submit a final report with draft legislation to the legislature within 12 months. This bill does not change current laws but establishes a process to inform future policy decisions affecting Massachusetts' financial sector and its citizens.