HOUSE  .  .  .  .  .  .  .  .  No. 4705

The Commonwealth of Massachusetts

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HOUSE OF REPRESENTATIVES, June 3, 2024.

 The committee on Financial Services, to whom were referred the petition (accompanied by bill, House, No. 928) of Bruce J. Ayers relative to civil liability for improper flood hazard determinations; the petition (accompanied by bill, House, No. 942) of Christine P. Barber, Peter Capano and others relative to establishing a foreclosure prevention program; the petition (accompanied by bill, House, No. 949) of Antonio F. D. Cabral and others relative to homeowners’ insurance; the petition (accompanied by bill, House, No. 951) of Antonio F. D. Cabral and others for legislation to further regulate title insurance; the petition (accompanied by resolve, House, No. 952) of Antonio F. D. Cabral and others for an investigation by a special commission (including members of the General Court) to better protect consumers by studying and analyzing title insurance practices; the petition (accompanied by bill, House, No. 954) of Daniel Cahill relative to the use of bank names, trade names and trademarks in electronic communications; the petition (accompanied by bill, House, No. 956) of Daniel Cahill relative to the licensing and supervision of debt management services; the petition (accompanied by bill, House, No. 972) of Tackey Chan for legislation to require financial institutions to pay late fees upon failure to conduct electronic transfers; the petition (accompanied by bill, House, No. 973) of Tackey Chan relative to unclaimed life insurance benefits; the petition (accompanied by bill, House, No. 987) of Marjorie C. Decker for legislation to prevent medical bills from eroding an injury victim’s compensation received through a settlement or court award; the petition (accompanied by bill, House, No. 996) of Paul J. Donato and others for legislation to encourage retirement planning by establishment of a Massachusetts secure choice savings program; the petition (accompanied by bill, House, No. 1012) of William C. Galvin and Carol A. Doherty relative to unemployment insurance and family medical leave benefits for certain visiting trainees; the petition (accompanied by bill, House, No. 1026) of Carlos González and Bud L. Williams relative to insurance premiums for homeowners; the petition (accompanied by bill, House, No. 1027) of Carlos González and Bud L. Williams relative to homeowners’ insurance complaint education; the petition (accompanied by bill, House, No. 1028) of Carlos González, Bud L. Williams and Orlando Ramos relative to community reinvestment goals for banks; the petition (accompanied by bill, House, No. 1032) of Patricia A. Haddad and Sal N. DiDomenico relative to growth opportunities for state financial institutions; the petition (accompanied by bill, House, No. 1034) of Patricia A. Haddad for legislation to authorize municipalities to invest in credit unions; the petition (accompanied by bill, House, No. 1048) of Daniel J. Hunt relative to mutual company dividends; the petition (accompanied by bill, House, No. 1051) of Bradley H. Jones, Jr., and others for legislation to establish a special task force (including members of the General Court) to review and report on the financial impact of financial technology operations and current bank charter regulations; the petition (accompanied by bill, House, No. 1057) of Bradley H. Jones, Jr., and others for legislation to further regulate rent escrow; the petition (accompanied by bill, House, No. 1060) of Bradley H. Jones, Jr., and others relative to the equitable assessment of bank fees; the petition (accompanied by bill, House, No. 1062) of Hannah Kane and others relative to the disclosure of information of certain persons in the unclaimed property program; the petition (accompanied by bill, House, No. 1064) of Patrick Joseph Kearney and Rodney M. Elliott relative to modernizing private flood insurance; the petition (accompanied by bill, House, No. 1070) of Meghan Kilcoyne for legislation to establish secure choice retirement savings plans; the petition (accompanied by bill, House, No. 1071) of Meghan Kilcoyne relative to annuity nonforfeiture; the petition (accompanied by bill, House, No. 1076) of John J. Lawn, Jr., Smitty Pignatelli and Vanna Howard relative to mortgage licensing fees; the petition (accompanied by bill, House, No. 1083) of David Henry Argosky LeBoeuf and others for legislation to facilitate alternatives to foreclosures; the petition (accompanied by bill, House, No. 1088) of Jay D. Livingstone relative to insurance; the petition (accompanied by bill, House, No. 1089) of Jay D. Livingstone relative to gender identity in insurance; the petition (accompanied by bill, House, No. 1097) of Frank A. Moran and Estela A. Reyes relative to the mission of credit unions and promoting competition among financial institutions; the petition (accompanied by bill, House, No. 1100) of Mathew J. Muratore relative to non-profit fraternal benefit societies' investment restrictions; the petition (accompanied by bill, House, No. 1109) of Jerald A. Parisella relative to insurance benefits relating to relocation costs; the petition (accompanied by bill, House, No. 1113) of Alice Hanlon Peisch relative to real estate disclosure forms; the petition (accompanied by bill, House, No. 1151) of Todd M. Smola relative to fees for certain inactive bank accounts; the petition (accompanied by bill, House, No. 1152) of Todd M. Smola relative to insurance companies and death certificates; the petition (accompanied by bill, House, No. 1153) of Todd M. Smola for legislation to increase maximum liabilities of annuity benefit insurance payable by the Massachusetts Life and Health Insurance Guaranty Association; the petition (accompanied by bill, House, No. 1163) of Jonathan D. Zlotnik and others for legislation to authorize municipalities to invest in credit unions; the petition (accompanied by bill, House, No. 3758) of Sally P. Kerans relative to ensuring sufficient notice to homeowners by insurance companies prior to inspections; the petition (accompanied by bill, House, No. 3759) of Sarah K. Peake relative to ATM receipts; the petition (accompanied by bill, House, No. 3773) of Richard M. Haggerty for legislation to modernize Massachusetts Credit Union Share Insurance Corporation (MSIC) investments; the petition (accompanied by bill, House, No. 3774) of Joan Meschino and others for legislation to create a climate bank to facilitate innovative financing solutions for climate and clean energy innovations in the public, private, and non-profit sectors; the petition (accompanied by bill, House, No. 3953) of Michelle M. DuBois and Angelo J. Puppolo, Jr., for legislation to establish a publicly owned and administered trust fund for receipt of reasonable mortgage payments; and the petition (accompanied by bill, House, No. 3954) of Michelle M. DuBois relative to shared appreciation mortgage loans, reports recommending that the accompanying order (House, No. 4705) ought to be adopted.

For the committee,

JAMES M. MURPHY.

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 4705

The Commonwealth of Massachusetts

 Ordered, That the committee on Financial Services be authorized to sit during a recess of the General Court to make an investigation and study of House documents numbered 928, 942, 949, 951, 952, 954, 956, 972, 973, 987, 996, 1012, 1026, 1027, 1028, 1032, 1034, 1048, 1051, 1057, 1060, 1062, 1064, 1070, 1071, 1076, 1083, 1088, 1089, 1097, 1100, 1109, 1113, 1151, 1152, 1153, 1163, 3758, 3759, 3773, 3774, 3953 and 3954, relative to industry insurance, banking and other related matters.

 Said committee shall report to the General Court the results of its investigation and study and its recommendations, if any, together with drafts of legislation necessary to carry such recommendations into effect, by filing the same with the Clerk of the House of Representatives on or before December 31, 2024.