Rhode Island legislation · 2026 Regular Session
Rhode Island H7867: AN ACT RELATING TO FINANCIAL INSTITUTIONS -- LICENSED ACTIVITIES (Establishes requirements for capital, liquidity, and corporate governance including: audit, risk management, and board oversight, for nonbank mortgage servicers.)
Status: Signed into law, June 23, 2026
What the bill says
From the introduced text, February 27, 2026:
2026 -- H 7867 ======== LC005415 ======== STATEOFRHODEISLAND IN GENERAL ASSEMBLY JANUARY SESSION, A.D. 2026 ____________ ANACT RELATING TO FINANCIAL INSTITUTIONS -- LICENSED ACTIVITIES Introduced By: Representative Joseph J. Solomon Date Introduced: February 27, 2026 Referred To: House Corporations (Dept. of Business Regulation) It is enacted by the General Assembly as follows: SECTION 1. Section 19-14-1 of the General Laws in Chapter 19-14 entitled "Licensed Activities" is hereby amended to read as follows: 19-14-1. Definitions. [Effective until January 1, 2027.] Unless otherwise specified, the following terms shall have the following meanings throughout chapters 14, 14.1, 14.2, 14.3, 14.4, 14.6, 14.8, 14.10, and 14.11 of this title: (1) "Board of directors" means the formal body established by an entity that is responsible for corporate governance and compliance with state and federal laws. (1)(2) "Bona fide employee" shall mean an employee of a licensee who works under the oversight and supervision of the licensee. (2)(3) "Check" means any check, draft, money order, personal money order, or other instrument for the transmission or payment of money. For the purposes of check cashing, travelers checks or foreign denomination instruments shall not be considered checks. "Check cashing" means providing currency for checks. (3)(4) "Check casher" means a person or entity who or that, for compensation, engages, in whole or in part, in the business of …
Sponsors
- Joseph Solomon (D) · primary sponsor
Latest actions
- : Signed by Governor
- : Transmitted to Governor
- : Senate passed in concurrence
- : Placed on Senate Calendar
- : House read and passed
- : Placed on House Calendar
- : Committee recommends passage
- : Scheduled for consideration
- : Committee recommended measure be held for further study
- : Scheduled for hearing and/or consideration
Votes
- Senate Seq #512: (June 9, 2026): 36 yea, 0 nay, passed
- House Seq #205: PASSAGE (May 26, 2026): 66 yea, 0 nay, passed
- House Committee on Corporations: Passage (May 21, 2026): 12 yea, 0 nay, passed
Subjects: FINANCIAL INSTITUTIONS
Common questions
- What is H7867?
- H7867 is a bill in the Rhode Island Legislature (2026 Regular Session): AN ACT RELATING TO FINANCIAL INSTITUTIONS -- LICENSED ACTIVITIES (Establishes requirements for capital, liquidity, and corporate governance including: audit, risk management, and board oversight, for nonbank mortgage servicers.).
- What is the status of H7867?
- Signed into law as of June 23, 2026. Latest action: Signed by Governor (June 23, 2026).
- Who sponsored H7867?
- Joseph Solomon (D).
- Where is the official record for H7867?
- On the Rhode Island Legislature website: http://webserver.rilegislature.gov/BillText/BillText26/HouseText26/H7867.pdf
Source: official Rhode Island record. Tracked by Delilah, AI for legislation across all 50 states and Congress.