Recently, the Connecticut League was instrumental in Governor Malloy signing legislation, H. 6520, that will further enhance the ability of smaller Connecticut financial institutions to invest in local communities and provide financial services in under-served markets. The newly enacted bill updates the Treasurer’s Community Bank and Credit Union Initiative program by increasing the amount of assets a community institutions may have from $500 million to $1 billion while remaining eligible for available investment funds.

H. 6520 becomes law effective immediately.