STAND. COM. REP. NO.  769

Honolulu, Hawaii

                , 2009

RE:   H.C.R. No. 16

      H.D. 1

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Fifth State Legislature

Regular Session of 2009

State of Hawaii

Sir:

     Your Committee on Human Services, to which was referred H.C.R. No. 16 entitled:

"HOUSE CONCURRENT RESOLUTION ENCOURAGING STATE AND COUNTY ACTION TO STIMULATE INDIVIDUAL SAVINGS AND DEVELOPMENT OF CREDIT AND TO FORMULATE AN INVENTORY OF BANKING SERVICES AVAILABLE TO LOW-INCOME PERSONS AND THOSE WITH NO CREDIT HISTORY IN THE STATE,"

begs leave to report as follows:

     The purpose of this concurrent resolution is to encourage the State of Hawaii, the Counties of Hawaii, and local financial institutions to work in a mutually beneficial endeavor for the stimulation of personal savings accounts and the development of credit among the unbanked and underbanked population.  This concurrent resolution also encourages the formulation of an inventory of banking services available to those most in need of them.

     The Department of Commerce and Consumer Affairs testified in support of this resolution.

     Your Committee emphasizes that those most likely to be targeted by this concurrent resolution include low-income individuals and families, the less educated, female-headed households, young adults, families living in rural communities, and immigrants.  Although this list is far from complete, these are the most vulnerable to being financially underserved.

     Your Committee, in an effort to better define the financially underserved category, has amended this concurrent resolution by including the elderly and senior citizens as one of the groups to be among the most common reported to be classified as unbanked.

     As affirmed by the record of votes of the members of your Committee on Human Services that is attached to this report, your Committee concurs with the intent and purpose of H.C.R. No. 16, as amended herein, and recommends that it be referred to the Committee on Consumer Protection & Commerce in the form attached hereto as H.C.R. No. 16, H.D. 1.

Respectfully submitted on behalf of the members of the Committee on Human Services,

____________________________

JOHN M. MIZUNO, Chair