{"id":5290,"date":"2026-03-27T09:58:22","date_gmt":"2026-03-27T13:58:22","guid":{"rendered":"https:\/\/www.localresultsnow.com\/research\/?p=5290"},"modified":"2026-04-22T09:06:09","modified_gmt":"2026-04-22T13:06:09","slug":"mantzavinos-bush-introduce-banking-modernization-legislation","status":"publish","type":"post","link":"https:\/\/www.localresultsnow.com\/research\/mantzavinos-bush-introduce-banking-modernization-legislation\/","title":{"rendered":"Mantzavinos, Bush Introduce Banking Modernization Legislation"},"content":{"rendered":"\t\t
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Mantzavinos, Bush Introduce Banking Modernization Legislation<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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DOVER \u2014 Following a press conference Monday morning with leaders from Delaware\u2019s financial sector, Sen. Spiros Mantzavinos and Rep. Bill Bush filed legislation to modernize Delaware\u2019s banking laws while safeguarding consumers in today\u2019s rapidly-evolving financial landscape.

\n\n\u201cIn 1981, our predecessors in the General Assembly passed the Financial Center Development Act, paving the way for Delaware to become the \u2018credit card capital\u2019 of the nation. That was decades ago \u2014 and much has changed in our financial sector in that time,\u201d said Sen. Mantzavinos, chair of the Senate Banking, Business, Insurance & Technology Committee. \u201cModernizing Delaware\u2019s banking code is long overdue. With this package of legislation, we\u2019re not vastly changing our identity in the financial sector, but we\u2019re continuing the tradition that made us successful in the first place.\u201d \n

\nIn the years following the passage of the Financial Center Development Act, Delaware gained thousands of new jobs in the finance sector. Today, the financial sector accounts for roughly 9% of Delaware\u2019s jobs, which is nearly double the national average. \n

\n\u201cOur administration is focused on attracting the jobs of the future to the First State, and that includes continuing to foster an innovative banking ecosystem that will open doors not just for workers and companies, but for every single person who participates in our economy,\u201d said Governor Matt Meyer. \u201cThis legislative package sends a signal loud and clear: here in Delaware, we\u2019re democratizing our financial services and lowering the barriers to entry, making it easier for all residents to send, receive and save money with just an internet connection. Thank you to Sen. Mantzavinos and Rep. Bush for your leadership in the General Assembly, and for making today\u2019s announcement possible.\u201d\n

\nThe press conference took place at the Center for Accelerating Financial Equity, located at the FinTech Innovation Hub on the University of Delaware\u2019s STAR Campus. \n

\n\u201cAt UD, our fintech mission is to ensure that everyone has the tools, knowledge and access to build stable futures for themselves and their families,\u201d said University of Delaware President Laura Carlson. \u201cWe\u2019re engaged in pioneering fintech research and exploring a future pilot program to use stablecoin on campus \u2014 innovations that are only possible because of the creative fintech ecosystem we\u2019re cultivating on campus and with our community partners.\u201d\n


Senate Bill 16<\/a>\n , also known as the Delaware Banking Modernization Act, is the first major revision to Title 5 of the Delaware Code since the 1981 passage of the Financial Center Development Act. SB 16 updates Delaware Code by defining digital assets, expanding the State Bank Commissioner\u2019s authority, modernizing corporate governance and organizational requirements for state-chartered banks and trust companies, facilitating interstate trust company operations and conversions, and expanding the authority of out-of-state financial institutions to act as fiduciaries in Delaware.<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Mantzavinos, Bush Introduce Banking Modernization Legislation DOVER \u2014 Following a press conference Monday morning with leaders from Delaware\u2019s financial sector, Sen. Spiros Mantzavinos and Rep. Bill Bush filed legislation to modernize Delaware\u2019s banking laws while safeguarding consumers in today\u2019s rapidly-evolving financial landscape. \u201cIn 1981, our predecessors in the General Assembly passed the Financial Center Development […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_angie_page":false,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"page_builder":"","footnotes":""},"categories":[1],"tags":[],"class_list":["post-5290","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/www.localresultsnow.com\/research\/wp-json\/wp\/v2\/posts\/5290","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.localresultsnow.com\/research\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.localresultsnow.com\/research\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.localresultsnow.com\/research\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.localresultsnow.com\/research\/wp-json\/wp\/v2\/comments?post=5290"}],"version-history":[{"count":10,"href":"https:\/\/www.localresultsnow.com\/research\/wp-json\/wp\/v2\/posts\/5290\/revisions"}],"predecessor-version":[{"id":6258,"href":"https:\/\/www.localresultsnow.com\/research\/wp-json\/wp\/v2\/posts\/5290\/revisions\/6258"}],"wp:attachment":[{"href":"https:\/\/www.localresultsnow.com\/research\/wp-json\/wp\/v2\/media?parent=5290"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.localresultsnow.com\/research\/wp-json\/wp\/v2\/categories?post=5290"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.localresultsnow.com\/research\/wp-json\/wp\/v2\/tags?post=5290"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}