Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Committee sends bill to remove cap on state deposits at credit unions to the floor with due-pass recommendation
Summary
Senate Bill 1103 would remove a 1986 cap limiting credit unions’ ability to accept state deposits beyond federally insured amounts and require collateralization for uninsured deposits; the treasurer supported the measure and the committee recommended it pass.
The Senate State Affairs Committee voted to send Senate Bill 1103 to the Senate floor with a recommendation that it pass. The bill removes a cap, in place since 1986, that limits credit unions’ ability to accept state deposits above the federally insured amount and requires collateralization for any uninsured portion of those deposits.
Sponsor Zach…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
