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Committee advances credit-union revisions despite objections over community-development limit
Summary
The Banking Committee voted to send HB7083 (LCO 6188) to the floor after debate. Senator Miller objected, saying changes would limit the Community Development Financial Institution option to a single credit union and exclude marginalized communities.
The Banking Committee voted to send House Bill 7083 (LCO 6188), a package of revisions to Connecticut’s credit union statutes, to the floor after a substantial debate over a provision limiting how many credit unions may be designated for a community-development role.
Senator Miller, a long-serving committee member who said she has worked to expand access to capital for the unbanked and underbanked, criticized a change in section 3 that she said would permit only one credit union to become a Community Development Financial Institution…
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