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House passes compromise to give smaller credit unions broader lending powers
Utah House of Representatives · March 4, 2008
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Summary
First substitute Senate Bill 296, a compromise backed by banks and credit unions, passed the House. The bill raises certain consumer‑loan caps, indexes a $250,000 business‑loan limit for inflation and waives a six‑month membership requirement, passing 69–0.
The Utah House approved first substitute Senate Bill 296, a measure negotiated between banks and credit unions that makes three principal changes to state credit‑union law. House sponsor Representative Garn told the chamber the bill "does 3 things": it raises…
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