Committee debates credit-union merger rules, joint-account clarifications in H.648
DFR proposed streamlining credit-union merger approvals so only the merging (disappearing) credit union must vote, clarified joint-deposit and co‑borrower rules for credit unions, and explained the executive-committee requirement when governing bodies meet infrequently; committee members raised concerns about member voting rights.
The full story
Department of Financial Regulation staff told the committee H.648 applies many bank-style governance rules to credit unions and clarifies several long-standing practices.
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