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House advances update to credit‑union law expanding CDFI access
Summary
The Connecticut House passed substitute HB 7083, an annual update to credit‑union statutes that narrows insider definitions, scales non‑member deposit limits by credit‑union size and expands eligible participation in the federal CDFI program; amendment negotiated with industry was adopted and the bill passed on a roll call.
The Connecticut House on the floor passed substitute HB 7083, a package of technical and policy updates to the state's credit‑union statutes intended to broaden community development finance access and tighten conflict‑of‑interest rules.
Representative Doucette, chair of the Banking Committee, said the measure is “an annual update to the credit union statutes,” explaining the bill expands Connecticut credit unions’ ability to participate in the U.S. Treasury’s Community Development…
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