Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
Texas Senate passes revision to state CU Act
AUSTIN, Texas (4/24/09)--The Texas Senate sent to the Texas House revisions sought by the Texas Credit Union Department (TCUD) and credit unions to the state Credit Union Act on Wednesday by a 30-0 vote. The House Pensions, Investments, and Financial Services Committee also heard the House companion bill--House Bill 3200 by State Rep. Dan Flynn (R-2) Wednesday. The Texas Credit Union League (TCUL) thanked the Senate bill sponsor--State Sen. Kip Averitt (R-22)--for his leadership in getting the bill through the Senate Business and Commerce committee and the Senate chamber (LoneStar Leaguer April 23). Every few years, the TCUD is charged with reviewing the act and rules to keep them modernized. The last major revisions to the state Credit Union Act occurred in the 2003 session. The bill has a number of sections dealing with TCUD powers, credit union powers, and board governance issues. Current law provides for both regulatory oversight and corporate governance of credit unions. The bill amends the finance code to provide for additional regulatory oversight of credit union activities and addresses provisions concerning corporate governance. It also adds provisions to the finance code for regulatory coordination between state and federal agencies. The bill provides the credit union commissioner additional regulatory and supervisory oversight of credit union activities and amends various provisions relating to the administration and operation of credit unions.


RSS print
News Now LiveWire
Louise Herring's birthday is Saturday. 105 years later, her legacy lives on through her kids http://t.co/oMqGADmo0d http://t.co/T3NmS9NqEY
16 minutes ago
#Creditunions in PA and NJ hosted retirement fairs this week @PCUA and @NJCUL report.
1 hours ago
.@TheCCUL's Radebaugh suggests 2nd #RBC comment period in letter to @TheNCUA #NewsNow http://t.co/RylFuynT6g
1 hours ago
#NewsNow today Herring legacy carried forward with merger http://t.co/oMqGADmo0d
3 hours ago
.@MICreditUnions-supported electronic lien titling bill unanimously passes Assembly, on way to Senate http://t.co/6He1JG2ucr
4 hours ago