Removing Barriers Blog

Wisconsin Credit Union League Pursues Charter Modernization in Cooperation with State Regulator
Posted February 01, 2016 by CUNA Advocacy

After a year of collaboration between credit union representatives and the state regulator, the Wisconsin Credit Union League successfully introduced a credit union act modernization bill, A 807.

The measure provides credit unions with clarity and greater transparency by:

  • Replacing an approval process for new or relocated ATMs with a notification process;
  • Giving the regulator the discretion to accept a federal examination for purposes of satisfying the 18 month exam requirement;
  • Allowing credit unions to establish the amount of charitable contributions they make;
  • Addressing the ramifications of a director's conflict of interest; and
  • Creating the right of members to gain access to non-confidential credit union records.