BEAVERTON, Ore. – A bill allowing credit unions to accept deposits from a variety of public entities is on its way to the House floor for a vote. S.B. 331 passed out of the House Business, Labor & Consumer Affairs Committee with a five to one vote. A subsequent referral for the measure to move to the House Revenue Committee was rescinded. The bill already passed the state Senate. The House committee did not move on a separate bill introduced by the Oregon Bankers Association to impose a 6.6% corporate excise tax on CUs with more than $100 million in assets. The bankers attempted unsuccessfully to combine that bill with the public funds measure. Pamela Leavitt, svp, governmental affairs & public relations for the Credit Union Association of Oregon said CUAO remains optimistic about the progress of Senate Bill 331.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.