The House-passed, anti-big bank public funds bill geared to funnel $5 billion in state funds into credit unions and community banks cleared a new hurdle this week in the New Mexico Senate.
The measure, which lately has drawn national media attention because of its sentiment against Bank of America and Wells Fargo, was unanimously vote out of the Senate Corporations and Transportation Committee Wednesday night.
The proposed bill is now before the Senate Finance Committee and once it makes its way through that panel the next step will be the Senate floor eventually heading to Gov. Bill Richardson who is expected to sign it, said a spokesman for the Credit Union Association of New Mexico.
Continue Reading for Free
Register and gain access to:
- 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.
