The Senate passed the Credit Union Share Insurance Fund Parity Act Thursday, which would direct the NCUA to issue a regulation extending share insurance to owners of funds held in trust accounts opened and managed by credit union members.

“This much needed legislation is an important first step in removing barriers that impede credit unions from fully serving their members. CUNA thanks Senators Angus King (I-Maine) and Mark Warner (D-Va.) for standing with credit unions to bring parity to the not-for-profit cooperatives, their members, and the communities they serve,” CUNA President/CEO Jim Nussle said.

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