CUNA to Push for 'Modernizing' Federal Credit Union Act
Any examination of the federal law should include allowing credit unions to use supplemental capital in certain circumstances.
By David Baumann |
Updated on January 02, 2018
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The federal Credit Union Act is outdated and needs to be modernized, CUNA officials said Monday, in announcing a comprehensive effort to send a plan to Capitol Hill during the next Congress.
“It’s been about 20 years since the Credit Union Act has been updated,” said Ryan Donovan, CUNA’s chief advocacy officer. During that time, state laws governing credit unions have changed, as have federal banking laws.
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