Bill > HB2537

This bill makes several changes to Tennessee law concerning financial institutions, primarily focusing on credit unions and the frequency of examinations for both banks and credit unions. It allows the commissioner of financial institutions to extend the required examination period for banks from every three years to up to twenty-four months, or longer, based on factors like management quality and capitalization. For credit unions, the bill removes the requirement for state-chartered credit unions to be members of the National Credit Union Association for share and deposit insurance, instead giving the commissioner the authority to determine the type and amount of insurance required, considering the credit union's safety, economic impact, and public confidence. Additionally, the bill revises the examination frequency for credit unions to also allow for extensions beyond one year, based on similar considerations as banks, and it removes a specific part of the law related to credit union share insurance corporations. Finally, it updates a definition to include federally insured depository financial institutions and other related entities.

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https://wapp.capitol.tn.gov/apps/Billinfo/Default?BillNumber=HB2537&ga=114