MA S584

Bill

MA S584

Relative to interstate branching of a credit union and the Massachusetts Credit Union Share Insurance Corporation

Introduced
01/23/2017

In Committee
01/23/2017

Crossed Over

Passed

Dead
12/31/2018

Introduced Session

190th General Court

Bill Summary

For legislation relative to interstate branching of a credit union and the Massachusetts Credit Union Share Insurance Corporation. Financial Services.

AI Summary

This bill amends the laws governing interstate branching of credit unions and the Massachusetts Credit Union Share Insurance Corporation. Specifically, it removes the requirement that a credit union have a usual place of business within the Commonwealth to operate in Massachusetts. It also updates the language around the insurance coverage provided by the Massachusetts Credit Union Share Insurance Corporation to cover excess shares and deposits of members, including those from credit unions established in other states or at the federal level. The bill aims to modernize and streamline the regulatory framework for credit unions operating across state lines.

Committee Categories

Business and Industry

Sponsors (5)

Carole Fiola (D), Pat Haddad (D), Patrick O'Connor (R), Michael Rodrigues (D), Paul Schmid (D),

Last Action

Accompanied a study order, see S2496 (on 04/30/2018)

Official Document

https://malegislature.gov/Bills/190/S584

(8 Companion Bills)

Version:

Document Type	Source Location
State Bill Page	https://malegislature.gov/Bills/190/S584
Bill	https://malegislature.gov/Bills/190/S584.pdf

Bill	Bill Name	Last Action	Type
H1123	To allow municipalities to invest in credit unions	No further action taken	Similar To
H590	Relative to capital of credit unions	Accompanied a study order, see H4778	Similar To
S2496	Order relative to authorizing the joint committee on Financial Services to make an investigation and study of certain current Senate documents relative to financial services issues	Discharged to the committee on Senate Rules	Replaced by
S2556	Modernizing the Credit Union Laws	Bill reported favorably by committee and referred to the committee on Senate Ways and Means	Similar To
S541	To protect credit unions	Accompanied a study order, see S2496	Similar To
S577	Relative to public funds	Accompanied a study order, see S2496	Similar To
S585	Relative to the investment authority of the Massachusetts Credit Union Share Insurance Corporation	Accompanied a study order, see S2496	Similar To
S587	Modernizing the Credit Union Laws	Accompanied a new draft, see S2556	Similar To

Bill > S584

summary

Introduced Session

Bill Summary

AI Summary

Committee Categories

Sponsors (5)

Last Action

Official Document

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