The Senate last night followed the House's action earlier in the day and passed a bill that that includes a temporary stabilization fund for corporate credit unions.
The bill, which includes provisions relating to financial services and housing, passed by a voice vote in the Senate. This followed a 367-54 vote in the House several hours earlier. The measure now awaits President Obama's signature.
"As we move forward, I am confident that the program will be of tangible benefit to the credit union industry in managing the costs to maintain a healthy and well-capitalized Share Insurance Fund," NCUA Chairman Michael E. Fryzel said in a statement.
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.
