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Credit Union and Bank Development District Bill Passes Texas Senate
Tuesday, May 26, 2015 7:00 AM

HB 1626 which authorizes the creation of credit union and bank development districts passed the Texas Senate by a vote of 27 to 3 on Monday and the bill now goes to the governor.

The Credit Union and Finance Commissions would be required to adopt rules governing the designation of credit union or banking development districts by January 1, 2016. They are responsible for the administration and monitoring of the districts and for developing the rules regarding the criteria for designation of the districts. 

For greater detail on this program, see the Leaguer article from Friday, May 22, 2015. 

Contact Jeff Huffman, president, Texas Credit Union Association, at 469-385-6488 or jhuffman@txcua.coop for more information.