The House of Representatives passed the
sunset bill that continues the Credit Union Department for another 12
years. This is the final hurdle for the bill before moving to Gov. Greg
Abbott’s desk for signature.
The Sunset Commission determined that the Credit Union Department should continue until 2033 and stated, “Texas-chartered credit unions have fared well under the state’s current regulatory framework; the Sunset Commission again found the existing organizational structure is the best option, and transferring the department would have no benefit at this time.”
SB 707 makes the following changes:
“We are grateful to Sen. Angela Paxton and Rep. Stan Lambert for the hard work required to get this legislation to the finish line,” said Cornerstone League President/CEO Caroline Willard. “It has been an extraordinary session by any standard, and the Sunset Commission had the option to put off their reviews until 2023.”
Willard added, “This successful effort is also the result of a year and a half of diligent work by the Cornerstone League and particularly our advocacy team, led by Texas Credit Union Association Executive Director Gili Carter. This is the kind of win that really shines a spotlight on the value of advocacy we provide on behalf of our member credit unions.”
If you have questions about this bill or the sunset review, please contact Gili Carter at gcarter@txcua.coop.
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