TennesseeSB 1870114th General Assembly (2025-2026)SenateWALLET

AN ACT to amend Tennessee Code Annotated, Title 45, Chapter 2; Title 45, Chapter 4 and Title 45, Chapter 7, relative to financial institutions.

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Bill Overview

Analyzed Economic Effects

3 provisions identified: 1 benefits, 2 costs, 0 mixed.

Federal insurance for state credit unions

State credit unions must get and keep federal share and deposit insurance through the National Credit Union Administration before they open. The commissioner can allow a different setup in limited cases. The commissioner sets the type and amount of coverage and can issue rules. The commissioner must weigh safety, public confidence, economic progress, industry views, and other relevant factors.

Longer gaps between state bank exams

State-chartered banks no longer have a required full-scope exam every three years. The commissioner sets exam timing and can extend exams to every 24 months or longer. In setting the cycle, the commissioner considers management quality, capital, risk, internal controls, federal exam cycles, and other factors.

New oversight rules for credit unions

The commissioner visits and examines each state credit union at least yearly, but can extend that to 24 months or longer. The commissioner considers management, capital, internal controls, federal exam cycles, and other relevant factors. The commissioner can order extra exams and see records to protect members. The law also updates wording to match this schedule and repeals Part 11 of the credit union law.

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Sponsors & Cosponsors

Sponsor

Jack Johnson
Republican • Senate

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

All Roll Calls

Yes: 40 • No: 0

Senate vote • 2/23/2026

FLOOR VOTE: Motion to Adopt 2/23/2026

Yes: 32 • No: 0

Senate vote • 2/17/2026

SENATE COMMERCE AND LABOR COMMITTEE

Yes: 8 • No: 0

Actions Timeline

Pub. Ch. 671
4/13/2026
Effective date(s) 04/07/2026
4/13/2026
Signed by Governor.
4/7/2026Senate
Transmitted to Governor for action.
3/27/2026Senate
Signed by H. Speaker
3/26/2026House
Signed by Senate Speaker
3/25/2026Senate
Enrolled and ready for signatures
3/24/2026Senate
Subst. for comp. HB.
3/23/2026House
Passed H., Ayes 82, Nays 0, PNV 2
3/23/2026House
Rcvd. from S., held on H. desk.
2/26/2026House
Passed Senate, Ayes 32, Nays 0
2/23/2026Senate
Engrossed; ready for transmission to House
2/23/2026Senate
Placed on Senate Consent Calendar 2 for 2/23/2026
2/20/2026Senate
Recommended for passage, refer to Senate Calendar Committee
2/17/2026Senate
Placed on Senate Commerce and Labor Committee calendar for 2/17/2026
2/10/2026Senate
Passed on Second Consideration, refer to Senate Commerce and Labor Committee
2/2/2026Senate
Introduced, Passed on First Consideration
1/22/2026Senate
Filed for introduction
1/21/2026Senate

Bill Text

Enrolled / Public Chapter
PDF
Fiscal Note
PDF
Introduced
PDF

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