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HR9900119th CongressWALLET

Privately Insured Credit Unions Conversion Modernization Act

Sponsored By: Representative Davidson, Warren [R-OH-8]

Introduced

Summary

Eases conversion rules for privately insured credit unions. The bill would delete the 20% membership turnout requirement for conversion votes and require a minimum 90-day period for the relevant portion of the conversion process.

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  • Members: Fewer participating voters could decide conversion outcomes, so smaller groups may determine whether a credit union converts.
  • Privately insured credit unions: Boards would face a lower participation barrier to convert and would have at least 90 days to complete and communicate conversion steps.
  • Federal oversight and budgets: The change is procedural and does not create new funding or federal programs.

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Bill Overview

Analyzed Economic Effects

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

Conversion vote rules for credit unions

If enacted, this bill would change how privately insured credit unions hold conversion votes. It would remove the rule that at least 20% of total members must participate for a valid conversion vote. It would also replace the old short-timing rule with a minimum 90-day notice or voting period. This could make some conversions easier to approve but would weaken member turnout protections.

Sponsors & CoSponsors

Sponsor

Davidson, Warren [R-OH-8]

OH • R

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

No roll call votes available for this bill.

View on Congress.gov
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