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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.

Sponsored By: Jack Johnson (Republican)

Became Law

Financial Institutions, Dept. of

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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.

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

  1. Pub. Ch. 671

    4/13/2026

  2. Effective date(s) 04/07/2026

    4/13/2026

  3. Signed by Governor.

    4/7/2026Senate

  4. Transmitted to Governor for action.

    3/27/2026Senate

  5. Signed by H. Speaker

    3/26/2026House

  6. Signed by Senate Speaker

    3/25/2026Senate

  7. Enrolled and ready for signatures

    3/24/2026Senate

  8. Subst. for comp. HB.

    3/23/2026House

  9. Passed H., Ayes 82, Nays 0, PNV 2

    3/23/2026House

  10. Rcvd. from S., held on H. desk.

    2/26/2026House

  11. Passed Senate, Ayes 32, Nays 0

    2/23/2026Senate

  12. Engrossed; ready for transmission to House

    2/23/2026Senate

  13. Placed on Senate Consent Calendar 2 for 2/23/2026

    2/20/2026Senate

  14. Recommended for passage, refer to Senate Calendar Committee

    2/17/2026Senate

  15. Placed on Senate Commerce and Labor Committee calendar for 2/17/2026

    2/10/2026Senate

  16. Passed on Second Consideration, refer to Senate Commerce and Labor Committee

    2/2/2026Senate

  17. Introduced, Passed on First Consideration

    1/22/2026Senate

  18. Filed for introduction

    1/21/2026Senate

Bill Text

  • Enrolled / Public Chapter

    PDF

  • Fiscal Note

    PDF

  • Introduced

    PDF

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