Latest action: Referred to the House Committee on Financial Services.
Referred to one or more standing committees for review, hearings, and possible markup.
Specific committees not parsed from action data.
The committee may hold hearings, amend the bill, or let it die without action.
Next: Reported
Full chamber floor — Speaker / Majority Leader controls scheduling
Allows credit unions with private insurance to convert to federal charters more easily.
The problem
Privately insured credit unions face regulatory barriers when trying to switch from state to federal oversight, limiting their operational flexibility and modernization options.
The proposal
Streamlines the conversion process for state-chartered credit unions with private deposit insurance to become federally chartered institutions under NCUA regulation.
The impact
Affects privately insured credit unions, their members, and federal regulators. May increase federal oversight of previously state-regulated institutions and change deposit insurance arrangements.
Updates regulations that haven't kept pace with how credit unions operate today. Removes unnecessary barriers that prevent institutions from adapting to modern banking. Gives credit unions more flexibility to serve members better.
Eliminates complications that arise from having both state and private insurance systems. Creates a clearer, simpler path for credit unions to operate under one consistent federal framework.
Federal oversight through NCUA could strengthen examination standards and risk management. Consolidation under one regulator may enhance consistency in how credit unions are monitored.
Shifts power from state regulators to federal authorities, limiting states' ability to oversee credit unions operating within their borders. States lose regulatory control and fee revenue from chartering.
Switching deposit insurance systems could affect how member deposits are protected. Different insurance rules and limits may apply to existing members' accounts.
Credit unions converting charters face expenses for new applications, compliance changes, and system updates. Smaller institutions may struggle to afford these transition costs.
Consolidating under federal regulation may eliminate diversity in how credit unions can operate. Less regulatory competition could reduce innovation and member-focused services.
Generated by AI from the bill text. Not a prediction and not legal or policy advice. The percentage is the model's own rating of each item — self-reported, and not a measure of how accurate it is.
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Individual contributions, grouped by employer · FEC
Where their individual donors work · 2026 cycle
Money from people who work there, not from the company. Not tied to this bill.
Itemized individual contributions via FEC, grouped by the employer each contributor self-reported. Companies and unions cannot contribute to federal candidates from their treasuries, so these totals are money from people who work at an employer — never from the organization itself. They are campaign contributions covering a full election cycle and are not connected to this bill.
Senate LDA lobbying disclosures
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