BIRMINGHAM, Ala. (2/18/14)--The Alabama House Financial Services Committee unanimously voted last week to give a favorable report to a bill that would update the State Credit Union Act.
The bill, which updates numerous sections of the Alabama Credit Union Act, allows credit unions in the state to operate more effectively in the ever-changing world of financial services (eSignal Feb. 14).
HB 165 is now in position to be taken up by the entire Alabama House of Representatives.
Earlier this session the companion to HB 165--SB 212--was passed out of the Senate Banking and Insurance Committee.
The government affairs team is working to have both bills voted on and passed by their respective chambers, according to the league.