Privately Insured Credit Unions Conversion Modernization Act

Warren Davidson

Republican · OH · Representative

Source: Congress.gov · FEC

No cosponsors on record. Bills can pass without cosponsors — this often means the sponsor introduced the bill alone, either because it's a messaging bill, a chairman's mark, or simply early in the legislative cycle.

Referred to the House Committee on Financial Services.

2026-07-23

Source: Congress.gov

The legislation would update rules that allow privately insured credit unions to convert to federal charters, making the process more flexible and modern for these financial institutions. Credit unions that switch to federal oversight would gain access to updated regulations and potentially streamlined procedures. This change primarily affects credit union members and the institutions themselves, which serve millions of Americans as alternatives to traditional banks.

AI-assisted summary generated from the official bill metadata (title, subjects, actions) sourced from Congress.gov. Cached and reviewed. Always verify against the official text linked below.

[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [H.R. 9900 Introduced in House (IH)] <DOC> 119th CONGRESS 2d Session H. R. 9900 To amend the Federal Credit Union Act with respect to conversion modernization for privately insured credit unions. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES July 23, 2026 Mr. Davidson introduced the following bill; which was referred to the Committee on Financial Services _______________________________________________________________________ A BILL To amend the Federal Credit Union Act with respect to conversion modernization for privately insured credit unions. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Privately Insured Credit Unions Conversion Modernization Act''. SEC. 2. CONVERSION MODERNIZATION FOR PRIVATELY 6 INSURED CREDIT UNIONS. Section 206(d)(2) of the Federal Credit Union Act (12 U.S.C. 1786(d)(2)) is amended-- (1) in the first sentence, by striking ``in a vote in which at least 20 per centum of the total membership of the credit union participates''; and (2) in the second sentence, by striking ``not more than thirty nor less than seven days'' and inserting ``not less than 90 days''. <all>

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