Legislation Changes Impacting Checking Accounts in Credit Unions, 1979-04-20

Item

Identifier: CAC_CC_109_4_22_23_0020

Staff Only

Legislation Changes Impacting Checking Accounts in Credit Unions, 1979-04-20

The text discusses a recent court ruling and proposed legislation related to checking accounts in credit unions. The U.S. Court of Appeals ruled certain financial transactions illegal, including bank, savings and loan, and credit union systems. A bill, H.R. 3864, was introduced to allow interest payments on demand checking accounts and give credit unions the ability to offer checking accounts. The House Banking Committee held hearings on the bill, with markup beginning on July 12. The status of the bill is uncertain, and the writer will monitor the situation and consider input from stakeholders.

Dates

1979-04-20

Language of Materials

English

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