Learn how to manage what you can, while preparing for unexpected bumps and potholes, as you journey along agriculture’s rocky road at Bell Bank's 6th AgViews Live, a FREE agricultural seminar being held July 25 in Fargo, ND, July 26 in Sioux Falls, SD, and July 27 in Wisconsin Dells, WI.
Find out more here: https://bit.ly/3N8h7er
Contact Kelly Hegney at 701-451-7536 or email@example.com to register by July 12!
View the Iowa Legislative Bill Tracker
Bill banning credit unions from buying banks eligible for Senate debate
Legislation that prohibits a credit union from purchasing an Iowa-chartered bank passed out of the Senate Commerce Committee last week and is now eligible for debate by the full Senate. CBI urges members to contact their Senator and urge them to support SF 530 when it comes up for debate.
The need for this legislation was brought about when Green State Credit Union purchased First American Bank in Fort Dodge in 2019 and completed the transaction without receiving the required approval from the Iowa Division of Banking (IDOB). CBI’s Board affirmed its support for this legislation at its January Board meeting, and CBI testified in favor of the legislation in a Senate subcommittee meeting on the bill. While prohibiting the purchase of a bank by a credit union, SF 530 would still allow for the sale or transfer of participations or real property assets.
By Shane Ferrell, Vice President of Product Strategy - CSI
written by Loren Prairie, President - PCI Performance Management
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