Washington, July 23 -- Representative Warren Davidson issued the following press release:
Today, July 23, 2026, U.S. Representative Warren Davidson (R-OH) introduced the Privately Insured Credit Unions Conversion Modernization Act, also known as the Private Insurance Parity Act, legislation to remove outdated federal barriers that make it difficult for state-chartered credit unions to convert to private insurance or merge with a privately insured credit union.
Under current law, at least 20 percent of a credit union's entire membership must participate in a vote to convert to private insurance or merge with a privately insured credit union. If that participation threshold is not met, the proposal cannot be approved regardless of how membe...