Bill Would Allow All CUs to Serve Underserved Areas

Reps. Tim Ryan (D-OH) and Donald Norcross (D-NJ) on Tuesday introduced a bill, H.R. 5541 -- the Financial Services for the Underserved Act, that would allow credit unions of all charter types to add underserved areas to their fields of membership.

Rep. Ann Kirkpatrick (R-AZ) has signed on as a cosponsor of the bill.

Currently, only credit unions with multiple-group charters can add underserved areas to their fields of membership.