MichiganMichigan-chartered credit unions would report emergency closures to state regulators
Michigan-chartered credit unions would report closures for emergencies or approved observance days to the state regulator using email, voicemail, or another approved method.
What it does
When Michigan-chartered credit unions close for emergencies or approved observance days, they would notify the state regulator. Other government bodies would receive notice when required by law.
Argument forAllowing email and voicemail could help credit unions report emergency closures quickly while staff manage the disruption.
Argument againstCredit union staff may have to manage notices to multiple government bodies while handling an emergency closure.
More detail
Michigan-chartered credit unions would notify the state regulator when closing under these rules. This covers main offices and branches closed for emergencies or approved observance days. Observance days must be designated by the president or Michigan governor and approved for closure by the regulator. Notices could use email, voicemail, or another method set by the regulator. Other government bodies would receive notice when required by law.
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Where it stands
- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2026
- Nov 5referred to Committee on FinanceLatest
- Vote recorded PASSED ROLL CALL # 266 YEAS 33 NAYS 0 EXCUSED 5 NOT VOTING 0. Result: pass.Upper
- Nov 5read a first timeMinor
- Nov 5received on 11/05/2026Minor
- Nov 5PASSED ROLL CALL # 266 YEAS 33 NAYS 0 EXCUSED 5 NOT VOTING 0Passed Senate
- Nov 5PLACED ON IMMEDIATE PASSAGE
- Nov 5RULES SUSPENDED
- Nov 5PLACED ON ORDER OF THIRD READING WITH SUBSTITUTE (S-2)
- Nov 5SUBSTITUTE (S-2) CONCURRED IN
- Nov 5REPORTED BY COMMITTEE OF THE WHOLE FAVORABLY WITH SUBSTITUTE (S-2)Minor
- Oct 27REFERRED TO COMMITTEE OF THE WHOLE WITH SUBSTITUTE (S-1)Minor
- Oct 27REPORTED FAVORABLY WITH SUBSTITUTE (S-1) 10/14/2026Minor
- Jun 10REFERRED TO COMMITTEE ON FINANCE, INSURANCE, AND CONSUMER PROTECTIONMinor
- Jun 10INTRODUCED BY SENATOR KEVIN DALEYIntroduced
- Nov 5referred to Committee on FinanceLatest
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