HB165 Alabama 2014 Session

Updated Feb 24, 2026

Summary

Primary Sponsor: Greg Wren
Republican
Session: Regular Session 2014
Title: Credit Unions, Credit Union Administration, supervision and regulation of credit unions further provided for, fees, Secs. 5-17-3, 5-17-6, 5-17-7, 5-17-8, 5-17-11, 5-17-15, 5-17-16, 5-17-19, 5-17-22, 5-17-45, 5-17-56 am'd.; Secs. 5-17-25 to 5-17-28, inclusive, 5-17-49, 5-17-53, 5-2A-100 to 5-2A-103, inclusive, repealed
Summary: HB165 updates Alabama's credit union regulation by moving oversight to the Alabama Credit Union Administration, expanding powers and fees, and clarifying mergers, conservatorship, and interstate operations.
What This Bill Does
It transfers regulatory authority from the Bureau of Credit Unions and the Superintendent of Banks to the Alabama Credit Union Administration and moves related assets, funds, and staff. It allows expanded powers for technology and off-premises services, with requirements for written permission and potential interstate cooperative arrangements. It establishes revised fee structures, including asset-based annual operating fees and organization fees, plus penalties for late payments and a dedicated fund for administration. It strengthens oversight and enforcement, including mandatory reporting and examinations, suspension and cease-and-desist powers, conservatorship provisions, and clear merger and open-meeting rules.

Who It Affects
Alabama credit unions and their members, who would operate under a new regulatory framework, updated fee structure, governance requirements, and expanded service options.
Credit unions organized in other states seeking to operate in Alabama, who would need to meet eligibility criteria and obtain approval to conduct business in Alabama.

Key Provisions
Transfers supervision and related assets/funding from the Bureau of Credit Unions and the Superintendent of Banks to the Alabama Credit Union Administration.
Authorizes expanded powers for technology and off-premises operations, with advance permission and regulatory oversight; permits reciprocal arrangements with other states and federal bodies.
Implements a revised fee structure based on asset size, allows temporary higher fees to prevent deficits, and requires a one-time organization filing fee; funds go to a special state fund for administration.
Enhances enforcement tools, including mandatory annual reporting and examinations, suspension/cessation orders, conservatorship authority, and rules for mergers, liquidations, and open meetings.

AI-generated summary using openai/gpt-5-nano on Feb 24, 2026. May contain errors — refer to the official bill text for accuracy.
Subjects: Banks and Banking