Question 1

What does the Credit Union (Amendment) Bill 2021 do?

Accepted Answer

Amends Credit Union Act 1997 to allow credit unions to provide additional financial services to members for mutual benefit, subject to board approval and required regulatory authorizations. Establishes a Credit Union Policy Committee to review Central Bank policies, provide feedback during policy development, and represent stakeholder interests in the credit union sector. Requires Central Bank to protect community-based and volunteer ethos of credit unions when regulating them, and requires Minister for Finance consent for minimum reserve requirements.

Question 2

What stage is the Credit Union (Amendment) Bill 2021 at?

Accepted Answer

As of 14 Nov 2024, the Credit Union (Amendment) Bill 2021 is at Second Stage in 33rd Dáil. Once a bill passes every stage in both Houses of the Oireachtas and is signed by the President, it becomes law.

Question 3

Who introduced the Credit Union (Amendment) Bill 2021?

Accepted Answer

The Credit Union (Amendment) Bill 2021 was sponsored by Marian Harkin, and was introduced on 20 Oct 2021.

Credit Union (Amendment) Bill 2021

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Stage timeline What do these stages mean?

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