In Brief: N.Y. Groups Pushing For Guardian Accounts

ALBANY, N.Y. - New York credit unions are pushing a bill in the state legislature that would allow them to accept court-ordered deposits for guardians of infants' and minors' funds.

"Credit unions should be given the same authority as other financial institutions where guardian accounts are concerned," New York State Credit Union League president Charles M. Whitney said in a statement. "There's no reason for the courts to continue to direct our members to go elsewhere for services."

A similar proposal was shot down last year, but to get wider support, the bill would include savings banks. Currently only banks, trust companies, and savings and loan associations may accept the deposits.

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