BOSTON - (12/30/04) -- Gov. Mitt Romney was expected tosign a financial services reform bill that will, among otherthings, allow state chartered credit unions to conduct board andother votes by mail ballot. Current law limits state charters tovoting in person. The bill also widens the arcane limit onbranching for state charters, broadening to 50 miles from a countyof operations, to 50 miles, the area in which a credit union mayestablish a branch. The bill also streamlines the process forrelocating or closing branches and ATMs, incorporates electronicbanking into state laws, and modernizes laws onmortgages.
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