SAN JOSE, Calif. – Nearly 18,000 votes were cast by members of $1.6-billion Technology CU in response to an attempt by management and the board to convert the credit union to a mutual savings bank.
Credit Union Journal has learned 17,995 total votes were cast, with 4,136 voting for the charter conversion and 13,819 voting against. Last Thursday Tech CU announced the conversion attempt had been resoundingly defeated by 77% of members who voted.
The newest version of the House housing bill would make a ban on institutional investors owning some homes less harsh than the Senate version by removing a seven year mandate on selling build-to-rent homes.
The National Credit Union Administration Tuesday submitted a rule to the Office of Management and Budget stating that federal law preempts state laws on interchange, blocking an Illinois statute banning the collection of swipe fees on taxes and tips.
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