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HB 7083 Connecticut House · 2025 Regular Session

AN ACT CONCERNING VARIOUS REVISIONS TO THE CREDIT UNION STATUTES RELATING TO NONMEMBER PAYMENTS, MEMBER BUSINESS LOANS, CHARITABLE CONTRIBUTIONS, EXTENSIONS OF CREDIT, CAPITAL AND NET WORTH.

HB 7083 revises Connecticut credit union laws to update rules around nonmember fees, member business loans, charitable donations, credit extensions, and financial strength requirements. The bill directly affects credit unions by changing how they handle fees charged to non-members, set limits on loans to members' businesses, manage charitable contributions, and maintain capital and net worth standards. These changes modernize regulatory expectations for credit unions while maintaining their community-focused mission. The bill became law as Public Act 25-37 after being signed by the governor on June 10, 2025.
Bill status signed all 5 stages cleared
Introduction
Feb 2025
Committee Review
Mar 2025
House Passage
May 2025
Senate Passage
May 2025
Signed into Law
Jun 2025
Introduced Feb 27, 2025 Signed Jun 10, 2025
Maddy AI version diff · 1 comparison

What changed between versions

Raised Bill → BA Joint Favorable Substitute · 6 edits
MODERATE
The bill was revised from a 'Raised Bill' to a 'Substitute Bill' following committee review, with significant changes to definitions and scope. The most substantive change is the redefinition of 'Loan officer' by adding a new definition for 'Insider' and expanding the 'Immediate family member' definition to include in-laws and grandparents. The bill also reorganized the definition numbering and clarified the 'Shared service center' definition.
Scope change
The bill's scope remains focused on credit union statutes but the definitions section was significantly reorganized and expanded to include new categories of insiders and family members.
DEFINITION

Added new definition of 'Insider' to include directors, appointed directors, board-appointed committee members, senior management, and loan officers.

Expanded 'Immediate family member' definition to include in-laws (spouses, parents-in-law, children-in-law, siblings-in-law) and grandparents/grandchildren.

Reorganized and renumbered all definitions from the original 21 items to a new structure with 23 items, adding 'Insider' as a new definition.

Clarified 'Shared service center' definition by restructuring it into two parts (A) and (B) with numbered subcategories (i) through (iv).

Modified 'Branch' definition to explicitly include offices operated as shared service centers.

TECHNICAL

Changed bill designation from 'Raised Bill No. 7083' to 'Substitute Bill No. 7083' and updated LCO number references.

Floor votes · Senate May 28, 2025 · House May 1, 2025

How they voted

36–0
Passed
Total votes 36
May 28, 2025
D Democratic25
25 Yea
100% Yea
R Republican11
11 Yea
100% Yea
Vote distribution
All Yea All Nay Mixed No data
Full legislative history

Actions timeline

Total actions
21
Key actions
6
Committee
2
Amendments
2
Jun 10, 2025
Signed into law
SIGNED BY GOVERNOR
lower
May 28, 2025
Upper · Passed
SEN. PASSED, HO. AMEND. SCH. A
upper
May 28, 2025
Upper · Passed
SEN. ADOPTED HO. AMEND. SCH. A
upper
May 1, 2025
Lower · Passed
HOUSE PASSED, HOUSE AMEND. SCH. A
lower
May 1, 2025
Lower · Passed
HOUSE ADOPTED HOUSE AMEND. SCH. A
lower
Mar 11, 2025
Lower · Passed
Joint Favorable Substitute
lower
Feb 27, 2025
Committee
REF. TO JOINT COMM. ON Banking
lower
0 primary · 0 co-sponsors

Sponsors

No sponsor information available.