SB1870 amends Tennessee financial institution regulations, adjusting examination cycles and share insurance requirements.
SB1870 amends Tennessee Code Annotated, Title 45, Chapters 2, 4, and 7, concerning financial institutions. It modifies the examination cycles for banks and credit unions, allowing extensions up to 24 months based on factors like management quality and risk profile. The bill also adjusts share insurance requirements for credit unions, allowing the commissioner to determine necessary insurance levels. The commissioner retains the authority to conduct examinations and access financial institution records. The changes aim to balance regulatory oversight with the institutions' operational needs.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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