CREDIT UNIONS-VARIOUS

Revised the definition of membership to clarify that joint account holders can each be admitted as members and updated the requirements for surviving spouses to become members.

Expanded the grounds for expelling a member to include inappropriate behavior like verbal or physical abuse, and clarified that failure to pay loans or fees can be grounds for expulsion.

Required credit unions to distribute any new expulsion policy to all members at least 30 days before it takes effect.

Introduced new disclosure and due diligence rules for credit unions providing digital asset services or contracting with digital asset service providers.

Added provisions regulating the sale of debt cancellation services and products to credit union members.

Added a new appeal process allowing expelled members to request reinstatement from the board of directors within 30 days if the expulsion was ordered by a senior management official.

Clarified that members denied services due to policy violations retain the right to keep their share accounts and vote on membership issues.

Expanded allowed investments to include commercial mortgage-related securities and collateralized mortgage obligations to help manage liquidity.