state_legiscan_drain · MA
Allowing fair compensation of Massachusetts credit union directors
February 27, 2025
Summary
If enacted, this bill would allow Massachusetts credit unions to compensate their board of directors for their service, removing any existing prohibition and permitting what is deemed 'fair' compensation. This does not directly affect mortgage lending but is a governance change for state-chartered credit unions.
AI-generated summary · Aug 30, 2026. Verify with your compliance counsel before acting.
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Source: https://malegislature.gov/Bills/194/H1338
Common questions
- What does "Allowing fair compensation of Massachusetts credit union directors" cover?
- If enacted, this bill would allow Massachusetts credit unions to compensate their board of directors for their service, removing any existing prohibition…
- When was it published?
- It was published on February 27, 2025.