TALLAHASSEE, Fla.– Legislation in this state that is supported by credit unions– House Bill 1549 – Financial Institutions – has passed the Florida Legislature and now awaits action by Gov. Ron DeSantis.

The League said the bill was shaped by “valuable input” from credit unions across Florida, and reflects a collaborative effort with the Florida Office of Financial Regulation (OFR) to “modernize and strengthen the state charter, which was one of many legislative priorities in this session and reflects our multiyear process to regularly update the charters in our region.”

What Bill Does

According to the League, HB 1549 includes key provisions that:

• Improve timelines for OFR fee assessments to ensure more accurate payments.
• Authorize for OFR to issue acquisition approval certifications for mergers and acquisitions.
• Codify reimbursement policy for board members’ necessary expenses. 
• Eliminate regular reserve requirements, aligning with federal standards and offering greater flexibility.

 Enhancements Made

“We are glad to see enhancements to our state charter with quality-of-life measures and federal parity,” Christopher Hodge, senior director of governmental affairs for The League, said in a statement. “We look forward to continued collaboration between credit unions and the Office of Financial Regulation to develop Florida’s state charter into one of the strongest in the country.”

Added Samantha A.M. Beeler, president and CEO of the League of Credit Unions, in a statement, “This bill is a testament to what can be achieved through thoughtful collaboration between regulators, legislators, and credit unions. By continually modernizing our state charters, we’re not only ensuring regulatory clarity and flexibility—we’re empowering credit unions to better serve their members and communities across Florida and adding pressure to modernize the Federal Charter. We’re grateful to our partners at the Office of Financial Regulation and the bill sponsors for their leadership and support.”

Ongoing Advocacy

According to the League, throughout the 2025 session, the Florida Credit Union Association (FCUA) and credit union advocates “actively engaged” on several important policy issues, including affordable housing, condominium reform, updates to the Uniform Commercial Code, and the recognition of gold and silver as legal tender.

The organization said a notable highlight of the session was the filing of Senate Resolution 1880, led by Senator Jonathan Martin, which reflects a League-led resolution calls on credit unions, banks, and other financial institutions to unite in the fight against human trafficking by raising awareness, enhancing collaboration with law enforcement, and supporting survivors.