Delaware General Assembly to Adjourn; Association-Supported Bills Pass, Interchange Bill Stalled

The Delaware General Assembly is preparing to adjourn by midnight tonight, closing out a busy legislative session.

Several bills supported by the Association and credit unions crossed the finish line this session. The Association testified six times on key bills and submitted written testimony on three others to ensure the credit union voice was heard.

Public Funds
In May, the Delaware Credit Union Association and member credit unions joined Governor Matt Meyer for the signing of Senate Bill 247, which formally codifies that credit unions are eligible to hold and accept public funds from municipalities. The new law expands access to public deposits and helps keep more local dollars working in Delaware communities. Its passage was the result of ongoing meetings with state officials to clarify credit unions' ability to serve public entities.

Financial Modernization Bills
The Association also supported legislation to modernize Delaware's financial laws. The Delaware Banking Modernization Act of 2026, also known as Senate Substitute 1 for Senate Bill 16, updates state banking laws by defining digital assets, expanding the authority of the State Bank Commissioner, and modernizing rules for state-chartered banks and trust companies. It also makes it easier for out-of-state financial institutions to serve as fiduciaries in Delaware.

Another Association-supported measure, Senate Substitute 2 for Senate Bill 19, the Delaware Payment Stablecoin Act, creates a licensing framework for payment stablecoin issuers and digital asset service providers that operate with or on behalf of Delaware residents. The bill aligns with the federal GENIUS Act and sets standards for reserves, consumer protection, privacy, and anti-money laundering compliance.

Interchange Bill Stalled
The Association has been working with credit unions and other stakeholders, including the Electronic Payments Coalition, to prevent House Bill 315 from advancing. The bill, which appears stalled, would prohibit credit card companies and payment card networks from charging swipe fees on the gratuity portion of electronic transactions.

The Association will continue to monitor the bill as the legislative session winds down.