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Read. Follow. Verify.Ohio House Bill 986 Prohibits Credit Unions from Acquiring State-Chartered Banks
Last action · August 12, 2026: IntroducedSponsor: Jason Stephens
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What This Bill Would Do
Ohio House Bill 986 enacts new state laws prohibiting any domestic or from acquiring an Ohio-chartered bank or entering into s to take over bank assets and liabilities through charter dissolution or surrender.
The measure establishes a permanent legal barrier between credit unions and traditional banking institutions in Ohio, preventing credit unions from absorbing state banks or their assets.
Who It Would Affect
Groups the bill's text would affect if enacted, as described in the record. Being affected is not a position for or against it.
Credit unions chartered under Chapter 1733
Credit unions are legally barred from acquiring Ohio-chartered banks or taking over their assets and liabilities through purchase and assumption agreements.
Foreign credit unions
Out-of-state credit unions are prohibited from acquiring Ohio-chartered banks or assuming their assets and liabilities.
Banks chartered in the state of Ohio
State-chartered banks are protected from being acquired by credit unions or entering into asset and liability assumption agreements during charter dissolution or surrender.
Key Facts
You don't have to trust us. Each fact below is taken straight from the official document - click any one to see the exact passage, highlighted in the original.
Frequently Asked Questions
Does this bill apply to credit unions based outside of Ohio?
Can an Ohio bank voluntarily surrender its charter to a credit union under this bill?
What else do you want to know?
News Coverage
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Votes, people, money & the original sourceWhere This Stands
Currently filed. The next step in the legislative lifecycle is Committee.
Procedural history
1 action- Aug 12, 2026HouseIntroducedIntroduced
Version history
Only one version on file - nothing to compare yet. As later stages (committee substitute, engrossed, enrolled) are captured, the redline appears here.
View official text →Lobbying Activity
No state lobbying filings in our records match this bill. Federal lobbying reports (LDA) cover Congress, so they are not listed on state bills.
Full breakdown
Who this bill affects and the strongest case for and against it, written only from the bill’s own text.
Sponsors
Connected Entities
Sources
www.legislature.ohio.gov
Analysis Score
0–100- Significance65How much this matters to a regular citizen
- Controversy40Intensity of disagreement among stakeholders
- Entertainment5Compellingness for a non-policy-wonk reader
- Buzz30Current news / social attention level
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