The House Financial Services Committee on Thursday will mark up a bill that would extend share insurance coverage to trust accounts held in the name of credit union nonmembers.

The Credit Union National Association (CUNA), which supports the bill, said in a statement the measure would rectify the disparate treatment given to such accounts at credit unions. In 2008, the National Credit Union Administration issued an opinion letter on insurance coverage on Interest on Lawyers’ Trust Accounts (IOLTA). The accounts are those set up by lawyers at a credit union or bank to hold funds for their clients. Often, the interest accrued is paid to the state or the state bar association to fund legal services.

According to CUNA, the situation puts credit unions at a disadvantage to attract these types of accounts if all the clients must be members, rather than just the attorney establishing the account.

The committee will also consider a bill that would increase the cap on the application of the Small Bank Holding Company Policy Statement on Assessment of Financial and Managerial Factors from $500 million to $1 billion.