Georgia Gov. Nathan Deal has signed into law two credit union priority bills that were supported by Georgia Credit Union Affiliates' (GCUA) lobbying efforts.
The Credit Union Clarification for Lending/Operation Procedures Bill, HB 759, clarifies that credit unions are included in the unauthorized practice of law exemption for financial institution operations
The exemption allows credit unions to lend, initiate home equity lines of credit union, discuss issues with members, and address compliance issues without requiring an attorney to be present.
Rep. Wendell Willard (R-Sandy Springs) introduced the credit union-specific bill at the request of GCUA to clarify the existing law and protect credit unions.
Deal also signed HB 811, Credit Union Law Enhancements Bill, sponsored by Rep. Bruce Williamson (R-Monroe).
Among the bill’s features:
State credit union leagues nationwide have seen success this legislative session for state-chartered credit union act modernization, which CUNA supports to provide the maximum flexibility for credit unions to serve their members.