COLUMBUS, Ohio (2/17/15)--A number of bills related to the financial services industry will make their way through the Ohio Legislature this year, and the Ohio Credit Union League will have eyes on each one of them.
The league is working with legislative offices to ensure credit unions are protected, and it will have a presence in closed-door discussions among interested parties to help find solutions to a number of issues related to financial institutions and credit unions, the league said (eLumination Feb. 13).
Perhaps foremost on the list of issues will be "patent troll" legislation.
Patent trolling occurs when private entities send bad-faith letters to businesses, including credit unions, wrongfully accusing them of patent infringement, but demanding settlements in order to bypass litigation.
The league will work with Rep. Kristina Roegner (R-Hudson), among others, to formulate a legislative solution to this issue.
The league, working with Rep. Jim Butler (R-Oakwood), will also keep tabs on mortgage subrogation legislation that would define the lien order for mortgage holders when multiple liens are in place.
League representatives also will track legislation to expedite the foreclosure process on blighted or abandoned properties, a bill to be introduced by Rep. John Dever (R-Cincinnati) and Rep. Cheryl Grossman (R-Grove City).