As state legislative sessions wind down around the country, Leagues have seen multiple legislative wins, both in getting pro-credit union bills passed and stopping bills that would negatively impact credit unions.
The Illinois state legislature passed several Illinois Credit Union League-backed amendments to the state’s Credit Union Act.
These include amendments to:
The Illinois League also secured passage of amendments to the Revised Uniform Unclaimed Property Act in favor of financial institutions as holders of unclaimed property.
Minnesota Gov. Tim Walz signed a bill into law recently that gives state-chartered financial institutions parity with federally chartered ones when it comes to giving consumers a second chance.
The Minnesota Credit Union Network helped craft the bill to allow state-chartered institutions to offer checking accounts to consumers that have had accounts closed within the preceding 12 months due to dishonored checks or check-related criminal offenses.
It passed the Minnesota Senate and House unanimously before being sent to Walz.
New Hampshire Gov. Chris Sununu recently signed an omnibus legislative filing into law that addresses the responsibilities of credit union directors and officers.
The Cooperative Credit Union Association testified in support of the bill throughout the legislative process and worked with the Commissioner of Banks to build a consensus and advance the measure.
Other recent state-level wins for Leagues and credit unions include: