MCUA Advocacy Helps Stop Bill Detrimental to Missouri’s Credit Unions
The Missouri Credit Union Association worked with a coalition of trade associations and other lobbyists to help stop a well-intentioned but overreaching consumer privacy bill. HB 1329 would have made it a penalty for any financial institution to transmit personally identifiable information, essentially eliminating a credit union's ability to process checks, make loans, perfect liens or process electronic bill payments, among a number of other services.
Representative Jay Barnes (R-District 60) introduced the bill and it was heard in the Downsizing State Government Committee on February 6. The bill was withdrawn on February 11.
"While the focus is often on passing legislation that helps consumers and credit unions, stopping legislation that could have a negative impact on our member credit unions is equally important," says David Kent, director of state legislative affairs. "This is why MCUA reviews so many bills and watches them closely as they move through the legislative process."
Missouri General Assembly Picks up the Pace
The legislative pace at the Capitol is starting to accelerate as both the House and Senate debated bills on their respective floors this week. The House primarily held these debates during the morning while the Senate worked into the evening on February 11. The Missouri Credit Union Association (MCUA) anticipates the House and Senate to continue with this type of schedule for the next several weeks.
Big news in Jefferson City on February 13 was the framework of a possible compromise regarding what is needed to gain Governor Jay Nixon’s support to sign a tax bill. The Kansas City Star has a nice write-up with more details.
MCUA’s Jefferson City Office Hosts Valentine's Day Themed Reception
The Missouri Credit Union Association’s Jefferson City Office welcomed Representatives Kathie Conway (R-104), Diane Franklin (R-123), Marsha Haefner (R-95) and Sheila Solon (R-31) for a Valentine’s Day themed reception on Wednesday, February 12.
For the full story please click here.
Photo: Reps. Conway, Haefner, Solon and Franklin
Key Committee Updates
The House Financial Institutions Committee is expected to vote on HB 1218 and HB 1374 on February 19.
HB 1218 is sponsored by Chair of the Committee Tony Dugger (R-District 141) and stipulates a condo association lien would have limited priority over any mortgage or deed of trust only to the amount of the common expense assessments up to six months immediately proceeding foreclosure.
HB 1374 is sponsored by Representative Stan Cox (R-District 52) and is commonly referred to as the anti-patent trolling bill. This bill sets parameters to help determine legitimate from illegitimate patent infringement demand letters and also provides businesses affected by patent trolls the ability to seek restitution.
The Missouri Credit Union Association Advocacy supports both bills.
Bills You Want to Know About
Click here for an overview of the bills with potential impact to credit unions. MCUA provides this information each week, and it is updated regularly as more bills are introduced and tracked.
Financial “Tip of the Week” – Surviving the Tax Season
During the 2014 legislative session, MCUA is providing lawmakers with a financial “Tip of the Week” to share with their constituents. On February 13, MCUA provided tips to help consumers survive the tax season. Read the full tip here.
If you have any specific examples to share with legislators on this topic, please contact Amy McLard or David Kent and we will be happy to help you get that information in to the hands of the right lawmakers. MCUA Advocacy also welcomes suggestions for timely financial education/news topics with a consumer focus to share with lawmakers.
*Indicates event being hosted by MCUA/chapter or in MCUA offices.