A bill introduced in the Missouri House would allow a lienholder - including credit unions - to electronically release a lien on a motor vehicle or trailer. Missouri Credit Union Association (MCUA) Advocacy testified in support of the bill, HB 1999, during the March 12 House Financial Institutions Committee hearing. The bill is sponsored by Representative Tony Dugger (R-District 141), who also serves as chairman of the committee.
“The goal of HB 1999 is to make the lien release process faster, less costly and more convenient for all the parties involved,” says David Kent, director of state legislative affairs, who testified during the hearing. “This bill is a step in the right direction to ultimately get Missouri into a fully integrated electronic lien and title program, similar to what a lot of other states are currently doing. MCUA reached out to credit unions asking for input and received feedback citing support of an electronic lien release option.”
HB 1999 still allows lienholders the option of releasing a lien by mail or other delivery method. The Department of Revenue is currently working with financial institutions and other parties on the specific rules and regulations as well as how the program will be implemented.
Spring Break is an Opportune Time to Meet Your Legislator
Spring Break for the State House and Senate is March 17 - 21. This means many of your legislators are back in district and it might be a good time for your CEO to call them and ask them to lunch or to come visit your credit union. Not sure who your legislator is? No problem - click here to find your state Representative or here for your state Senator. Be sure to contact Amy McLard or David Kent after your meeting and let us know how the visit went.
Missouri Holds Annual Advocacy Meeting
Nearly eighty credit union advocates from across the state attended the Missouri Credit Union Association’s Annual Advocacy Meeting on March 10 and 11. The two-day event included presentations on data breach and state and federal legislative issues, a legislative reception and dinner, financial reality fair featuring local high school students and a meeting with State Treasurer Clint Zweifel (D).
The main purpose of the MCUA Annual Advocacy Meeting is the opportunity for credit union leaders, staff and volunteers to meet with their lawmakers and reinforce the credit union difference.
“I had very good meetings with several lawmakers, great conversation with nothing but positive things to say about credit unions,” says Brent Sadler, president/CEO of United Credit Union. Kirk Mondy, president/CEO of Poplar Bluff Federal Credit Union added, “Our credit union volunteers know their members in the Missouri General Assembly, so participating in the advocacy meeting is extremely beneficial."
Watch for a full article covering the Annual Advocacy Meeting with more photos on the MCUA website soon.
Quick Update on the Missouri General Assembly
This week concluded the activities of the House and Senate as they go into the Legislative Spring Break. Legislators will be out of session until March 24 when they will reconvene in Jefferson City.
The Senate worked through the massive rewrite of the state criminal code this week. The House perfected and third read several bills on Monday and Tuesday. Members adjourned early on Wednesday to give the Budget Committee time to finish its work on the state's operating budget. The committee worked through amendments and adopted the House Committee Substitute which will be taken up on the House floor soon after returning from Spring Break. There are significant differences between the budget adopted by the House Budget Committee and the budget recommendations presented by Governor Jay Nixon following his State Of The State Address.
Bills You Want to Know About
Click here for an overview of the bills with potential impact to credit unions. MCUA will provide this information each week. It will be updated regularly as more bills are introduced and tracked.
Financial “Tip of the Week” - Tips for Teaching Children Good Financial Habits
During the 2014 legislative session, MCUA is providing lawmakers with a financial “Tip of the Week” to share with their constituents. To follow up on the financial reality fair that took place in the state capitol rotunda this week, on March 13 MCUA provided tips to help parents teach their child – or children – good financial habits. 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.
Photos: 1) Rep. Tony Dugger (R-District 141) testifies on behalf of his bill, HB 1999.
2) Credit union staff and volunteers gather on the Capitol steps for a photo during the MCUA Annual Advocacy Meeting on March 11.