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CU Bills Get Final Seal of Approval; Off to Governor

League President Rick Pillow reports that the House of Delegates this afternoon passed the Senate versions (SB 905 and SB 769) of our credit union bills.

The Senate earlier passed the House versions. What this means is that our bills have received their final legislative seal of approval and are heading to the governor for his signature.

We owe thanks to all the credit unions and chapters for their hard work on our Credit Union Day at the General Assembly events! Your hard work paid off, paving the way for easy passage of our bills.

Rick also reports having a good conversation with Del. Ron Villanueva, who was very positive on credit unions, noting what we've always known to be true, "credit unions rock!"

He also spoke with the Chairman of the Courts of Justice subcommittee on civil matters, Del. Sal Iaquinto, who was positive on credit unions as well.

Pillow reports that Sen. Chap Petersen's foreclosure bill (SB 734) was defeated in the Iaquinto's subcommittee on Monday. We were closely monitoring the bill.

The bill provided that any person who knowingly makes, uses, or causes to be made or used a false or fraudulent record, document, or statement in support of any foreclosure shall be liable to the injured party.

Tags: General Assembly, SB 734, SB 905, SB 769

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