Breaking news from the General Assembly: All but one of the homeowner association priority lien bills considered this afternoon in the House General Laws Housing subcommittee have been tabled, reports League President Rick Pillow from Richmond.
This continues the good news for credit unions coming out of the General Assembly. Essentially, the tabled bills are likely dead this session. The lone bill still in play was being sent off to another subcommittee, a good sign that it, too, is unlikely to gain any traction this session.
We’ll continue to monitor these bills to protect credit unions’ interests, but we’re pleased to report these bills don’t seem to have the needed support to move forward.
During our Credit Union Day events, we’ve made note of our concerns about foreclosure measures to lawmakers. The League and grassroots advocates told legislators we weren’t reflexively opposing foreclosure bills, but we did want to ensure that any changes to protect consumers would not, in turn, hinder the ability of credit unions to serve their members well.