Credit union members protected in new address confidentiality law
Published by: Jared Weiser
February 8, 2022 | Regulatory
Credit unions are the original consumer protectors, especially when it comes to safeguarding sensitive information. Ohio Secretary of State Frank LaRose channeled this philosophy when he established the Safe at Home program, through House Bill 93, to better protect victims of certain crimes by further shielding personal information from public property records. While laudable, House Bill 93 created an unintended consequence that could have hindered the ability for credit unions to help a Safe at Home program participant secure a new home efficiently and effectively. So, the League went to work to ensure credit unions could continue to protect all member information through existing compliance controls rather than establishing new processes. Those advocacy efforts led to an included exemption for private entities that already safeguard consumer information, like credit unions and their mortgage partners. Governor Mike DeWine signed House Bill 93 into law on Jan. 28, 2022, effective immediately, protecting sensitive information and cementing your credit union’s ongoing efforts to protect member data throughout the mortgage process.
For more information about the Safe at Home program or to get involved in League advocacy priorities, contact Legislative Affairs Director Jared Weiser.
