DeWine inks credit union priority bill into law
Published by: Emily Leite
June 3, 2021 | Government Affairs
Further empowering how your credit union helps people, families, and businesses achieve financial well-being just became a reality. On June 2, Governor Mike DeWine signed House Bill 133 into law, clearing up unnecessary or unclear regulation to better fortify the member-focused credit union service model. This League advocacy priority was recently championed by the Ohio General Assembly with full and unanimous support so credit unions can protect mortgage loans already secured through attorney title opinions, receive more beneficial member business loan pricing through linked-deposit programs, update antiquated paper check printing requirements, and modify junior lien debt collection practices. With the enactment of House Bill 133, attorney title opinions made before June 16, 2021, will be protected under current malpractice laws, effective immediately, while the other key provisions in the bill will be effective on August 30. As the bill is enacted, the League will post important updates on Huddle regarding the changes contained in House Bill 133, including the specific enactment dates, so your credit union can prepare to adapt its internal practices accordingly.
Reach out to Chief Advocacy Officer Emily Leite for additional information on the impact House Bill 133 has on credit unions, and stay tuned to Huddle for more on what to expect next.
Contact Emily Leite for questions or assistance.