Movement advocacy priorities advance through the legislature
Published by: Jared Weiser
December 1, 2021 | Government Affairs
Priority legislation is advanced at the state and federal levels to help Ohio credit unions do what they do best: serve more than three million members. The Ohio House of Representatives recently unanimously approved House Bill 116 by a vote of 89-0 to move forward a new state law to modernize cybercrime penalties to reflect current digital realities. Born out of an Ohio credit union’s inability to prosecute an unsuccessful data breach by a former employee, the legislation now moves to the Ohio Senate for consideration. The League will continue advocating for the bill’s passage, so bad cyber actors are greater deterred from accessing sensitive consumer data.
At the federal level, the House Financial Services Committee successfully passed two Movement priority bills that seek to modernize federal charter governance and empower human capital. H.R. 2311, the Credit Union Governance Modernization Act amends the Federal Credit Union Act to streamline how credit unions expel members who pose a threat to the credit union and its membership. Under current law, a full vote of the credit union membership is required to oust an unruly member. This bill would change that requirement to empower the credit union’s management team and board of directors to determine the optimal path forward. Second, H.R. 5911, the Fair Hiring in Banking Act, would provide credit unions and other financial institutions more flexibility when hiring individuals with past minor criminal offenses. The League sent a letter to the Ohio Congressional delegation requesting their support of these critical bills.
If you would like more information about the League’s legislative priorities, please contact Legislative Affairs Director Jared Weiser.
Contact Jared Weiser for questions or assistance.