One of the benefits of your credit union’s League membership is access to Advocacy in Action, which offers information about how we are advocating for credit union interests. You’ll receive this enewsletter regularly when the Indiana General Assembly is in session along with timely updates at other times during the year. Since it is a benefit for League affiliates, some links may be password-protected. If you have questions or comments about content, contact us at (800) 285-5300, or email SVP Governmental Affairs Chris Beaumont or League President John McKenzie .
March 12 Highlights: Improvements to UCCC, Do Not Call Statute, Co-Op Day, Credit unions on Capitol Hill
Statehouse Update
The 2019 session of the Indiana General Assembly has moved past the halfway point, and things are beginning to heat up on top issues like the budget, hate crimes legislation and payday lending. As the session started in January, legislators filed more than 1,300 bills. As we reached the end of February deadlines, only 419 bills survived through to the second half of session. Legislators are required under the Indiana Constitution to finish by April 29, but with that being a Monday this year, we look for things to wrap up on April 26. There are still several issues of interest to credit unions that the League will be pursuing as session continues.

Improvements to Uniform Consumer Credit Code

This legislation remains the League’s top priority. After passing the House in January by a vote of 76-21, the bill now moves to the Senate where Senator Andy Zay (R-Huntington) is taking the lead in shepherding the bill. The bill is scheduled for a hearing in the Senate Insurance and Financial Institutions Committee on March 20. The League has already held meetings with all nine committee members, including Chairman Eric Bassler (R-Washington) , and has received positive feedback from all of them. HB 1136 calls for a summer study committee to review the full UCCC and would:
  • Change the existing UCCC “transaction charge” to allow a fee of the greater of $10 or 2%. Currently, the limit is the lesser of $10 or 2%. The most common application of the “transaction charge” is for credit card balance transfer and cash advance fees.
  • Increase the allowable delinquency charge from $19 to $25. It also would remove this from the indexing process that results in an amount that changes every two years with the Consumer Price Index.
  • Make improvements to a complicated provision of the UCCC called the “current installment rule” that creates confusion for lenders trying to post delinquent loan payments and collect the appropriate delinquency charge.

Do Not Call List – HB 1123

Rep. Jeff Ellington (R-23) introduced HB 1123 to make a few minor changes to the “do not call” statute. During the initial House committee hearing on the bill, an amendment was added to the bill that would provide financial institutions with an exemption from the “do not call” statute that would parallel the exemption under federal law. HB 1123 now includes language that would give financial institutions the chance to call current customers by exempting calls made by a financial institution made to a consumer with whom the financial institution has "an established business relationship" as defined under the federal "do not call" regulations. It would be a major victory if this provision remains in the bill, and the League continues to work with others to try to keep it there. HB 1123 passed the House unanimously, and so far, there has not been opposition voiced in the Senate. The bill has been assigned to the Senate Utilities Committee, and Chairman Jim Merritt (R-Indianapolis) has indicated that he supports the bill. We will continue to work on the bill and support it when it is scheduled for a hearing.

Other Issues

The League remains engaged in issues related to vehicle towing, Legacy Trusts and title searches for judgement liens and will be closely watching the budget discussions for any implications for credit unions.

Co-op Day at the Statehouse

Representatives from credit unions and the League joined cooperative businesses from throughout Indiana for the Co-op Day at the Indiana Statehouse on March 4. The showcase made it possible for cooperative businesses to interact with legislators during their workday. Several members of the Indiana General Assembly stopped by to visit with credit union representatives. The event was organized by the Indiana Cooperative Development Center.

If you have any feedback or questions about any of these issues, please contact SVP Governmental Affairs Chris Beaumont.
Indiana credit unions head to Capitol Hill
This week more than 110 representatives from 37 Indiana credit unions and the League are joining with 5,000 others from credit unions across the country to take part in CUNA’s annual Governmental Affairs Conference in Washington, DC. On March 13, we will be heading to Capitol Hill to visit with Senators Todd Young and Mike Braun as well as all of nine of our House members or key staff members. We’ll be highlighting the difference that credit unions make in their communities and their members’ lives and urging Congress to pass meaningful data security and regulatory relief legislation.
Indiana bills we follow
At the state level, League staff annually reviews more than 1,000 introduced bills, identifying dozens each year that could impact both state-chartered and federal credit unions. Click here or on the Bill Tracker logo above to learn more about our top priority bills this session.