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, links are 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 5 highlights: Indiana General Assembly session is in final days, regulatory relief progress at federal level
Statehouse Update
The 2018 session of the Indiana General Assembly is rapidly racing toward the finish line as bills face final deadlines this week, and legislators have just over a week to work out their final differences in conference committees. Session is scheduled to end on March 14. The good news for credit unions is that our top priority bills are well on their way to final passage and expected to be signed into law.

  • Last week, the Senate passed HB 1095 by a vote of 50-0. HB 1095 will allow the Bureau of Motor Vehicles (BMV) to create and implement an Electronic Lien and Title (ELT) system in Indiana. The House bill was passed without changes by the Senate, which means it will essentially go straight to the Governor to be signed into law. Lobbying for ELT has been a priority for the League and credit unions for several years, and we thank Rep. Sally Siegrist (R-West Lafayette) for successfully spearheading the legislation this year after meeting with Purdue FCU President/CEO Bob Falk last summer to learn about the issue. The League will actively work with the BMV to represent credit union interests as the system is developed.
  • The Senate also passed HB 1397 the same day by a 50-0 vote. HB 1397 is the Department of Financial Institution’s (DFI) annual bill. The bill would help the DFI create an expedited branching process, make a few minor changes to the State Credit Union Act and codify permitted “additional charges” under the Uniform Consumer Credit Code (UCCC) that have previously been permitted by DFI policy (like skip-a-pay and expedited payment fees). Because there were minor changes to the bill in the Senate, the House will have to vote again on the bill to concur with the changes, which will likely happen this week.
  • The House passed SB 376 last week that clarifies a conflict within Indiana’s unclaimed property laws related to when an automatically renewing CD should be considered as abandoned/unclaimed. The bill removes uncertainty in the statute by confirming that, as long as the account disclosures explain the process for automatic CD renewal, the existing process of using returned mail to trigger abandonment is correct rather than being required to hear affirmatively from a member at the time of renewal. The House passed the bill without changes, so it will essentially go straight to the Governor.
  • The House also passed SB 372, which allows for the implementation of a system for performing and accepting electronic and remote notarizations. This is an emerging issue across the country as technology makes remote notarizations possible, and many states are passing remote notary legislation. Indiana’s Secretary of State Connie Lawson has been a leader on the issue, and her office will be tasked with creating the rules and implementing remote notarization in Indiana. The bill will not fully take effect until July 1, 2019.
  • The payday lenders’ legislation seeking an expansion of their lending authority appears to be dead for 2018. Earlier, the House narrowly passed HB 1319 that would have expanded payday lenders’ authority to include making installment loans up to a term of 12 months and $1,500 at a very high effective APR. Consumer and veterans’ groups fought hard against the bill in the media and in the Senate. After a considerable, but unsuccessful, effort to find some kind of compromise, Senate Commerce and Technology Committee Chairman Mark Messmer (R-Jasper) decided not to give the bill a hearing because he did not believe the bill had enough support to pass.

During the last 10 days of session, the League will actively monitor the complex conference committee process where last minute changes can sneak into bills and surprises often lurk.
U.S. Senate to vote on S. 2155
Senate Majority Leader Mitch McConnell (R-KY) has formally started the process for S. 2155, the Economic Growth, Regulatory Relief and Consumer Protection Act, to be debated by the full Senate this week. Debate could start as early as late Monday, and a vote could occur before the end of the week. This is a major move forward for significant regulatory relief for credit unions. As you know, Senator Joe Donnelly has been instrumental in the development of this important legislation and is an original cosponsor. Nearly 100 Indiana credit union leaders met last week with Senator Donnelly in Washington, DC, where he told the group that he is very optimistic that S. 2155 will have plenty of votes to pass the Senate. He also is optimistic that the House will work to pass the bill. We also were able to meet with Senator Todd Young, and he expressed strong support for the bill and said he also would have been a cosponsor if the bill authors had not recently stopped adding cosponsors.
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 to learn more about some of our top priority bills this session.