Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
Governor keynotes Illinois Legislative Day for first time
NAPERVILLE, Ill. (4/9/10)--Illinois Gov. Patrick Quinn was the keynote speaker at the Illinois Credit Union League’s (ICUL) annual Legislative Day event in Springfield for the first time before 140 Illinois credit union officials.
Click to view larger image Illinois Gov. Patrick Quinn (left) addresses attendees at the Illinois Credit Union League’s (ICUL) annual Legislative Day in Springfield while Dan Plauda, ICUL president/CEO looks on. (Photo provided by the Illinois Credit Union League)
Quinn highlighted his support of credit unions. The governor mentioned that he is a member of three credit unions and his father actually started a credit union. State Sen. David Koehler (D-46, Edwards), a board member at CEFCU in Peoria, introduced the governor prior to his speech, ICUL said. Also on the agenda was Robert Meza, director of the Illinois Division of Financial Institutions, and Michael Fryzel, board member of the National Credit Union Administration. Meza and Fryzel provided a general overview of the state and national credit union movement. Prior to Hill visits with state legislators to discuss issues critical to credit unions, participants were briefed by ICUL staff about key legislative initiatives and the current legislative environment in Illinois. While the credit union delegation was in Springfield, members of the Illinois General Assembly were involved in the third reading of bills and on deadline to pass bills out of their original chamber. There were nearly 10,000 bills filed for consideration during the spring session. ICUL staff identified more than 200 bills that directly impact credit unions and their business operations and have been working to defeat or amend many potentially adverse bills, the league said. Bills of interest to credit unions include:
* House Bill (H.B.) 4865--ICUL’s Credit Union Act Changes: The bill passed the House 110-0 and is assigned to the Senate Financial Institutions Committee. H.B. 4865 amends the Illinois Credit Union Act to establish a due date of 90 days after Dec. 31 for the completion and mailing of the credit union’s external audit report to the state Department of Financial Institutions (DFI). The change will provide most credit unions with an extra 30 days to submit their report to state regulators. Also, H.B. 4865 contains a provision to codify member proxy revocation bylaw provisions to make the act consistent with the DFI standard bylaws. * H.B. 6412 (formerly H.B. 5027)--Credit Card Changes: The bill passed the House 112-0. H.B. 6412 incorporates changes from the federal credit card law into state law and makes state law consistent with applicable federal credit card laws. The legislation will benefit credit unions by allowing them to avoid possible compliance conflicts between federal and state laws regarding consumer notices and other provisions, said the league. * Mortgage Foreclosure Bills: More than 25 bills designed to provide some type of “mortgage relief” have been filed to date. ICUL has worked with the financial services industry to minimize the negative impact of the bills. Negotiations are continuing over several pieces of mortgage foreclosure legislation.


RSS print
News Now LiveWire
.@IllinoisLeague Hession: #HB5342 cause for celebration...will serve as a model across the country for state, fed regulators @GovernorQuinn
4 minutes ago
.@GovernorQuinn signs #HB5342 providing parity for state-chartered #creditunion examinations via @IllinoisLeague http://t.co/yrhoCkE4ER
42 minutes ago
.@Walmart's US CEO Bill Simon to step down, Greg Foran moves up via http://t.co/WIqJbYcapL
1 hours ago
.@NCUA just releases 3 segments of new online series to help CU managers, volunteers detect/deter fraud http://t.co/JgyRHcfgit
1 hours ago
.@USDA recognizes Royal #creditunion's $5M rural mortgage lending effort http://t.co/VMsvV0Mpbf
1 hours ago