Oregon Legislative Session Ends

Oregon’s legislative session came to an end last Thursday.  The six-month session was one of compromise and will be remembered as the year the redistricting plans were worked out, the year that substantial reform in education and health care passed, and the year of bi-partisanship.  

Oregon credit unions had another very successful legislative session, passing key updates to the Oregon Credit Union Act (SB177), while stopping efforts by the Oregon Bankers Association to tax credit unions who accepts public funds or make member business loans (HB3263).

While these two bills received a great deal of attention, the Northwest Credit Union Association (NWCUA) tracked more than 130 bills and testified several times before the legislature.  A complete legislative report will be available in the coming weeks, however, the following is an abbreviated list of major bills tracked by the NWCUA:
HB 2083 – Exempts from disclosure mortgage loan documents obtain during lending exam, signed by Governor
HB 2084 – Advisory committee for those likely to be affected by mortgage lending rules, signed by Governor
HB 2086-  Appraisal management companies, died in Committee  
HB 2219 – Beneficiary remains in possession while foreclosure pending, died in Committee
HB 2263 – State bank task force, died in Committee
HB 2472 – Deadline for trustee to respond to grantor, died in committee
HB 2473 – Termination of consumer contract for services without a fee, died in committee
HB 2518 – Real estate transfer tax, died in committee
HB 2551 – State-wide lien register, died in committee
HB 2612 – Specify limit of public funds held by depository applies only to uninsured funds,  signed by Governor
HB 2851 – Breach of security and ID theft statutes, died in committee
HB 2921 – Homestead exemption if terminal illness, died in committee
HB 2926 – Interchange bill, died in committee
HB 2957 – Fine for foreclosed property that is “neglected” – died in committee
HB 2972 – Creation of a state bank HB 3215, died in committee
HB 3452 – “Virtual” State Bank, died in committee
SB 92 – DCBS holding company regulation, savings banks statutory changes and interstate branching modifications, signed by Governor
SB 198 – Mandatory mediation bill, died in committee
SB 300 – Homeowner association super-priority lien, died in committee
SB 387 – Modifications to the Uniform Principal and Income Act, signed by Governor
SB 414 – Small estates affidavit bill, signed by Governor
SB 482 – Title companies retain copies regarding residential mortgage transactions, died in committee
SB 491 – Modifies notice requirements regarding tenants in foreclosure, died in committee
SB 516 – 9 % Interest on judgments, died in committee
SB 663 – Prohibits selling of mortgage loan for 5 years, died in committee
SB 826 – Regulation of Mortgage Servicers, died in committee
SB 827 – Foreclosure bill, died in committee
SB 889 – Consumer Protection, “Alternative to State Bank” – died in committee
SB 965 – state interchange bill, died in committee


Questions? Contact a member of the Association’s Legislative Affairs team:

Jennifer Wagner, Director of Legislative Advocacy
Mark Minickiello, Vice President, Legislative Affairs
Stacy Augustine, Senior Vice President & General Counsel

Posted in Advocacy News, Business Solutions, Industry Insight.