Oregon Legislature Wraps Up Intense Session

After 32 intense days, the Oregon legislature adjourned March 3. In spite of a short session, some legislation of interest to credit unions passed. Now the focus is on preparing for 2017.

In Final Days of Session, Oregon Legislature Passes Marijuana Banking Legislation

The Oregon Legislature ended its 2016 session on Thursday, March 3. In the final days, legislation passed removing criminal liability from financial institutions servicing legal marijuana businesses.

NWCUA Backed Bills Advance in Oregon Legislature as Major Deadline Approaches

The Northwest Credit Union Association and member credit unions are at the table in Salem, supporting policy advancements in marijuana banking and data match legislation.

Oregon Legislative Update

The Northwest Credit Union Association is tracking several bills important to credit unions during Oregon’s Legislative session.

Credit Unions’ Policy Agenda Front and Center in Oregon Legislature

With the Oregon Legislature scheduled to begin its session on February 1, the Northwest Credit Union Association is on alert, monitoring bills related to affordable housing, elder and vulnerable person abuse, the Oregon Growth Board, and student loans.

Oregon Legislative Update: Credit Union Bills Beat Deadlines

Prize-linked savings bill signed into law as the update to the Oregon Credit Union Act moves to the House floor for a final vote.

Harborstone Credit Union Pays it Forward 27 Times

With their internal competition and “12 Days of Pay it Forward,” Harborstone multiplied their impact.

Scammers Targeting Oregon Taxpayers with Threatening Payment Demands

A sophisticated phone scam is targeting Oregon taxpayers during this tax season, telling victims they owe money to the IRS or Oregon Department of Revenue and demanding immediate payment via debit card or wire transfer.

Washington Legislative Week in Review: Inslee Proposes Eliminating Seven Tax Breaks

Sales tax exemptions for bottled water, janitorial services and extracted fuel are among the tax breaks Gov. Jay Inslee would repeal under a plan to raise $200 million in the current biennium for K-12 education.

Compliance Question of the Week

Do we need to certify our exemption from the foreclosure bills in Oregon and Washington every year?

TAPCO Credit Union Mourning the Sudden Loss of Branch Manager Jennifer Weed

Jennifer Weed, whose 17-year career at TAPCO Credit Union saw her grow from a recent college graduate and teller to branch manager and soon-to-be head of a new real estate department, died Dec. 10 after a sudden illness. The credit union has opened an account to help defray expenses for her husband and two young children.

New Marijuana Memo Changes Nothing for Credit Unions

The federal government has decided not to challenge state marijuana laws, but credit unions still will have to comply with reporting requirements when they open accounts for marijuana businesses.

First Rulemaking Meeting on Director Compensation This Afternoon in Tumwater

The Washington DFI holds a rulemaking meeting this afternoon to define “reasonable director compensation.” The meeting is scheduled for 2:00 p.m. in Tumwater, and a dial-in option is available.

2010 Department of Labor Ruling Shows Up in CFPB Final Rule

The official commentary in a new final rule from the CFPB includes hourly pay among the “permissible methods of compensation” for MLOs, meaning credit unions will have to examine their loan officers’ primary duties to determine whether they qualify for minimum wage and overtime.

Legal Briefs

Your weekly update on the regulatory landscape.

Legal Briefs

Your weekly update on the regulatory landscape.

New Oregon Attorney General Announces Mortgage Rules

Considered a victory for credit unions because there are no new regulatory burdens, Oregon’s AG Rosenblum adopts new rules to clarify conduct that violates the state’s Unlawful Trade Practices Act.

Compliance Question of the Week

What is a business development company, and can a credit union invest in one?