The bulletin alerts credit unions that the Washington Department of Licensing (DOL) will not accept powers of attorney executed by a credit union employee on behalf of a member.
The bank faces mounting pressure after employees reportedly set up as many as 1.5 million unauthorized accounts and applied for 565,000 credit cards without their customers’ consent.
Governor Kate Brown signed HB 4094 into law on March 29. NWCUA lauded the news as an “important first step” for credit unions looking to provide financial services to legal marijuana businesses.
With the Washington State Legislature scheduled to complete its regular session Thursday, six policy bills of interest to credit unions are still on the table.
The bill makes several important changes to the Oregon Credit Union Act, and will now go to the governor’s office to be signed into law.
The long-awaited end to the 2011 Oregon Legislative Session came last Thursday afternoon after six months of debate. Oregon Credit Unions had a lot of â€œwinsâ€ in what will be remembered as a session of compromise.