Early in the session, the Legislature came to an agreement on Hirst, which grandfathers all existing wells as a legally-adequate water supply to obtain a building permit. It also allows new wells drilled in those watersheds, but limits them to an annual average. We also worked on access to abandoned or foreclosed properties, which allows financial institutions access and permits cities and counties to take certain action if a mortgage servicer does not abate a nuisance.
Other outcomes include a bill on the Uniform Common Interest Ownership Act, addressing lien priority for association dues and changes to the state budget to limit the Department of Revenue sweep of fees from DFI, lowering it from $15 million to $5 million.
S. 2155 Passes Senate: On Wednesday, the Senate passed S. 2155, a bipartisan regulatory reform bill, which includes several provisions that have been longstanding priorities of the ABA.
Judge Holds Hearing in ABA Lawsuit Against NCUA: A federal judge in Washington D.C. heard oral arguments on Thursday in the American Bankers Association lawsuit challenging the National Credit Union Administration’s field of membership rule.
CFPB Finalizes Changes to Servicing Rule: The CFPB issued the final rule relating to timing for services sending periodic statements to borrowers in bankruptcy. The rule goes into effect April 19, 2018.
House Passes Several ABA-Backed Reg Reform Bills: The House passed three regulatory reforms in early March that were backed by the American Bankers Association.
Members in the Community
Finally, a chance for us to shine a spotlight on the many contributions our members are making in their community:
Classes for the WBA’s Management Development Program and the Credit Analyst Development Program begin in April. These two programs are ideal for individuals at your bank ready for a new level of responsibility. The program features over 48 hours of instruction time for your students. Consider sending your staff, and register before April 1 to ensure the best pricing possible.
If you have news or events to share with the membership and WBA, please do not hesitate in contacting our office.
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