Banking Committee Updates

Both the Senate Banking & Financial Institutions Committee and the House Banks & Banking Committee held meetings this week.  
 
SB 37—Statute of Frauds by Sen. William T. Ligon, Jr. (R), Brunswick, was heard by the Senate Banking Committee on Tuesday.  The author of the bill made changes to the proposed bill in an effort to mitigate concerns raised at the previous committee meeting.  However, several concerns remained after the discussion of the changes.  The Committee ran out of time to hear testimony of all that had signed up on the bill; however, the author of the bill promised to continue working on perfecting the language to satisfy the remaining concerns.
 
HB 185—Financial Institutions, by Rep. Bruce Williamson (R), Monroe, was voted upon by the House Banks & Banking Committee.  The bill received a do pass motion from the Committee on Wednesday.  CBA will continue to monitor the progress of the bill.
 
HB 193—Banking and Finance, by Rep. Emory Dunahoo (R), Gainesville, relating to the savings promotion raffles offered by state-charted banks and credit unions was voted upon by the House Banks & Banking Committee.  The bill received a do pass motion from the Committee on Wednesday.  A request has been made to amend the bill to clarify that consumers should not have to pay a fee in order to participate in the raffle.  CBA will continue to monitor the progress of the bill. 

HB 212–Manufactured Homes relating to exemptions for retailers, retail brokers of manufactured homes or mobile homes from a mortgage lender and broker license was heard by the House Banks & Banking Committee.  As drafted, CBA has concerns with this bill as it may have a significant, negative impact to the Department of Banking & Finance.  However, the author of the bill and the Department of Banking & Finance have been in discussions and an amendment to the bill will be made.  The author promised to have an amended bill at the next committee meeting.  CBA will continue to monitor this bill. ​

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