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Texas Credit Union Leaders Converge on State Capitol for GAC
Friday, February 17, 2017 7:00 AM

More than 100 credit union leaders from across the state were in Austin on Wednesday for the 2017 Texas Credit Union Association Governmental Affairs Conference.

The conferees started the day hearing from key committee chairmen about the issues on which the legislature is working. Attendees also received an overview of the state of credit unions in Texas from the Texas Credit Union Commissioner, with updates related to the areas on which the Department will be focusing this year in the exam process.

The lead attorney in the Attorney General Ken Paxton's consumer protection division gave an update on the work their office is doing on data breaches. Following that, SVP Regulatory and Compliance Counsel Suzanne Yashewski and Texas Credit Union Association President Jeff Huffman gave a brief overview of the nearly 2,000 bills already filed that impact credit unions. 

The conferees then spent the afternoon meeting with lawmakers at the Capitol on a range of issues. Among the topics discussed were home equity lending; proposed costly government mandates to the new account process and disclosures; data security breaches; elder financial abuse bills that could impose fines up to $100,000 on credit unions; prize-linked savings accounts; bills that would put liability on businesses that post prohibitions on carrying firearms; tax bills; and legislation protecting credit unions from credit and debit card fraud.

Huffman reported to attendees that this year the Texas Legislature will probably pass more bills that impact the operations of both state and federal credit unions than the U.S. Congress. He also reminded the group that the work they were doing in Austin benefits all credit unions.