Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
CUs in Ohios in-state out-of-state parity bill
COLUMBUS, Ohio (12/7/11)--Ohio-chartered credit unions, banks, savings banks, and savings and loan associations could assess the same interest, fees and other charges that out-of-state financial institutions assess Ohio consumers, if recently introduced legislation becomes state law.

Under the bill, Ohio-chartered financial institutions would not be subject to Ohio laws limiting interest, fees and other charges, said the Ohio Credit Union League (e-Lumination newsletter Nov. 30).

Senate Bill 218/House Bill 322, sponsored by State Sen. Bill Coley (R-Middletown), are pending in the Ohio General Assembly's Senate Financial Institutions Committee and House Financial Institutions, Housing and Urban Development Committee, respectively.

Similar legislation has been introduced in the past, most notably addressing credit card interest rates, the league added.

The league continues to monitor the process. It has emphasized the need for the legislation, and expressed concern that "Most Favored Lender" status only applies to each respective out-of-state institution, instead of an all-encompassing application for all lenders.


RSS print
News Now LiveWire
The Hill reports House Republicans plan to delay Aug. recess to stay in D.C. until they have enough votes to pass bill on border crisis.
14 hours ago
The FHLBs of Des Moines and Seattle announce they have entered into an exclusivity arrangement regarding potential merger of the 2 entities.
15 hours ago
SunCorp and @AlloyaCorp have announced their intent to merge.
17 hours ago
.@TheNCUA bars former employee of Southwest Communities FCU,Melissa Rosing,from work at any federally insured FI. http://t.co/owtVnPxVZT
17 hours ago
Fryzel added @TheNCUA is fed. governmt, thereby will B criticized, but always tried 2 do what is right. McWatters still 2 B sworn in.2of2
20 hours ago