Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

CU System
Okla. gov. signs CU-backed tow-truck bill
OKLAHOMA CITY (6/5/14)--Oklahoma Gov. Mary Fallin Tuesday signed into law legislation that addresses questionable business practices among the state's tow truck operators, marking the final hurdle for a bill drafted on behalf of Oklahoma credit unions.
 
SB 0582 requires towing companies to notify lien holders when a vehicle is towed.
 
The legislation was supported by the Oklahoma Credit Union Association--a subsidiary of the Cornerstone Credit Union League (Leaguer June 4).
 
"Getting this bill passed was a long haul, and extremely contentious, but in the end, credit unions have persevered," said Nate Webb, association president. "This isn't just a victory for credit unions. It's also a victory for our members who own their credit union."
 
Oklahoma credit unions have reported instances in which operators will tow a vehicle and store it without timely notification to the lien holder. In cases in which notification was not sent in a timely manner, storage fees accrued and, in many instances, the cost of recovering the car reportedly was more than the collateral.


RSS





print
News Now LiveWire
Maine credit unions put Food Mobile on the road to relieving hunger in rural areas http://t.co/R0xpt6BAZE
1 Day ago
.@TheNCUA's Matz: PALS should be exempt from Military Lending Act proposal #NewsNow http://t.co/Vy9uNhOIEr
1 Day ago
#NewsNow Iowa loan growth 3 times national bank rate http://t.co/fUvudPLg5d
1 Day ago
.@ICBA tallies its Home Depot data breach costs: $90M, 7.5M cards http://t.co/iJgRDC2AKZ
1 Day ago
.@icul's Jury elected treasurer of @WOCCU exec committee http://t.co/HEF1UChN8f
1 Day ago