Removing Barriers Blog

CCUA Files Comments Supporting Lienholder Notification in Mass.
Posted September 23, 2015 by CUNA Advocacy

At yesterday’s Joint Committee on Consumer Protection and Professional Licensure, hearing, the Cooperative Credit Union Association filed comments with the Massachusetts Legislature in support of H 3590.  The bill would regulate the notice and processes for the storage and fees of abandoned motor vehicles. The goal of the bill is to standardize and update a notice process that is timely, reasonable and fair to owners, garage owners/operators and lenders as lienholders in addressing motor vehicles that are either voluntarily or involuntarily abandoned. Despite their best efforts, credit unions are often unaware when garages are holding these vehicles. Credit unions typically become aware of such situations through their own skip tracing and collection efforts.

 

In the submitted comments, CCUA stressed the importance of the bill to credit union members, credit unions, as well as the garages that may save expense, paperwork, and time through the lienholder notification process.