The long-awaited 2011 Legislative Wrap-Up is now available (password protected), which summarizes bills signed into law most directly impacting North Carolina’s credit unions. Those eligible for consideration in May of next year are also highlighted. This comprehensive guide will be a resource for compliance and operational staff at credit unions as changes to state laws start taking effect.
While the Republican-controlled General Assembly focused little on legislation regulating the financial sector, technical changes were made that should be noted. From filings with the register of deeds and the reporting of unclaimed property, to modernizing deeds of trust and allowing credit unions to implement prize-linked savings, most of the bills passed this session will be favorable to the credit union system and to credit union members in North Carolina.
To have specific questions answered on state legislative matters, please contact Lauren Whaley, the League’s Director of Legislative and Regulatory Affairs.