FHLBank bill passes Florida House

Wednesday, the Florida House of Representatives passed HB 1233, signifying a big win for credit unions. This bill requires the Office of Financial Regulation to enter into an information-sharing agreement with the Federal Home Loan Bank Atlanta (FHLBank) for the purposes of providing examination reports so that state-chartered credit unions may enter the FHLBank’s secondary […]

Wednesday, the Florida House of Representatives passed HB 1233, signifying a big win for credit unions. This bill requires the Office of Financial Regulation to enter into an information-sharing agreement with the Federal Home Loan Bank Atlanta (FHLBank) for the purposes of providing examination reports so that state-chartered credit unions may enter the FHLBank’s secondary market mortgage program.

The bill, sponsored by Rep. Cynthia Stevenson (R-St. Augustine), will now head to the Senate, where its companion measure SB 1490 by Sen. Rene Garcia (R-Hialeah) passed its final committee Wednesday. It is expected the Senate will vote the bill out next week and then send it to Gov. Scott.

The League will continue to provide updates on the progress of this legislation and all issues of interest to credit unions.

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The League of Southeastern Credit Unions & Affiliates represents 342 credit unions in Alabama, Florida and Georgia, with a combined total of $118.63 billion in assets and more than 10.1 million members. LSCU & Affiliates provides legislative and regulatory advocacy; education and training; cooperative initiatives (including financial education outreach); public messaging; information services; and business solutions.

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