Florida governor signs FHLBank bill

Friday afternoon, Gov. Rick Scott officially signed HB 1233 into law. This legislation, sponsored by Rep. Cyndi Stevenson (R-St. Augustine) and Sen. Rene Garcia (R-Hialeah), now requires the Florida Office of Financial Regulation (OFR) to enter into an information sharing agreement with the Federal Home Loan Bank (FHLBank) Atlanta. The agreement opens the door for […]

Friday afternoon, Gov. Rick Scott officially signed HB 1233 into law. This legislation, sponsored by Rep. Cyndi Stevenson (R-St. Augustine) and Sen. Rene Garcia (R-Hialeah), now requires the Florida Office of Financial Regulation (OFR) to enter into an information sharing agreement with the Federal Home Loan Bank (FHLBank) Atlanta. The agreement opens the door for state chartered credit unions to join the FHLBank Atlanta’s secondary market mortgage program, something they were unable to do prior due to OFR’s refusal to share examination reports with the FHLBank.

The legislation becomes effective July 1, 2016 and the agreement between OFR and FHLBank Atlanta must be executed by Aug. 1, 2016. HB 1233 was one of 68 bills the governor signed on Friday.

Written by
admin
View all articles

About Us

The League of Southeastern Credit Unions & Affiliates represents nearly 300 credit unions throughout Alabama, Florida, and Georgia. It has a combined total of almost $200 billion in assets and 12.4 million members. LSCU provides advocacy, compliance services, education and training, cooperative initiatives, and communications.

Social Channels

Follow us on all major social media platforms.

Newsletter

Make sure to subscribe to our newsletter and be the first to know the news.