Creating Influence

Stay Informed: State Legislative Hearings

While the state Legislature adjourned at the end of March and elections have dominated the landscape, hearings can be scheduled at any point of the year. These “off session” hearings are often where issues are hammered out well in advance of the Legislature resuming in January – and without a large number of people engaged in the process. From a credit union perspective, it is imperative to physically monitor any that have an impact on the industry, as issues proposed in these hearings are almost impossible to alter once the session begins. Most recent hearings of industry interest include:

  • On August 22nd the state House Science and Technology Committee debated data-collection policies, as well as a new state privacy law in California that will allow consumers in that state the ability to opt out of if their data is sold, provide avenues to delete data, or see what is collected. This topic is monitored closely to ensure that it does not restrict credit union operations and the data it utilizes to help members (consider fraud prevention systems for one example!). In addition, these hearings also delve into the area of cybersecurity, and GCUA closely lobbies and monitors this so that member data is protected and operations at credit unions are not impacted by conflicting requirements between federal and state law.
  • On August 29th the state Joint Hearing on Low THC Oil Access committee held the first in a series of hearings to analyze the state’s policies and potential policies surrounding access to low-THC oil and heard from several families whose children benefit from this. From a credit union perspective, GCUA is monitoring how the state treats hemp, low-THC oil and any marijuana legislation, as financial services is a factor in this debate (and was a topic of policy discussion at NCSL). Providing financial services can be a challenge based on the conflict between state and federal government on this.

GCUA anticipates more hearings in the months ahead, and is watching for news on the potential Amazon headquarters selection. If Georgia is picked, Governor Nathan Deal has shared that he will call the state Legislature back for a special session (any time) to outline tax incentives. Stay tuned.

Follow us

Don't be shy, get in touch. We love meeting interesting people and making new friends.