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After being unanimously passed by the Legislature's Judiciary Committee earlier this week, L.D. 846 - An Act to Refine and Streamline the Foreclosure Mediation Program with your League's amendment that replaced the bill's original language, the bill has not yet been reported out of the Committee so it can be considered by the full House and Senate.
"We eagerly await the Committee to report out this bill to move it forward to the full Legislature. The unanimous vote by the Committee provides a solid foundation of support for the bill but we remain engaged and involved in speaking to legislators about the legislation and building support among rank and file members in both chambers. Nothing is for certain in the political process so we have to continue to work diligently to get this passed. We have come too far and committed significant resources to let up know," stated your League's President John Murphy.
While your League waits for this bill to be reported out of Committee, your League's legislative activities continue on other foreclosure issues, as well as a bill concerning drivers who drive for Uber and not having comp and collision insurance, which could be a violation of the terms of certain loans. Rep. Ray Wallace, who Chairs the Supervisory Committee at Maine Highlands FCU, is working with your League to make sure credit unions are protected in L.D. 1379 - An Act to Establish Transportation Network Company Insurance. Your League has been working with the Credit Union National Association (CUNA) on language that has been used to provide protections to credit unions and other financial institutions as this issue has been considered in other states.
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