Rhode Island Story Archive

Rhode Island Legislative Update

March 09, 2021 — The Association remains active before the Rhode Island General Assembly, and is currently monitoring approximately 20 bills impactful to credit unions and their operations.

Most recently, testimony was submitted on behalf of the credit unions of Rhode Island to the Senate Committee on Judiciary on legislation relative to elder financial abuse. The companion Senate and House bills are supported by credit unions as they help further the goals and efforts to eradicate financial or material exploitation of elders’ funds, property, and assets. Notably, the bills contain extended reporting and training timeframes that were requested in oral and written testimony provided in previous legislative sessions. The full testimony is available HERE. The Association will update members with any developments.

Additionally, public hearings on financial literacy legislation, Senate 349House 5073, and House 5491 are expected shortly. The Association will submit testimony, and member credit union thoughts are welcome as to the impact of proposed legislation bills. Please forward any thoughts, comments or suggestions to advocacyri@ccua.org.

Governor signs new comprehensive Identity Theft Protection Act
July 13, 2015 – New law substantially revises the old statute, including breach notification requiring municipal agencies, state agencies and any “person” that collects and stores information to implement “a risk-based information security program.”

Massachusetts Credit Union Turns Eyes Toward Rhode Island for Growth
April 21, 2015 – Sharon Credit Union is asking the Massachusetts Division of Banks to allow it to expand into three Rhode Island counties, after bringing on a two-time bank CEO as its new chief operations officer.

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