AB892AB892
Assembly
Record of Committee Proceedings
Committee on Financial Institutions
Relating to: credit union membership, powers, and operation; the application of agriculture, trade, and consumer protection statutes to credit unions; the creation of a new type of financial institution; the powers of and requirements applicable to the new type of financial institution; the priority of certain wage claim liens over a prior lien of a financial institution; providing an exemption from emergency rule procedures; granting rule-making authority; and providing a penalty.
By the Committee on Financial Institutions.
March 5, 2002 Referred to Committee on Financial Institutions.
March 5, 2002 PUBLIC HEARING HELD
Present: (16) Representatives Jeskewitz, Montgomery, J. Fitzgerald, Hoven, Kedzie, Kreibich, Rhoades, Starzyk, Walker, La Fave, Plale, Plouff, Balow, Richards, Shilling and Krug.
· Representative Suzanne Jeskewitz - 24th Assembly District
· David Anderson - Department of Financial Institutions
· Brett Thompson - WI Credit Union League
· Jim Hough - WI Economic Development Association
· Billy G. Smith - NFIB Wisconsin
· Bob Anderson - DWD- Equal Rights Division
· Sheean Donahue - DWD - Equal Rights Division
· Pete Christianson - WI Land Title Association
· Tim Elverman - Bank One Wisconsin
· Kurt Bauer - Wisconsin Banker's Association
· Daryll Lund - Community Bankers of Wisconsin
· Ruthann Nelson - WI Federation of Cooperatives
March 5, 2002
EXECUTIVE SESSION
Present: (16) Representatives Jeskewitz, Montgomery, J. Fitzgerald, Hoven, Kedzie, Kreibich, Rhoades, Starzyk, Walker, La Fave, Plale, Plouff, Balow, Richards, Shilling and Krug.
Moved by Representative Rhoades, seconded by Representative Hoven, that
Assembly Amendment 1
be recommended for introduction and adoption.
Ayes: (16) Representatives Jeskewitz, Montgomery, J. Fitzgerald, Hoven, Kedzie, Kreibich, Rhoades, Starzyk, Walker, La Fave, Plale, Plouff, Balow, Richards, Shilling and Krug.
Noes: (0) None.
INTRODUCTION AND ADOPTION RECOMMENDED, Ayes 16, Noes 0, Absent 0
Moved by Representative Krug, seconded by Representative La Fave, to recommended that the bill be divided into two distinct proposals - the financial modernization proposal and the wage lien proposal.
Ayes: (7) Representatives La Fave, Plale, Plouff, Balow, Richards, Shilling and Krug.
Noes: (9) Representatives Jeskewitz, Montgomery, J. Fitzgerald, Hoven, Kedzie, Kreibich, Rhoades, Starzyk and Walker.
ASKED THAT THE BILL BE DIVIDED INTO TWO DISTINCT PROPOSALS - THE FINANCIAL MODERNIZATION PROPOSAL AND THE WAGE LIEN PROPOSAL NOT RECOMMENDED, Ayes 7, Noes 9, Absent 0
Moved by Representative Kedzie, seconded by Representative Hoven, that
Assembly Bill 892
be recommended for passage as amended.
Ayes: (9) Representatives Jeskewitz, Montgomery, J. Fitzgerald, Hoven, Kedzie, Kreibich, Rhoades, Starzyk and Walker.
Noes: (7) Representatives La Fave, Plale, Plouff, Balow, Richards, Shilling and Krug.
PASSAGE AS AMENDED RECOMMENDED, Ayes 9, Noes 7, Absent 0
Erin Bilot
Committee Clerk