Assembly
Record of Committee Proceedings
Committee on Financial Institutions
Assembly Bill 663
Relating to: guaranteed asset protection products sold in connection with vehicle credit sales, loans, and consumer leases.
By Representatives Petersen, Kuglitsch and Katsma; cosponsored by Senator Craig.
November 22, 2017 Referred to Committee on Financial Institutions
January 17, 2018 Public Hearing Held
Present: (15) Representative Katsma; Representatives Allen, Sanfelippo, Stafsholt, Petryk, Weatherston, Murphy, Petersen, Kitchens, Doyle, Young, Bowen, Meyers, Fields and Zamarripa.
Absent: (1) Representative Jarchow.
Excused: (0) None.
Appearances For
· Rep. Kevin Petersen - 40th Assembly District
· Sen. David Craig - 28th Senate District
· Matthew Nowels - Guaranteed Asset Protection Alliance
· Nathan Moenck - CUNA Mutual Group
· Tom Moore - Wisconsin Financial Services Association
Appearances Against
· None.
Appearances for Information Only
· Heather MacKinnon - Wisconsin Department of Financial Institutions
Registrations For
· None.
Registrations Against
· None.
Registrations for Information Only
· None.
January 31, 2018 Executive Session Held
Present: (15) Representative Katsma; Representatives Jarchow, Allen, Sanfelippo, Petryk, Weatherston, Murphy, Petersen, Kitchens, Doyle, Young, Bowen, Meyers, Fields and Zamarripa.
Absent: (0) None.
Excused: (1) Representative Stafsholt.
Moved by Representative Petersen, seconded by Representative Jarchow that Assembly Amendment 1 be recommended for adoption.
Ayes: (15) Representative Katsma; Representatives Jarchow, Allen, Sanfelippo, Petryk, Weatherston, Murphy, Petersen, Kitchens, Doyle, Young, Bowen, Meyers, Fields and Zamarripa.
Noes: (0) None.
ASSEMBLY AMENDMENT 1 ADOPTION RECOMMENDED, Ayes 15, Noes 0
Moved by Representative Doyle, seconded by Representative Petryk that Assembly Bill 663 be recommended for passage as amended.
Ayes: (15) Representative Katsma; Representatives Jarchow, Allen, Sanfelippo, Petryk, Weatherston, Murphy, Petersen, Kitchens, Doyle, Young, Bowen, Meyers, Fields and Zamarripa.
Noes: (0) None.
PASSAGE AS AMENDED RECOMMENDED, Ayes 15, Noes 0
______________________________
Nick Krueger
Committee Clerk
