Thank you for sharing!

Your article was successfully shared with the contacts you provided.

MADISON, Wis. – The Wisconsin State Legislature passed a bill, A.B. 2, that modernizes the state’s credit union statute. The bill was been sent to Gov. Jim Doyle and he is expected to sign it in to law. A.B. 2 was introduced in January. It allows state-chartered credit unions to serve more Wisconsin consumers and gives them parity with federal credit unions in key area. Passage of the bill followed debate over a wage lien provision that concerns the right of workers to claim wages owed them by companies filing for bankruptcy. As amended, the bill gives workers priority to collect up to $3,000 ahead of a secured lender, such as a credit union or bank, even if the lien of the secured lender was filed before the wage lien. The bill was passed by the state Senate by a vote of 24 to 9 , and an amended version passed the Assembly by a 64 to 33 vote. Wisconsin Credit Union League President/CEO Brett Thompson applauded “the Legislature, bank and non-bank trade groups, and the Governor and his administration for all their hard work in bringing the interests of some very diverse constituencies together through this bill.” The WCUL represents 300 of the state’s credit unions. -

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?


Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times
Live Chat

Copyright © 2022 ALM Media Properties, LLC. All Rights Reserved.