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BATON ROUGE, La. – Louisiana Governor Kathleen Blanco continues to serve on the board at La Capitol Federal Credit Union while she moves forward with her mission of bringing businesses to Louisiana as the first woman elected to the state’s highest office. Blanco raised the interest of many credit unions during her campaign as she has served on the board at the $254 million credit union since 2000. According to a spokeswoman from the Governor’s office, Blanco continues to serve on the CU’s board. More than 90 Louisiana credit unions and the Louisiana Credit Union League supported a bill that Blanco eventually signed which simplified the process of repossessing a vehicle without having to go through the judicial process. Specifically, the new law gives state and federally-chartered lenders the authority to send notices of repossession to borrowers after nonpayment for two consecutive loan or lease payments. The new law also calls for the licensing of repossession agents and a 10-day period for recovery of the borrower’s property from the vehicle. Blanco has also said credit unions can play a pivotal role in her economic development plan by filling a void left by banks that have been merged and by serving the underserved.

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