The Michigan Credit Union League said it is supporting proposed legislation that would crack down on scrap metal theft from foreclosed properties.
HB 4593 was approved by a 98-9 vote of the Michigan State House of Representatives on Oct. 31 and now moves to the State Senate.
“MCUL and Affiliates has lobbied the Legislature on this package (bill) because credit unions have reported considerable metal theft from foreclosed properties and even branch properties in certain areas,” MCUL reported in its weekly membership newsletter.
“Scrap metal is a major problem for credit unions because in addition to any cost to repair the damage from the removal of metal, they also have to pay to replace the stolen metals to return the property to sellable condition, which is then still at risk for future theft,” the league said.
Current state law makes it difficult for police to pursue scrap metal thieves because of insufficient record-keeping standards, according to an analysis of the proposed bill by the House Fiscal Agency, a nonpartisan organization within Michigan's House of Representatives. Moreover, because scrap metal theft occurs throughout the state, it is difficult for police to catch individuals who are stealing the scrap metal, the analysis said.
The House bill would address these problems by giving prosecutors the tools they need to convict scrap metal thieves by requiring additional documents of scrap metal purchases, its backers said. The bill also would require purchasers to wait three days to pay individuals who sell catalytic converters, copper wires and air conditioners, the most frequently stolen items, according to the MCUL.
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:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.