CO HB 1351 passes out of House committee

Posted by Katie March on March 28, 2024

After a very successful hearing Wednesday afternoon, filled with strong, fact-supported testimony from credit union advocates and supportive statements from many legislators, House Bill 1351, The Division of Banking Sunset, was passed out of the House Business Affairs and Labor committee on a 7-4 vote.

We are incredibly proud of the effort put in by our advocates. Those that stepped up to testify did an amazing job and the room was filled with credit union support.

The bankers also showed up to the hearing and continued to share misinformation and hyperbole.

The next step in the process will be a short stop in the House Appropriations committee – where there will be no testimony, but instead a vote based on the fiscal impact of the Division of Banking. Then, the bill will head to the House floor, where we expect the bankers to ask legislators to propose anti-credit union amendments. We are working hard to educate legislators about the bill and advocate on behalf of credit unions.

If we pass the House floor votes on second and third reading, we will then go to the Senate where we will have our most important and challenging hearing – where we will need the help of all Colorado credit union advocates. Stay tuned for more details as we get them.

If you missed the hearing and would like to listen to the recording, you can do so using this link.

Posted in Advocacy on the Move, Colorado Advocacy.