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KCFA Member Update - January 2021

KCFA Member Update

A few items we wanted to highlight...and one that needs your ATTENTION! Thanks for being a KCFA member!!!

2021 Membership Dues

Just a reminder per the KCFA bylaws, your annual membership dues are DUE January 31, 2021. A few items of note:

- If you are a consumer loan company print and mail these docs along with your check: Dues Letter-FM & Certification

- If you are an associate member print and mail this doc along with your check: Dues Letter-AM

- You can pay your dues and renew your membership online at kycfa.org You can download the appropriate docs above, fill it out, scan it in and attach it on the electronic payment page.

- Please let me know if you have any questions.

Legislative Update

The General Assembly is on recess until February 2 after meeting 8 legislative days between January 5-13. During that time they passed 7 bills through both chambers with 6 of those having now been vetoed by Governor Beshear. The legislature will consider veto override votes on those bills when they return in February:

SB 1 - Would limit a governor's executive authority during times of emergency.

SB 2 - Related to administrative regulations and the process by which state agencies issue emergency regulation.

HB 1 - Allow entities to remain open if following CDC guidelines or Executive Branch guidelines, whichever is least restrictive. The bill also includes provisions to waive unemployment insurance late fees and penalties for employers.

HB 2 - Allow the Attorney General to seek injunctive relief and civil and criminal penalties against abortion facililites. Set additional parameters for abortion procedures during times of emergency.

HB 3 - Legislation to change the venue for challenges to a state statute from Franklin Circuit Court to the circuit court in the county of the plaintiff's residence.

HB 5 - Restricts executive power on temporary reorganizations.

Other bills KCFA is reviewing, monitoring, and tracking this session that have yet to move in the legislative process, includes:

HB259 - Creates a blended rate cap for certain loans over $3,000

HB243 - Reduce payday loans for certain populations to 36% and additional restrictions including a cooling off period.

SB 71 - Deals with the towing & storage of vehicles

SB 5/HB 10 - Providing for COVID liability relief for businesses

KCFA sends out weekly reports on legislative issues when the KY General Assembly is in session, if you are not receiving those and would like to please let me know.

KCFA Website

Just a reminder that KCFA now has a presence on the internet and that the site is live at kycfa.org 

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