LBA’s government relations team is trusted, respected and dedicated to promoting and preserving the pro-banking environment in Louisiana. LBA saw continued legislative success during the 2021 State Legislative Session, including passing 7 LBA-supported bills and resolutions that were signed into law:
- Act 17 by Rep. Stephanie Hilferty repeals outdated public policy language in the Louisiana Banking Code regarding de novo interstate branching.
- Act 469 by Rep. Alan Seabaugh reduces the required number of print advertisements from two to one advertisement for re-advertising a sheriff’s sale of immovable property that has been postponed or rescheduled.
- Act 23 by Rep. Polly Thomas makes conforming amendments in the Banking Code to quorum and voting requirements to reflect that stockholders may participate in stockholder meetings by remote communication.
- Act 267 by Rep. Paul Hollis increases penalties for a law geared at preventing misleading solicitations by mortgage insurance and other companies that reference a bank's name without including certain legally required disclosures.
- Act 163 by Sen. Barry Milligan clarifies that the authority of a curator who has been judicially appointed to handle the affairs of an interdicted person includes the authority to conduct banking transactions on behalf of the interdict and access the interdicts existing deposit accounts, unless the Letters of Curatorship specifically limit such authority.
- Act 44 by Sen. Mike Reese adds to the Louisiana Banking Code cross-references to the provisions in the Code of Civil Procedure Articles that provide for the authority to rely upon small succession affidavits and the liability protection for banks when a small succession affidavit is used to transfer deposits and safety deposit box contents of a deceased customer to the heirs or legatees listed in the affidavit.
- HCR 74 by Rep. Joe Marino urges and requests the Louisiana congressional delegation to support H.R. 1996 and S. 910, the Secure and Fair Enforcement Banking Act (SAFE Banking Act) of 2021, to give banks a safe harbor from legal or regulatory action for banking a marijuana-related business that is acting in accordance with state law.
Monitor, Track, Act
During the 2021 state legislative sessions, 1,665 bills, resolutions and study requests were reviewed by LBA and 100% of the bills that were identified by LBA as harmful to banks and their customers were either favorably amended or defeated during the state legislative process.
- 5,264 messages were sent through LBA’s VoterVoice Call to Action campaigns to members of the Louisiana Congressional Delegation.
- 52,000+ emails were sent to distribute the 39 LBA Government Relations Update bulletins produced in 2021.
- LBA State PAC 2021 contributions totaled $104,465 from 62 banks.
- LBA Fed PAC 2021 contributions totaled $80,109 from 592 individuals.
- There were 32 members of Cliff's Club for 2021, which recognizes institutions whose employees and directors collectively give $1,000 or more to the Fed PAC.
- LBA member banks and bankers have contributed over $2.7 million to the LBA PACs since 2001.