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 2020 State Legislative sessions, including passing 7 LBA-supported bills that were signed into law:
- Act 254 by Rep. Ray Garofalo enacts remote notary procedures and standards and also facilitates the recording of tangible copies of electronic notarized documents when clerks of court are not yet able to accept electronic documents for recording. This Act helps modernize Louisiana law for the future when electronic and remote transactions will be more frequent, and can be helpful to banks that have a shortage of notaries in certain bank branches.
- Act 195 by Rep. Francis Thompson provides that banks can pledge as security for state government deposits anything that the state can invest public funds in directly, and removes restrictions on maturity dates of securities pledged as collateral.
- Act 289 by Rep. Mike Huval amends the municipal public funds law to remove restrictions on maturity dates of securities pledged as collateral to secure local public funds.
- Act 109 by Rep. Greg Miller creates a state statute that improves the ability of a bank to use and enforce electronic signatures.
- Act 236 by Sen. Ronnie Johns and Rep. Rodney Lyons provides for a more detailed procedure, and clear immunity language, for banks to sell or dispose of abandoned property contained in a drilled safety deposit box to help pay the lien for unpaid rent, the costs of drilling a box and storing contents.
- Act 336 by Rep. Thomas Pressly protects businesses that operate responsibly from frivolous litigation related to COVID-19. LBA worked with the Louisiana Association of Business and Industry and a coalition of other business groups on this important legislation.
- Act 46 by Rep. Paula Davis from the Second Extraordinary Session gives clear authority to banks, savings banks, savings and loan associations, and their holding companies to hold shareholder and member meetings remotely.
(Above pictures were taken at live meetings held prior to the pandemic.)
Monitor, Track, Act
During the 2020 state legislative sessions, 2,349 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.
- 2,436 messages were sent through LBA’s VoterVoice Call to Action campaigns to members of the Louisiana Congressional Delegation.
- 61,000+ emails were sent to distribute the 48 LBA Government Relations Update bulletins produced in 2020.
- LBA State PAC 2020 contributions totaled $101,345 from 64 banks—which, thanks to members, ended up being a record-breaking year in spite of the challenges faced during a pandemic and active hurricane season.
- LBA Fed PAC 2020 contributions totaled $83,332 from 611 individuals.
- There were 35 members of Cliff's Club for 2020, 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 $1.6 million to the LBA PACs since 2011.