MCUL Prepares for “MBL” Hike the Hill
More than 20 CU leaders from Michigan will head to Washington next week to participate in CUNA’s “MBL” Hike the Hill. The fly-in will is aimed at encouraging Congress to approve member business lending legislation during what is expected to be a robust lame-duck session of Congress. Michigan participants will join more than 400 other CU leaders representing other states. Credit unions will need an all-out blitz on Washington to get the legislation passed. MBL is on the Senate Majority Leader Harry Reid’s to-do list for the lame-duck session. Reid, D-Nev., promised last spring to bring MBL up for a vote in the Senate and he has reiterated that support since then. In preparation of next week’s event, the MCUL is creating district-specific MBL data for distribution to member offices. Of Michigan’s 15 current U.S. House members, nine have already cosponsored the legislation. GOP Reps. Amash, Benishek, Camp, Walberg and Rogers and Democratic newcomer David Curson of Belleville have not yet signed on as supporters. The special fly-in will further supplement recent in-district meetings hosted with our non-cosponsors held prior to the Nov. 6 election. The group of Michigan CU leaders is comprised of CU business lenders and CEOs from non-cosponsor districts, CU leaders that are approaching or at their current MBL cap, business-lending CUSO representatives and league government affairs staff. If you are interested in joining the MCUL’s fly-in scheduled for next week, contact Kieran Marion at Kieran.Marion@mcul.org for additional information. Click here to view the MCUL’s current MBL issue brief.
ATM Fee Disclosure Bill May See Action in Lame Duck
Earlier this year, Rep. Blaine Luetkemeyer,R-Mo., introduced H.R. 4367, legislation to eliminate the physical ATM disclosure requirement for financial institutions. Similar legislation (S. 3204) was also introduced in the U.S. Senate by Senator Mike Johanns, R-Neb. Ten of Michigan’s U.S. Representatives cosponsored the House version, including both Gary Peters and Bill Huizenga, who serve on the Financial Services Committee. In the Senate, Sen. Debbie Stabenow, D-Lansing, cosponsored S. 3204. The legislation passed the full House of Representatives in June. After being referred to the Senate, U.S. Sen. Jim DeMint, R-S.C., strategically blocked a vote on this legislation until the Senate considered an up or down vote on repealing the Dodd-Frank Act. Understanding a repeal of the Dodd-Frank Act in the Democratically led Senate is unlikely, CUNA and the bill’s House supporters have been encouraging Sena. DeMint to release his hold on this legislation. Earlier this fall Senate Banking Chairman Tim Johnson, D-S.D., and ranking member Richard Shelby, R-Ala., were working on a Senate substitute that could be considered post-election. Prior to the Nov. 6 election, Rep. Huizenga met with other House supporters and Senator DeMint to discuss the importance of releasing the Senate hold. Huizenga is optimistic that the legislation may be considered in the lame duck session. CUNA and the MCUL continue to urge Senate leadership to enact the legislation before the holiday. Click here to view the MCUL’s current ATM disclosure issue brief and talking points.