July 29
Dear Credit Union Leaders,
The Lions open pre-season this week, and the Tigers are still 8 games up in the Central! As we head into August, here are the updates you need.
Advocacy
In Lansing, the state legislature has largely recessed for the summer. While they continue to work on state budget negotiations and road funding behind the scenes, they will return to session periodically in Lansing during August.
In Washington D.C., the following items were noteworthy:
The Financial Services and General Government (FSGG) bill was marked up by the U.S. House Appropriations Subcommittee last week. America’s Credit Unions, Inclusiv, MCUL and the state Leagues continue to advocate to preserve critical funding for the CDFI Fund and the NCUA Community Development Revolving Loan Fund (CDRLF). Steep cuts have been proposed to CDFI and other programs utilized by credit unions, but the U.S. House so far is supportive of continuing funding, albeit somewhat reduced. America’s Credit Unions and the state Leagues support continued, full funding for these critical programs that enable credit unions to serve and impact underserved communities.
H.R. 4544, the American Access to Banking Act, advanced out of the U.S. House Financial Services Committee’s markup. This legislation would address persistent and burdensome challenges to formation that new credit unions and community banks face. It would require federal financial regulators to review and streamline the application process to create a bank or credit union; establish mentorship and outreach programs; improve capital formation pathways; establish dedicated points of contact for applicants through casework support; encourage greater collaboration between federal and state regulators. America’s Credit Unions and the state Leagues support the bill.
H.R. 4735 and S 2419, dual versions of the Business of Insurance Regulatory Reform Act, were introduced to ensure the CFPB does not expand its authority under the Consumer Financial Protection Act (CFPA). The bills would amend the CFPA to revise the authority of the CFPB over activities regulated by a state insurance regulator by exempting the business of insurance from CFPB oversight. America’s Credit Unions and the state Leagues support the bill.
A federal judge recently ruled in favor of former NCUA Board Members Todd Harper and Tonya Otsuka as to their dismissal from the NCUA Board and ordered their reinstatement. After attending the July NCUA Board Meeting, the ruling has now been stayed pending further appeal. For a full update on state and federal regulatory action, please see the “Reg Corner” update in this edition of MI League Minute.
Grassroots and Advocacy Funding
As a reminder for those credit unions participating in the 2025-2026 Plush Program for our State PAC, we have scheduled a pair of “Know Before You Sell” calls on Aug. 19 and 20. Details on those calls will be sent to the credit union’s plush contact, and please contact DaeSean (DaeSean.Ashby@mcul.org) Laura (Laura.Osminski@mcul.org) with any questions.
Hike the Hill is getting closer, on Sept. 15-17! You can access details and hotel information at Hike the Hill - Michigan Credit Union League, and please contact Todd (Todd.Jorns@mcul.org) with any questions. For questions on scholarships, please contact Laura (Laura.Osminksi@mcul.org) or Kieran (Kieran.Marion@mcul.org).
Even though its only July, news about next year’s America’s Credit Unions GAC will begin to flow in September. Michigan will have a block of rooms once again this year. Once we receive them, our team will be working through the most efficient way to help ensure that those that need hotel rooms have access to them. Please contact Todd with any questions, and stay tuned!
Elections
Former U.S. Rep. Mike Rogers still remains the only formally announced candidate for the Republican nod for U.S. Senate next year. U.S. Rep. Bill Huizenga announced publicly that he will not challenge former U.S. Rep. Mike Rogers for the Republican nod for U.S. Senate next year. This does set up an interesting potential matchup against state Sen. Sean McCann in next year’s General Election contest in Rep. Huizenga’s currently-held 4th Congressional District seat, should Sen. McCann emerge from any Primary contest. There have been no recent additions into the Democrat’s primary race for the U.S. Senate seat beyond former state House Speaker Joe Tate, state Sen. Mallory McMorrow, Dr. Abdul El-Sayed, and U.S. Rep. Haley Stevens.
As mentioned previously, Lt. Gov. Garlin Gilchrist II, Secretary of State Jocelyn Benson, and Genesee County Sheriff Chris Swanson have all announced they will seek the Democrat nomination for Governor next year, along with Detroit Mayor Mike Duggan seeking the office as an Independent. Former Attorney General Mike Cox, U.S. Rep. John James, state Senate Minority Leader Aric Nesbitt, and former state House Speaker Tom Leonard have announced they will seek the Republican nomination.
Neither U.S. Rep. Tom Barrett nor U.S. Rep. Kristen McDonald-Rivet have primary challengers in next year’s contest for the 7th and 8th Congressional Districts, but both now have challengers in the General Election. With U.S. Rep. John James intending to vacate the 10th Congressional District to run for Governor, a number of challengers have indicated interest in the seat on both sides of the aisle. Most recently, former U.S. Rep. Mike Bishop indicated on social media that he will explore the idea of running for that seat as well.
As always, thank you for all that you do for Michigan’s credit unions!
Sincerely,
Patty Corkery and the MCUL Advocacy Team
« Return to "Roundup"
