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Advocacy Roundup

Stay connected with the latest developments both in Lansing and Washington, D.C. Delve into insightful analysis, stay informed about policy changes, and gain a nuanced understanding of the political landscape and how it affects credit unions. Our curated content aims to provide you with a comprehensive view, allowing you to navigate the dynamic realms of local and national affairs.

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June 11, 2024


Dear Credit Union Leaders, 

It was wonderful to see so many of you at AC&E last week! As we gear up for the last few weeks of session before summer, here are the updates you need.


Our next “Cheers! To Compliance!” session will take place on June 28, featuring DIFS on a variety of topics, including the new consumer compliance component in examinations that is being rolled out. For those interested, you can REGISTER HERE, and please contact Brad (Bradley.Willett@mcul.org) for more information.


In Lansing, the Senate Finance, Insurance, and Consumer Protection Committee will reconvene for additional testimony on SB 408 and 409, the Senate’s version of legislation to update and reform garnishment and collections procedures in Michigan. Prior to the Detroit Chamber’s Annual Policy Conference on Mackinac Island and our AC&E last week, MCUL Advocacy testified in opposition to the legislation along with the Michigan Bankers Association and other stakeholders. At this point, we do not expect a committee vote this week, as the sponsors have indicated work on additional changes based on testimony. Work continues on the FY2025 budget, with a target date for completion tentatively eyed at the end of June. MCUL Advocacy continues to work with policy makers on key priorities in the funding mix, including Michigan Saves and CDFI support.

Related to interchange, the Illinois state legislature enacted potentially problematic legislation at the close of their session. The bill mimicked a similar proposal in Florida that was defeated, as well as recently introduced legislation in Pennsylvania, to prohibit charging interchange fees on sales tax or tip amounts. Each violation would be a $1,000 fine. While in theory affecting only Illinois, questions need to be addressed on credit card usage by Michigan credit union members travelling to, doing business in, or living in Illinois. The legislation will not be effective until next year, and there may be opportunities to amend it before it becomes effective, but our team will be working closely with AACUL, America’s Credit Unions, and our fellow leagues to assess the impact and provide information to our members. As mentioned in our last edition, our team is monitoring an exchange between the Michigan Department of Treasury and the retail community on interchange here at home. Treasury has indicated their intent to assess sales tax on surcharge amounts that retails use to offset interchange costs. As this conversation inevitably percolates into our legislative process, our team will remain vigilant to head off similar threats seen in other states.

In Washington, D.C., the credit union industry has been focused on proposed amendments to the National Defense Authorization Act (NDAA) dealing with the Overseas Military Banking Program, as well as fending off attempts to include language on credit interchange reform. In conjunction with the Senate Appropriations Committee’s Financial Services and General Government (FSGG) Subcommittee hearing and markup on the federal FY 2025 Treasury Department budget request and spending bill, America’s Credit Unions shared our industry’s support for increased CDFI Fund, Community Development Revolving Loan Fund (CDRLF), and FinCEN funding, as well as support for the CDFI Fund Transparency Act in both chambers. The House Subcommittee approved its FY 2025 spending bill by voice vote, and the legislation now moves to the full Committee for consideration.

For a full update on state and federal regulatory action, please see the “Reg Corner” update in this edition of MILeague Minute.

Grassroots and Advocacy Funding

Information on the 2024 ASFM Golf Outing on July 10 has been sent, and thank you to everyone that has registered! The event is coming up quickly and we hope to see you all there. As with every year, this event benefits the Michele Myrick Scholarship Fund to assist credit union officials and volunteers in attending important events like Hike the Hill, America’s Credit Unions GAC, and next year’s MCUL GAC. We look forward to seeing you there, and please contact Kieran (Kieran.Marion@mcul.org) with any questions. Look for details in the coming week!


The stage is set for the August Primary Election. As per our normal practice during election cycles, a full list of endorsed state and federal candidates will continue to be included at the bottom of this update and will be updated onto our website. Now that the filing deadline has passed and candidate surveys have been sent, we expect the list to begin growing after the June 17 meeting of the Executive Committee of the Government and Political Affairs Forum.

As always, thank you for all that you do for Michigan’s credit unions!  


Patty Corkery and the MCUL Advocacy Team


2024 Election Endorsements:

U.S. Senate

U.S. Rep. Elissa Slotkin

MCULAF is a state-registered political action committee that makes campaign contributions to candidates for elective office in Michigan. Contributions to MCULAF are not tax deductible. Contributions to MCULAF are completely voluntary and will be used for political purposes. You have the right to refuse without any reprisal. Must be 18 years or age or older to participate. Must be a qualified employee (professional, supervisory, managerial and administrative non-clerical position) of the MCUL & Affiliates or a member or qualified employee of an affiliated Michigan credit union. 

Contributions to MCULLAF are not considered charitable contributions or business expenses for income tax purposes. Contributions to MCULLAF are completely voluntary and will be used for political purposes. There shall be no reprisal for those who decide not to contribute. Must be a qualified member of a participating MCUL-affiliated credit union, U.S. citizen and 18-years of age or older to participate. 

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