September 17, 2024

Dear Credit Union Leaders, 

Football season is officially underway, and optimism is in the air for our Detroit Lions! We will not ruin anything the Tigers may or may not be doing by speaking of it. As we head toward October, here are the updates you need!

Announcements

The next “Cheers! To Compliance” session is scheduled for Sept. 27. We are looking forward to hearing from the CFPB about the small business lending rule, as well as the state Department of Health and Human Services on new capabilities for reporting on financial exploitation. For more information, please contact Brad (Bradley.Willett@mcul.org).

Advocacy

In Lansing, the State Legislature has “returned” from its summer recess, but as previously mentioned, we expect that the House will only return for actual voting once during the month of September. The Senate will be more active, although likely selective in what they take up as we approach the General Election.  Our team remains focused on proposed garnishment and collections reform, and action remains possible in the Senate FICP Committee this month. The bill sponsors have provided another round of proposed changes which are under review, and have been circulated to the MCUL’s Government and Political Affairs Forum, and our State and Federal Issues Committee. Amending the newly re-instated mandatory paid sick leave provisions and minimum wage increase is an active legislative push by the greater, united business community. While the legislative schedule may preclude action before the General Election, there is optimism that both parties recognize the need for changes for employers to functionally implement what will be required. Our team will be actively engaged on this in the fall, and stay tuned for opportunities for you to weigh in with your policymakers!

Our U.S. Congress has returned to session in Washington, D.C. as well. We continue to monitor efforts related to interchange reform, in particular as “must-pass” bills begin to get more traction toward the end of the year.  As previously mentioned, we continue to urge our credit union community to reach out to our federal lawmakers to convey opposition to the Protecting Consumers from Payment Scams Act (H.R. 9303 and S. 4943, respectively). These bills,  introduced by U.S. Rep. Maxine Waters (D-CA) in the U.S. House and U.S. Sens. Richard Blumenthal (D-CT) and Elizabeth Warren (D-MA) in the U.S. Senate, would amend the Electronic Fund Transfer Act (EFTA) to define an unauthorized transfer as one that includes a fraudulently induced transfer, and requiring financial institutions to reimburse consumers for this type of fraud.  If you have not yet used it, an Action Alert has been set up to assist credit unions in contacting their members of the U.S. Congress to communicate opposition to this measure. We do not expect this to pass this session, but we want to get ahead of it for next session and to continue to combat the growing drumbeat to shift accountability from other parties on to financial institutions.  

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

Thank you to the nearly 50 credit union officials and volunteers that joined us in Washington, D.C. last week for Hike the Hill and the America’s Credit Unions Congressional Caucus! Our group was able to meet with our entire delegation, except for outgoing U.S. Sen. Debbie Stabenow who will be rescheduled stateside for a meeting or virtual session soon. We had fruitful discussions with policymakers on interchange, cybersecurity and fraud, the EFT Act and Regulation E, modernizing the Federal Credit Union Act, CDFI certification and funding, credit union acquisition of bank assets, “junk fee” rhetoric, and more.  The event was a success!  DaeSean Ashby from our team also attended the Congressional Black Caucus Annual Legislative Conference (CBC ALC) in Washington, D.C. last week. The CBC ALC is a premier event and unique platform where thought leaders, legislators, influencers, and concerned citizens converge to discuss and address critical issues, forge partnerships and promote the political, economic and social advancement of Black communities.

We’re already planning ahead for 2025 America’s Credit Unions GAC in March of next year! Information on 2025 America’s Credit Unions GAC registration was released by America’s credit unions this morning, and hotel information from the League has been released as well. Please contact Todd (Todd.Jorns@mcul.org) with any questions.

We also enjoyed our second attempt at the 2024 ASFM Golf Outing held on Sept. 6! Thank you to all of our golfers, sponsors, and partners, and congratulations to the winners! Prizes will be forwarded shortly.

Elections

As noted previously, the November General Election will take place on Nov. 5. 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. The next meeting of the Executive Committee of the Government and Political Affairs Forum where endorsements will be considered is Aug. 26.

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

Sincerely,

Patty Corkery and the MCUL Advocacy Team

 

2024 Election Endorsements:

U.S. Senate

U.S. Rep. Elissa Slotkin

U.S. House

U.S. Rep. Jack Bergman, 1st District
U.S. Rep. John Moolenaar, 2nd District
U.S. Rep. Hillary Scholten, 3rd District
U.S. Rep. Bill Huizenga, 4th District
U.S. Rep. Tim Walberg, 5th District
U.S. Rep. Debbie Dingell, 6th District
U.S. Rep. Lisa McClain, 9th District
U.S. Rep. John James, 10th District
U.S. Rep. Haley Stevens, 11th District
U.S. Rep. Rashida Tlaib, 12th District
U.S. Rep. Shri Thanedar, 13th District

State House of Representatives

Rep. Karen Whitsett (D) – 4^th District
Rep. Natalie Price (D) – 6^th District
Rep. Erin Byrnes (D) – 15^th District
Rep. Stephanie Young (D) – 16^th District
Rep. Matt Kolezar (D) – 22^nd District
Rep. William Bruck (R) – 30^th District
Rep. Reggie Miller (D) – 31^st District
Rep. Julie Rogers (D) – 41^st District
Rep. Sarah Lightner (R) – 45^th District
Rep. Kathy Schmaltz (R) – 46^th District
Rep. Ann Bollin (R) – 49^th District
Rep. Brenda Carter (D) – 53^rd District
Rep. Donni Steele (R) – 54^th District
Rep. Mark Tisdel (R) – 55^th District
Rep. Nate Shannon (D) – 58^th District
Rep. Joe Aragona (R) – 60^th District
Rep. Denise Mentzer (D) – 61^st District
Rep. Jaime Greene (R) – 65^th District
Rep. Kara Hope (D) – 74^th District
Rep. Penelope Tsernoglue (D) – 75^th District
Rep. Angela Witwer (D) – 76^th District
Rep. Gina Johnsen (R) – 78^th District
Rep. Carol Glanville (D) – 84^th District
Rep. Bradley Slagh (R) – 85^th District
Rep. Nancy DeBoer (R) – 86^th District
Rep. Jerry Neyer (R) – 92^nd District
Former Rep. Tim Kelly (R) – 93^rd District
Rep. Tom Kunse (R) – 100^th District
Rep. Joseph Fox (R) – 101^st District
Rep. Curt VanderWall (R) – 102^nd District
Rep. David Prestin (R) – 108^th District
Rep. Greg Markkanen (R) – 110^th District

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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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