League advocacy priorities amid COVID-19
Published by: Emily Leite
March 19, 2020 | Government Affairs, Public Awareness, Regulatory
During the dynamic COVID-19 situation, the League is committed to keeping you updated on the work we’re doing on behalf of your credit union and its members through federal and state legislative, political and regulatory advocacy.
The League is working with state and federal stakeholders to ensure Ohioans are given full financial support through credit unions and other financial service providers. The financial service community is jointly committed to identifying immediate actions that can be taken to lessen the economic severity for your credit union and its members and member businesses.
Here’s a summary of what we’ve been up to so far:
- The League coordinated a phone call Wednesday morning with Lt. Governor Jon Husted and the DeWine administration so the state could update credit union leaders and hear their reactions. Subsequently, the DeWine administration issued a public statement encouraging consumers to trust their credit unions and avoid withdrawing large amounts of money unless necessary. Additionally, the administration is working to identify meaningful regulatory relief provisions regulations so credit unions can best serve their members’ ongoing challenges.
- Similarly, the CUNA/League system encouraged NCUA to help credit unions by moving to remote or delayed examinations, applying capital forbearance, and permitting virtual board and membership meetings.
- The League is working with the Ohio Congressional delegation to fully fund the Community Development Financial Institutions and Community Development Revolving Loan Funds to immediately infuse capital into the market to ease lending and service barriers for credit unions.
For the foreseeable future, all League legislative and political events are postponed as we redirect our full efforts to serving you through proactive and meaningful advocacy outreach. Thank you for your patience and support.
Please feel free to connect with League Senior Vice President of Advocacy Emily Leite for any advocacy–related questions.
T: (614) 923-9770
C: (614) 581-8460