Movement advocacy hits the ground running in 2023

Published by: Jared Weiser

February 8, 2023 | Government Affairs

League advocacy got off to a fast start this year with two significant victories in January. Thanks to efforts by Buckeye State Credit Union and the League, the U.S. Department of the Treasury chose to delay new Community Development Financial Institution (CDFI) application rules that could have prohibited credit union participation in the program. Delaying the proposed changes will allow time for all CDFIs and Leagues to carefully review the rules and provide constructive comments.

Additionally, the U.S. House of Representatives passed H.R. 582, the Credit Union Board Modernization Act, which would allow federally-chartered credit unions the ability to adopt reasonable governance practices that best meet membership obligations. The legislation modernizes federally chartered credit union board meeting frequency requirements to no less than six times per year. League advocacy efforts now turn to the U.S. Senate, where we will continue championing this commonsense and bipartisan legislation.

Contact Jared Weiser for questions or assistance.

Jared Weiser
Jared Weiser Director, Legislative Affairs E: jweiser@ohiocul.org
Contact Us

Other Movement News

Government Affairs

League advocates for “clean” NDAA funding bill

In a gridlocked Congress, must-pass federal spending bills open an opportunity to accomplish policy initiatives that can either promote or inhibit credit unions from serving their members. That’s why the […]
Regulatory

Ohio shows united opposition to debit interchange rule

Cards, compliance, and cybersecurity all have a cost, and that is why the League submitted a comment letter expressing serious concern and vehement opposition to the Federal Reserve’s proposal to […]
Member Benefits

Trending on Huddle: Are you a part of the discussion?

Connecting and collaborating are part of what makes the Credit Union Movement unique to financial services and continue to be a cornerstone of its collective success. The League’s online community, […]