Promoting and protecting credit union interests in Congress

Published by: Emily Leite

May 14, 2020 | Government Affairs

As your credit union continues to focus on providing financial relief for members impacted by the pandemic, the League is scanning the federal horizon for opportunities to promote and protect credit union interests. More recently, the U.S. House of Representatives introduced a large relief measure, or the Health and Economic Recovery Omnibus Emergency Solutions Act (HEROES) Act, geared towards corrections, enhancements, and extensions to provisions in the CARES Act. The HEROES Act provisions empowering credit unions include increasing CDFI funding to $1 billion, legalizing banking services to cannabis-related businesses, and amending the Paycheck Protection Program to accommodate additional guidance and flexibilities. Some of the provisions inhibiting credit unions are required mortgage and foreclosure moratoriums, stimulus fund garnishment and offset prohibition, and bankruptcy protection modifications.

The League is closely monitoring the HEROES Act to further empower financial cooperatives without the application of a one-size-fits-all approach to federal and state recovery efforts. Please contact a member of the League’s government affairs team with any questions or concerns.

CONTACT US

E: eleite@ohiocul.org
T: (614) 923-9770
C: (614) 581-8460

E: cfleming@ohiocul.org
T: (614) 923-9705
C: (614) 395-0371

E: acanan@ohiocul.org
T: (614) 923-9710
C: (614) 512-0330

Other Movement News

Government Affairs

Help advance Credit Unions: Hike with your peers to D.C.

The most impactful credit union advocacy moments are real-life examples of how your credit union influences the financial well-being of members. These facts, stories, and real-world demonstrations of the credit […]
Regulatory

Financial services stand united in Ohio Supreme Court

When the stroke of a pen could alter the landscape of the financial services industry, all parties involved must find a way to unite and stand up for the people, […]
Member Benefits

Top-trending HR policies to review

Human resources are an ever-evolving landscape for employers to navigate, which is why the League provides relevant tools and guidance to help members. One of the most valuable tools members […]