Legislative Update with Jay Kruse
by Jay Kruse
Chief Advocacy Officer
8/6/2019

Good morning! The August recess has arrived for both the Senate and House, as Congress heads back home for their month long, in-district work period. As we enter this congressional break, there are three key priorities demonstrating the credit union difference that we will be advocating in support of prior to Congress reconvening in September.

 

1. NDAA: Urging Members to oppose Section 2821 of the Senate NDAA Bill. Section 2821 would provide rent-free access to military installations for more complex, profit-centered banks. The Federal Credit Union Act already provides for similar access to member owned, not-for-profit credit unions that return their earnings back to their members living on the military bases they serve.

 

2. Cannabis Banking: Support for the SAFE Banking Act (H.R. 1595 & S. 2100) which would enhance public safety by getting large amounts of cash off the streets.

 

3. Data Security: It's time to pass a national standard requiring all industries to protect consumer data and privacy.

 

We Need Your Stories!

 

Following recess, CUAD is hosting our annual fall Legislative/Regulatory Hike-the-Hill in Washington D.C., to continue to engage the Dakotas’ Congressional delegation on the issues listed above, in addition to some other items included in our federal advocacy agenda. As part of our trip, we will be meeting with the NCUA, CFPB, and our elected representatives to voice your concerns. While we do have a long list of legislative and regulatory priorities we plan to discuss, we want to make sure we cover everything that is important to your credit union and its members.

 

Even if you are unable to attend this year, we are asking all members to provide us with any regulatory or legislative issues that are important to your credit union, including specific stories or examples of how these issues are affecting your membership. This helps ensure our meetings in Washington are as efficient and effective as possible. If you have a story to share, please reach out to either Amy Kleinschmit or me, at mailto:jkruse@cuad.coop as soon as possible.

 

If you have questions, concerns, or feedback regarding these or any other advocacy issues, please do not hesitate to contact me. Have a great week!

 

 

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