August 12, 2025
Dear Credit Union Leaders,
We are already nearing the end of summer! As we weather the August heat, here are the updates you need.
Advocacy
In Lansing, the state legislature remains largely recessed for the summer, although they will return toward the end of August to resume work on the budget and a potential road funding package.
In Washington D.C., the following items were noteworthy:
H.R. 2808, the Homebuyers Privacy Protection Act dealing with mortgage trigger leads, was passed in the Senate and sent to the President for signature. The bill prohibits a credit reporting agency from providing a consumer's credit report to a third party in connection with a residential mortgage transaction unless the transaction consists of a firm offer of credit or insurance and either the third party provides documentation certifying that it has the consumer's consent; or the third party has originated a mortgage on behalf of the consumer, is a current mortgage loan servicer to the consumer or has a current specified banking relationship with the consumer (ie. is their bank or credit union). MCUL, America’s Credit Unions and the state Leagues support the bill.
U.S. Sen. Elissa Slotkin joined U.S. Sen. Gary Peters as a co-sponsor of S. 522, the Senate version of the Credit Union Board Modernization Act. The bill would allow federally chartered credit unions in good standing to convene their boards of directors 6 times per year instead of 12. There are now 44 co-sponsors of the bill in the Senate. H.R. 975, the House’s version spearheaded by U.S. Reps. Bill Huizenga and Juan Vargas (D-CA), passed that chamber earlier this year and awaits further consideration in the Senate. Michigan’s U.S. Rep. Hillary Scholten is also among that bill’s 22 co-sponsors. MCUL, America’s Credit Unions and the state Leagues support both versions of this bill, and urge swift action to bring this issue to passage.
A bipartisan group of 26 U.S. Senators sent a letter to Office of Management and Budget to request information on the deployment of federal CDFI program funds, as part of ongoing efforts to preserve and release funding in support of these critical programs. As mentioned in the last edition, the Financial Services and General Government (FSGG) bill was marked up by the U.S. House Appropriations Subcommittee last month. America’s Credit Unions, Inclusiv, MCUL and the state Leagues continue to advocate in support of the CDFI Fund and the NCUA Community Development Revolving Loan Fund (CDRLF) in the face of steep proposed cuts. America’s Credit Unions and the state Leagues support continued, full funding for these critical programs that enable credit unions to serve and impact underserved communities.
President Trump issued an Executive Order on Aug. 7 to prohibit the targeting and debanking of individuals based on political or religious beliefs, or other business activities construed as related to such. The EO can be found at Guaranteeing Fair Banking For All Americans – The White House.
As mentioned previously:
H.R. 4544, the American Access to Banking Act, advanced out of the U.S. House Financial Services Committee’s markup. This legislation would address persistent and burdensome challenges to formation that new credit unions and community banks face. It would require federal financial regulators to review and streamline the application process to create a bank or credit union; establish mentorship and outreach programs; improve capital formation pathways; establish dedicated points of contact for applicants through casework support; encourage greater collaboration between federal and state regulators. America’s Credit Unions and the state Leagues support the bill.
H.R. 4735 and S 2419, dual versions of the Business of Insurance Regulatory Reform Act, were introduced to ensure the CFPB does not expand its authority under the Consumer Financial Protection Act (CFPA). The bills would amend the CFPA to revise the authority of the CFPB over activities regulated by a state insurance regulator by exempting the business of insurance from CFPB oversight. America’s Credit Unions and the state Leagues support the bill.
For a full update on state and federal regulatory action, please see the “Reg Corner” update in this edition of MI League Minute.
Grassroots and Advocacy Funding
As a reminder for those credit unions participating in the 2025-2026 Plush Program for our State PAC, we have scheduled a pair of “Know Before You Sell” calls for next week, on August 19 and 20. Details on those calls will be sent to the credit union’s plush contact, and please contact DaeSean (DaeSean.Ashby@mcul.org) Laura (Laura.Osminski@mcul.org) with any questions.
Hike the Hill is getting closer, on Sept. 15-17! We still need more advocates!! You can access details and hotel information at Hike the Hill - Michigan Credit Union League, and please contact Todd (Todd.Jorns@mcul.org) with any questions. For questions on scholarships, please contact Laura (Laura.Osminksi@mcul.org) or Kieran (Kieran.Marion@mcul.org).
As mentioned in the last edition, news about next year’s America’s Credit Unions GAC will begin to flow in September. Michigan will have a block of rooms once again this year. Once we receive them, our team will be working through the most efficient way to help ensure that those that need hotel rooms have access to them. Please contact Todd with any questions, and stay tuned!
Elections
Former U.S. Rep. Mike Rogers still remains the only formally announced candidate for the Republican nod for U.S. Senate next year. U.S. Rep. Bill Huizenga announced publicly that he will not challenge former U.S. Rep. Mike Rogers for the Republican nod for U.S. Senate next year. This does set up an interesting potential matchup against state Sen. Sean McCann in next year’s General Election contest in Rep. Huizenga’s currently-held 4th Congressional District seat, should Sen. McCann emerge from any Primary contest. There have been no recent additions into the Democrat’s primary race for the U.S. Senate seat. However, former state House Speaker Joe Tate has announced that he will withdraw his name from the race. This leaves state Sen. Mallory McMorrow, Dr. Abdul El-Sayed, and U.S. Rep. Haley Stevens as the announced candidates in that field.
As mentioned previously, Lt. Gov. Garlin Gilchrist II, Secretary of State Jocelyn Benson, and Genesee County Sheriff Chris Swanson have all announced they will seek the Democrat nomination for Governor next year, along with Detroit Mayor Mike Duggan seeking the office as an Independent. Former Attorney General Mike Cox, U.S. Rep. John James, state Senate Minority Leader Aric Nesbitt, and former state House Speaker Tom Leonard have announced they will seek the Republican nomination.
Neither U.S. Rep. Tom Barrett nor U.S. Rep. Kristen McDonald-Rivet have primary challengers in next year’s contest for the 7th and 8th Congressional Districts, but both now have challengers in the General Election. With U.S. Rep. John James intending to vacate the 10th Congressional District to run for Governor, a number of challengers have indicated interest in the seat on both sides of the aisle. Most recently, former U.S. Rep. Mike Bishop indicated on social media that he will explore the idea of running for that seat as well.
As always, thank you for all that you do for Michigan’s credit unions!
Sincerely,
Patty Corkery and the MCUL Advocacy Team
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