Page 21 - MCUL: Contact Magazine - Q4 2019

U.S. Rep. Brenda Lawrence (D-Southfield)
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On the morning of the next day, MCUL and credit union attendees met with Zachary
Weber, legislative assistant for U.S. Rep. Brenda Lawrence. Lawrence, who sits on
the House Committee on Oversight and Reform, had been called unexpectedly into
committee activities at the same time. Weber engaged in thoughtful discussion with
the group on the credit union difference, the not-for-profit tax status, consumer data
security and breach notification, cannabis banking, the CECL “stop and study” bill and
BSA/AML reform. Given Lawrence’s role on the Committee, Weber was also able to
share with the group some of the overall tenor on the Hill surrounding impeachment
inquiry proceedings and the sudden passing of Committee Chairman U.S. Rep. Elijah
Cummings (D-Md.). The group thanked Weber for Lawrence’s continued support for
credit union issues and the not-for-profit tax status, and the League’s appreciation
for joining member credit unions this past summer at the AC&E in Detroit.
U.S. Rep. Paul Mitchell (R-Dryden)
In a meeting with U.S. Rep. Paul Mitchell, he said he was very interested in CECL
“stop and study” legislation. Mitchell mentioned that he would be happy to reach out
to other members of the congressional delegation to send a letter to FASB about the
importance of a phase-in for the CECL standards. The congressman also said he
continues to support the not-for-profit tax structure, and the team wrapped up the
meeting with a discussion of the BSA/AML legislation and the need for increased
data security standards at the federal level.
U.S. Rep. Andy Levin (D-Bloomfield Township)
U.S. Rep. Andy Levin was able to meet with the MCUL team briefly before having to
leave for votes on the House floor. The team had the opportunity to meet further
with his legislative aide. The CECL “stop and study” bill was, once again, a hot topic,
as well as reforms to BSA/AML, to which Levin and his aide were very supportive.
The MCUL team took this opportunity to thank the congressman for his support of
the SAFE Banking Act of 2019 as well as the Stop Bad Robocalls Act. Levin and his
aide also addressed their continued support of credit unions and the not-for-profit
tax status.
U.S. Rep. Jack Bergman (R-Watersmeet)
The meeting with U.S. Rep. Jack Bergman’s office began with his banking legislative
assistant, Remy Fortin, until the congressman was able to join a few minutes later.
The group spoke about the credit union difference and the not-for-profit tax status,
and advocates mentioned their work with UAW employees and suppliers during the
strike in the fall. Bergman discussed his stance on the SAFE Banking Act of 2019
and why, ultimately, he voted against the bill. Advocates expressed a desire to
keep the dialogue open on the issue should the SAFE Banking Act of 2019 return
to the House and since the STATES Act is still pending. Other credit union priorities
discussed were BSA/AML reforms, robocall legislation, CECL “stop and study” leg-
islation, data privacy/security and updates to the Federal Credit Union Act.
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