Legislative Advocacy

Stay up-to-date and get involved with federal and state issues affecting credit unions

Federal Legislative Issues

Data Breaches

Recent high-profile data breaches exposed shortcomings with federal merchant data security standards, which are less stringent than privacy protection requirements for financial institutions.Despite the problems arising from the lack of adequate standards on merchants, the costs of data breaches largely fell on financial institutions.

Thus in the case of credit unions, members pay. According to figures from CUNA, the Target data breach cost credit unions across the nation $30.7 million. While the Home Depot breach cost credit unions $57.4 million. With millions of cards reissued in both cases. Check the links below for more information and to get involved.

-Data Breach Talking Points

-State-by-State Cost of Target Data Breach



Strengthening the Tenth Amendment Through Entrusting States (STATES) Act of 2018

Sen. Gardner has filed his Strengthening the Tenth Amendment Through Entrusting States (STATES) Act of 2018 as an Amendment to the criminal justice reform bill currently being debated on the floor of the U.S. Senate.  Attached is a letter of support for the amendment from CUNA.

You may recall that this bill exempts states that have legalized marijuana from the Federal Controlled Substances Act, which would provide certainty to financial institutions to provide services to marijuana-related businesses.  Also attached is the letter MWCUA sent in June with the Maine League supporting the legislation.

MWCUA MCUL STATES Act Letter of Support 6.7.18 (005) STATES Act




Credit Union Tax Status

The federal tax exemption was granted to credit unions because of their not-for-profit cooperative structure. In talks of balancing the federal budget and comprehensive tax reform, banks have again proposed eliminating the exemption. The materials below explain why the exemption was granted/should be preserved and the benefits conferred on consumers because of credit union’s structure.

-Tax Status Overview

-Arizona-Benefits of Credit Union Membership

-Colorado-Benefits of Credit Union Membership

-Wyoming-Benefits of Credit Union Membership

-Don’t Tax My Credit Union


Removing Regulatory Barriers

Credit unions face a crisis of creeping complexity with respect to regulatory burden. Every dollar a credit union spends on complying with regulation is a dollar not used for the benefit of its members. Most of the costs of compliance do not vary by size, and therefore proportionately are a much greater burden for smaller as opposed to larger institutions.

-Regulatory Burden Talking Points


NCUA’s Risk Based Capital Proposed Rule (RBC2)

The NCUA recently reissued its risk based capital proposed rule. We ask that Congress consider the new proposal and giving credit unions access to supplemental capital to meet the new risk-based capital requirements.

-CUNA’s RBC2 Update Blog

Contact Your Federal Representatives on Issues Impacting Credit Unions

State Legislative Issues

Check back for more information on state legislative issues in 2018.

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