2025 third_quarter Filing

While MCUL takes no position on the issue of cannabis legalization, it supports the introduction and passage of legislation that would provide a safe harbor for financial institutions to serve their members needs in states where cannabis use has become legal. MCUL stands opposed to efforts to change the existing credit card interchange system by expanding requirements under the so-called Durbin Amendment established under the Dodd-Frank wall Street Reform and Consumer Protection Act of 2010. We have been educating our delegation on the importance of the current credit card interchange system with regard to ensuring consumer data remains secure and private and are asking our delegation to oppose any legislation of this type, including the Credit Card Competition Act, if reintroduced. We continue to educate our congressional delegation on voluntary overdraft protection services offered by credit unions and the value our members place on these services. MCUL is opposed to legislation that would severely limit a financial institution's ability to offer these voluntary, opt-in services to our members who want access. MCUL is urging Congress to fully fund the CDFI program in FY26 and call on the Administration to release FY25 that were appropriated so awardees can utilize those dollars to carry out programs and services that assist people in need. We are also calling on Congress to improves program transparency, accountability and oversight. MCUL is supporting H.R. 3445, the Bureau of Consumer Financial Protection Commission Act, that would restructure the CFBP from a one director led agency to a 5-member commission led agency.