Georgia credit unions recently sat down with federal and state legislators who serve on key committees that drive the policy discussion on many of the issues of importance to the industry. Bills are routinely vetted in the committee process at both the state and federal level, and the banking committee members debate many of the bills that matter to the industry before they reach the floor for a vote – if the bills reach the floor at all. As such, it is vital that the individuals who serve on these committees understand credit unions and how they shape life for the better in their districts:
- On June 1st LGE Community CU and GCUA sat down with U.S. Rep. Barry Loudermilk (R-11) to discuss the CHOICE Act, which is the Dodd-Frank Act alternative bill. Rep. Loudermilk serves on the U.S. House Financial Services Committee, which recently passed the Dodd-Frank alternative bill: the Financial CHOICE Act H.R. 10. Rep. Loudermilk was a strong proponent of an early attempt to repeal the Durbin Amendment, which was removed after it had left the committee process. During the meeting with credit unions, the discussion focused on what Congress can do to help alleviate regulatory burden, fair credit reporting, fair debt collection act issues, and the need for Consumer Financial Protection Bureau reform.
On June 6th Altamaha FCU, Five Star CU, Glynn County Federal Employees CU, Interstate Unlimited FCU, Marshland CU, United 1st FCU and GCUA sat down with State Sen. William Ligon (R-Brunswick) in the district. Ligon was appointed in 2017 to serve as the chairman of the Senate Banking Committee, placing him in a key role for credit unions. In this leadership role, he has direct control over many bills that touch credit unions from lending, liens, foreclosures, board member protections, field of membership, and credit union operations. Sen. Ligon has been consistently supportive of credit union issues, and not by accident. These credit unions at the meeting were instrumental in developing a relationship with Sen. Ligon early in his legislative career, positioning the industry to have a strong ally.