TODD JORNS

Lapses by the retail industry/merchants in securing consumer information continue to be extremely problematic and costly to consumers and financial institutions. MCUL is advocating that Congress hold retailers to the same or similar data security standard as the financial service industry has to abide by and require that retailers notify credit unions sooner once a breach occurs. We support the introduction and passage of legislation that ensures all businesses, institutions and organizations that collect, collect, use or share personal data subject to national standards, to include language that preempts state requirements, among other things. Credit Unions are fighting a significant surge in fraud/scams that is costing American consumers billions annually. MCUL is educating lawmakers on the impact fraud is having on members and on credit unions. Credit unions are supporting three fraud related bills currently: H.R. 9331, the Strengthening Transaction Oversight and Preventing (STOP) Payments Fraud Act; S.2019/H.R. 4936, the Task Force for Recognizing and Averting Payment Scams (TRAPS) Act; and S.3774/H.R. 7548, the Safeguarding Consumers from Advertizing Misconduct (SCAM) Act. We are urging our delegation to support the legislation and call on leadership to pass the bills. MCUL supports modernizing the Federal Credit Union Act (FCUA). The financial service industry is rapidly changing. Advancements in technology, including high speed internet connectivity, have significantly changed our society and how financial institutions do business. Updating the FCUA has become necessary to ensure federally chartered credit unions have the powers and flexibility to be competitive and members can benefit from new technology. We are currently supporting the Veterans Member Business Loan Act (S.210/H.R. 507) that would exempt credit union business loans to veterans from the member business lending cap and we are supporting the Credit Union Board Modernization Act (S.522/H.R. 975) which would afford federal credit unions flexibility with regard to how often their boards meet. MCUL is monitoring developments for GSE/housing finance reform and will advocate to make sure any reforms reflect the significant role credit unions play in the secondary mortgage market and we will defend against anything that is potentially harmful to credit unions and their members. MCUL is calling on Congress to pass bank secrecy act/anti-money laundering reforms and provide financial institutions relief from unnecessary, duplicate and burdensome rules and increase the SAR and CTR thresholds. MCUL is urging lawmakers in the House to co-sponsor and support H.R. 1799, the Financial Reporting Threshold Modernization Act which would increase the CTR threshold from $10k to $30k and index it going forward for inflation. It would also increase the SAR threshold from $5k to $10k. MCUL is educating members of our congressional delegation on the growing interest among credit union members and credit unions in cryptocurrency. We believe Congress should explore ways to regulate the delivery of financial services using digital currencies to ensure consumers are protected in the same way if they received financial services a financial institution. We urge Congress to look for ways to enable credit unions and other financial institutions to provide digital assets, so that these services can be properly overseen by federal regulators. Finally, credit unions seek parity with other financial institutions in this area as credit unions must be able to offer digital/crypto products and services directly to their members in the same way that other institutions can to their customers. Lastly, credit unions are non-for-profit member-owned financial institutions. Credit unions' consumer-focused model is self-regulating and a principal reason why credit unions are not covered by the Community Reinvestment Act (CRA). MCUL will educate members of the delegation of the work credit unions are doing to serve low/moderate-income, diverse communities and the negative impacts of including credit unions in the CRA. We will oppose efforts that would result in credit unions of any size being included in the CRA.

Lapses by the retail industry/merchants in securing consumer information continue to be extremely problematic and costly to consumers and financial institutions. MCUL is advocating that Congress hold retailers to the same or similar data security standard as the financial service industry has to abide by and require that retailers notify credit unions sooner once a breach occurs. We support the introduction and passage of legislation that ensures all businesses, institutions and organizations that collect, collect, use or share personal data subject to national standards, to include language that preempts state requirements, among other things. MCUL supports modernizing the Federal Credit Union Act (FCUA). The financial service industry is rapidly changing. Advancements in technology, including high speed internet connectivity, have significantly changed our society and how financial institutions do business. Updating the FCUA has become necessary to ensure federally chartered credit unions have the powers and flexibility to be competitive and members can benefit from new technology. We are currently supporting the Veterans Member Business Loan Act (S.210/H.R. 507) that would exempt credit union business loans to veterans from the member business lending cap and we are supporting the Credit Union Board Modernization Act (S.522/H.R. 975) which would afford federal credit unions flexibility with regard to how often their boards meet. MCUL is monitoring developments for GSE/housing finance reform and will advocate to make sure any reforms reflect the significant role credit unions play in the secondary mortgage market and we will defend against anything that is potentially harmful to credit unions and their members. MCUL is calling on Congress to pass bank secrecy act/anti-money laundering reforms and provide financial institutions relief from unnecessary, duplicate and burdensome rules and increase the SAR and CTR thresholds. MCUL is urging lawmakers in the House to co-sponsor and support H.R. 1799, the Financial Reporting Threshold Modernization Act which would increase the CTR threshold from $10k to $30k and index it going forward for inflation. It would also increase the SAR threshold from $5k to $10k. MCUL is educating members of our congressional delegation on the growing interest among credit union members and credit unions in cryptocurrency. We believe Congress should explore ways to regulate the delivery of financial services using digital currencies to ensure consumers are protected in the same way if they received financial services a financial institution. We urge Congress to look for ways to enable credit unions and other financial institutions to provide digital assets, so that these services can be properly overseen by federal regulators. Finally, credit unions seek parity with other financial institutions in this area as credit unions must be able to offer digital/crypto products and services directly to their members in the same way that other institutions can to their customers. Lastly, credit unions are non-for-profit member-owned financial institutions. Credit unions' consumer-focused model is self-regulating and a principal reason why credit unions are not covered by the Community Reinvestment Act (CRA). MCUL will educate members of the delegation of the work credit unions are doing to serve low/moderate-income, diverse communities and the negative impacts of including credit unions in the CRA. We will oppose efforts that would result in credit unions of any size being included in the CRA.

Lapses by the retail industry/merchants in securing consumer information continue to be extremely problematic and costly to consumers and financial institutions. MCUL is advocating that Congress hold retailers to the same or similar data security standard as the financial service industry has to abide by and require that retailers notify credit unions sooner once a breach occurs. We support the introduction and passage of legislation that ensures all businesses, institutions and organizations that collect, collect, use or share personal data subject to national standards, to include language that preempts state requirements, among other things. MCUL supports modernizing the Federal Credit Union Act (FCUA). The financial service industry is rapidly changing. Advancements in technology, including high speed internet connectivity, have significantly changed our society and how financial institutions do business. Updating the FCUA has become necessary to ensure federally chartered credit unions have the powers and flexibility to be competitive and members can benefit from new technology. We are currently supporting the Veterans Member Business Loan Act (S.210/H.R. 507) that would exempt credit union business loans to veterans from the member business lending cap and we are supporting the Credit Union Board Modernization Act (S.522/H.R. 975) which would afford federal credit unions flexibility with regard to how often their boards meet. MCUL is monitoring developments for GSE/housing finance reform and will advocate to make sure any reforms reflect the significant role credit unions play in the secondary mortgage market and we will defend against anything that is potentially harmful to credit unions and their members. MCUL is calling on Congress to pass bank secrecy act/anti-money laundering reforms and provide financial institutions relief from unnecessary, duplicate and burdensome rules and increase the SAR and CTR thresholds. MCUL is urging lawmakers in the House to co-sponsor and support H.R. 1799, the Financial Reporting Threshold Modernization Act which would increase the CTR threshold from $10k to $30k and index it going forward for inflation. It would also increase the SAR threshold from $5k to $10k. MCUL is educating members of our congressional delegation on the growing interest among credit union members and credit unions in cryptocurrency. We believe Congress should explore ways to regulate the delivery of financial services using digital currencies to ensure consumers are protected in the same way if they received financial services a financial institution. We urge Congress to look for ways to enable credit unions and other financial institutions to provide digital assets, so that these services can be properly overseen by federal regulators. Finally, credit unions seek parity with other financial institutions in this area as credit unions must be able to offer digital/crypto products and services directly to their members in the same way that other institutions can to their customers. Lastly, credit unions are non-for-profit member-owned financial institutions. Credit unions' consumer-focused model is self-regulating and a principal reason why credit unions are not covered by the Community Reinvestment Act (CRA). MCUL will educate members of the delegation of the work credit unions are doing to serve low/moderate-income, diverse communities and the negative impacts of including credit unions in the CRA. We will oppose efforts that would result in credit unions of any size being included in the CRA.

Lapses by the retail industry/merchants in securing consumer information continue to be extremely problematic and costly to consumers and financial institutions. MCUL is advocating that Congress hold retailers to the same or similar data security standard as the financial service industry has to abide by and require that retailers notify credit unions sooner once a breach occurs. We support the introduction and passage of legislation that ensures all businesses, institutions and organizations that collect, collect, use or share personal data subject to national standards, to include language that preempts state requirements, among other things. Credit Unions are fighting a significant surge in fraud/scams that is costing American consumers billions annually. MCUL is educating lawmakers on the impact fraud is having on members and on credit unions. Credit unions are supporting three fraud related bills currently: H.R. 9331, the Strengthening Transaction Oversight and Preventing (STOP) Payments Fraud Act; S.2019/H.R. 4936, the Task Force for Recognizing and Averting Payment Scams (TRAPS) Act; and S.3774/H.R. 7548, the Safeguarding Consumers from Advertizing Misconduct (SCAM) Act. We are urging our delegation to support the legislation and call on leadership to pass the bills. MCUL supports modernizing the Federal Credit Union Act (FCUA). The financial service industry is rapidly changing. Advancements in technology, including high speed internet connectivity, have significantly changed our society and how financial institutions do business. Updating the FCUA has become necessary to ensure federally chartered credit unions have the powers and flexibility to be competitive and members can benefit from new technology. We are currently supporting the Veterans Member Business Loan Act (S.210/H.R. 507) that would exempt credit union business loans to veterans from the member business lending cap and we are supporting the Credit Union Board Modernization Act (S.522/H.R. 975) which would afford federal credit unions flexibility with regard to how often their boards meet. MCUL is monitoring developments for GSE/housing finance reform and will advocate to make sure any reforms reflect the significant role credit unions play in the secondary mortgage market and we will defend against anything that is potentially harmful to credit unions and their members. MCUL is calling on Congress to pass bank secrecy act/anti-money laundering reforms and provide financial institutions relief from unnecessary, duplicate and burdensome rules and increase the SAR and CTR thresholds. MCUL is urging lawmakers in the House to co-sponsor and support H.R. 1799, the Financial Reporting Threshold Modernization Act which would increase the CTR threshold from $10k to $30k and index it going forward for inflation. It would also increase the SAR threshold from $5k to $10k. MCUL is educating members of our congressional delegation on the growing interest among credit union members and credit unions in cryptocurrency. We believe Congress should explore ways to regulate the delivery of financial services using digital currencies to ensure consumers are protected in the same way if they received financial services a financial institution. We urge Congress to look for ways to enable credit unions and other financial institutions to provide digital assets, so that these services can be properly overseen by federal regulators. Finally, credit unions seek parity with other financial institutions in this area as credit unions must be able to offer digital/crypto products and services directly to their members in the same way that other institutions can to their customers. Lastly, credit unions are non-for-profit member-owned financial institutions. Credit unions' consumer-focused model is self-regulating and a principal reason why credit unions are not covered by the Community Reinvestment Act (CRA). MCUL will educate members of the delegation of the work credit unions are doing to serve low/moderate-income, diverse communities and the negative impacts of including credit unions in the CRA. We will oppose efforts that would result in credit unions of any size being included in the CRA.

Lapses by the retail industry/merchants in securing consumer information continue to be extremely problematic and costly to consumers and financial institutions. MCUL is advocating that Congress hold retailers to the same or similar data security standard as the financial service industry has to abide by and require that retailers notify credit unions sooner once a breach occurs. We support the introduction and passage of legislation that ensures all businesses, institutions and organizations that collect, collect, use or share personal data subject to national standards, to include language that preempts state requirements, among other things. Credit Unions are fighting a significant surge in fraud/scams that is costing American consumers billions annually. MCUL is educating lawmakers on the impact fraud is having on members and on credit unions. Credit unions are supporting three fraud related bills currently: H.R. 9331, the Strengthening Transaction Oversight and Preventing (STOP) Payments Fraud Act; S.2019/H.R. 4936, the Task Force for Recognizing and Averting Payment Scams (TRAPS) Act; and S.3774/H.R. 7548, the Safeguarding Consumers from Advertizing Misconduct (SCAM) Act. We are urging our delegation to support the legislation and call on leadership to pass the bills. MCUL supports modernizing the Federal Credit Union Act (FCUA). The financial service industry is rapidly changing. Advancements in technology, including high speed internet connectivity, have significantly changed our society and how financial institutions do business. Updating the FCUA has become necessary to ensure federally chartered credit unions have the powers and flexibility to be competitive and members can benefit from new technology. We are currently supporting the Veterans Member Business Loan Act (S.210/H.R. 507) that would exempt credit union business loans to veterans from the member business lending cap and we are supporting the Credit Union Board Modernization Act (S.522/H.R. 975) which would afford federal credit unions flexibility with regard to how often their boards meet. MCUL is monitoring developments for GSE/housing finance reform and will advocate to make sure any reforms reflect the significant role credit unions play in the secondary mortgage market and we will defend against anything that is potentially harmful to credit unions and their members. MCUL is calling on Congress to pass bank secrecy act/anti-money laundering reforms and provide financial institutions relief from unnecessary, duplicate and burdensome rules and increase the SAR and CTR thresholds. MCUL is urging lawmakers in the House to co-sponsor and support H.R. 1799, the Financial Reporting Threshold Modernization Act which would increase the CTR threshold from $10k to $30k and index it going forward for inflation. It would also increase the SAR threshold from $5k to $10k. MCUL is educating members of our congressional delegation on the growing interest among credit union members and credit unions in cryptocurrency. We believe Congress should explore ways to regulate the delivery of financial services using digital currencies to ensure consumers are protected in the same way if they received financial services a financial institution. We urge Congress to look for ways to enable credit unions and other financial institutions to provide digital assets, so that these services can be properly overseen by federal regulators. Finally, credit unions seek parity with other financial institutions in this area as credit unions must be able to offer digital/crypto products and services directly to their members in the same way that other institutions can to their customers. Lastly, credit unions are non-for-profit member-owned financial institutions. Credit unions' consumer-focused model is self-regulating and a principal reason why credit unions are not covered by the Community Reinvestment Act (CRA). MCUL will educate members of the delegation of the work credit unions are doing to serve low/moderate-income, diverse communities and the negative impacts of including credit unions in the CRA. We will oppose efforts that would result in credit unions of any size being included in the CRA.

Lapses by the retail industry/merchants in securing consumer information continue to be extremely problematic and costly to consumers and financial institutions. MCUL is advocating that Congress hold retailers to the same or similar data security standard as the financial service industry has to abide by and require that retailers notify credit unions sooner once a breach occurs. We support the introduction and passage of legislation that ensures all businesses, institutions and organizations that collect, collect, use or share personal data subject to national standards, to include language that preempts state requirements, among other things. MCUL supports modernizing the Federal Credit Union Act (FCUA). The financial service industry is rapidly changing. Advancements in technology, including high speed internet connectivity, have significantly changed our society and how financial institutions do business. Updating the FCUA has become necessary to ensure federally chartered credit unions have the powers and flexibility to be competitive and members can benefit from new technology. We are currently supporting the Veterans Member Business Loan Act (S.210/H.R. 507) that would exempt credit union business loans to veterans from the member business lending cap and we are supporting the Credit Union Board Modernization Act (S.522/H.R. 975) which would afford federal credit unions flexibility with regard to how often their boards meet. MCUL is monitoring developments for GSE/housing finance reform and will advocate to make sure any reforms reflect the significant role credit unions play in the secondary mortgage market and we will defend against anything that is potentially harmful to credit unions and their members. MCUL is calling on Congress to pass bank secrecy act/anti-money laundering reforms and provide financial institutions relief from unnecessary, duplicate and burdensome rules and increase the SAR and CTR thresholds. MCUL is urging lawmakers in the House to co-sponsor and support H.R. 1799, the Financial Reporting Threshold Modernization Act which would increase the CTR threshold from $10k to $30k and index it going forward for inflation. It would also increase the SAR threshold from $5k to $10k. MCUL is educating members of our congressional delegation on the growing interest among credit union members and credit unions in cryptocurrency. We believe Congress should explore ways to regulate the delivery of financial services using digital currencies to ensure consumers are protected in the same way if they received financial services a financial institution. We urge Congress to look for ways to enable credit unions and other financial institutions to provide digital assets, so that these services can be properly overseen by federal regulators. Finally, credit unions seek parity with other financial institutions in this area as credit unions must be able to offer digital/crypto products and services directly to their members in the same way that other institutions can to their customers. Lastly, credit unions are non-for-profit member-owned financial institutions. Credit unions' consumer-focused model is self-regulating and a principal reason why credit unions are not covered by the Community Reinvestment Act (CRA). MCUL will educate members of the delegation of the work credit unions are doing to serve low/moderate-income, diverse communities and the negative impacts of including credit unions in the CRA. We will oppose efforts that would result in credit unions of any size being included in the CRA.

Lapses by the retail industry/merchants in securing consumer information continue to be extremely problematic and costly to consumers and financial institutions. MCUL is advocating that Congress hold retailers to the same or similar data security standard as the financial service industry has to abide by and require that retailers notify credit unions sooner once a breach occurs. We support the introduction and passage of legislation that ensures all businesses, institutions and organizations that collect, collect, use or share personal data subject to national standards, to include language that preempts state requirements, among other things. MCUL supports modernizing the Federal Credit Union Act (FCUA). The financial service industry is rapidly changing. Advancements in technology, including high speed internet connectivity, have significantly changed our society and how financial institutions do business. Updating the FCUA has become necessary to ensure federally chartered credit unions have the powers and flexibility to be competitive and members can benefit from new technology. We are currently supporting the Veterans Member Business Loan Act (S.210/H.R. 507) that would exempt credit union business loans to veterans from the member business lending cap and we are supporting the Credit Union Board Modernization Act (S.522/H.R. 975) which would afford federal credit unions flexibility with regard to how often their boards meet. MCUL is monitoring developments for GSE/housing finance reform and will advocate to make sure any reforms reflect the significant role credit unions play in the secondary mortgage market and we will defend against anything that is potentially harmful to credit unions and their members. MCUL is calling on Congress to pass bank secrecy act/anti-money laundering reforms and provide financial institutions relief from unnecessary, duplicate and burdensome rules and increase the SAR and CTR thresholds. MCUL is urging lawmakers in the House to co-sponsor and support H.R. 1799, the Financial Reporting Threshold Modernization Act which would increase the CTR threshold from $10k to $30k and index it going forward for inflation. It would also increase the SAR threshold from $5k to $10k. MCUL is educating members of our congressional delegation on the growing interest among credit union members and credit unions in cryptocurrency. We believe Congress should explore ways to regulate the delivery of financial services using digital currencies to ensure consumers are protected in the same way if they received financial services a financial institution. We urge Congress to look for ways to enable credit unions and other financial institutions to provide digital assets, so that these services can be properly overseen by federal regulators. Finally, credit unions seek parity with other financial institutions in this area as credit unions must be able to offer digital/crypto products and services directly to their members in the same way that other institutions can to their customers. Lastly, credit unions are non-for-profit member-owned financial institutions. Credit unions' consumer-focused model is self-regulating and a principal reason why credit unions are not covered by the Community Reinvestment Act (CRA). MCUL will educate members of the delegation of the work credit unions are doing to serve low/moderate-income, diverse communities and the negative impacts of including credit unions in the CRA. We will oppose efforts that would result in credit unions of any size being included in the CRA.

Lapses by the retail industry/merchants in securing consumer information continue to be extremely problematic and costly to consumers and financial institutions. MCUL is advocating that Congress hold retailers to the same or similar data security standard as the financial service industry has to abide by and require that retailers notify credit unions sooner once a breach occurs. We support the introduction and passage of legislation that ensures all businesses, institutions and organizations that collect, collect, use or share personal data subject to national standards, to include language that preempts state requirements, among other things. Credit Unions are fighting a significant surge in fraud/scams that is costing American consumers billions annually. MCUL is educating lawmakers on the impact fraud is having on members and on credit unions. Credit unions are supporting three fraud related bills currently: H.R. 9331, the Strengthening Transaction Oversight and Preventing (STOP) Payments Fraud Act; S.2019/H.R. 4936, the Task Force for Recognizing and Averting Payment Scams (TRAPS) Act; and S.3774/H.R. 7548, the Safeguarding Consumers from Advertizing Misconduct (SCAM) Act. We are urging our delegation to support the legislation and call on leadership to pass the bills. MCUL supports modernizing the Federal Credit Union Act (FCUA). The financial service industry is rapidly changing. Advancements in technology, including high speed internet connectivity, have significantly changed our society and how financial institutions do business. Updating the FCUA has become necessary to ensure federally chartered credit unions have the powers and flexibility to be competitive and members can benefit from new technology. We are currently supporting the Veterans Member Business Loan Act (S.210/H.R. 507) that would exempt credit union business loans to veterans from the member business lending cap and we are supporting the Credit Union Board Modernization Act (S.522/H.R. 975) which would afford federal credit unions flexibility with regard to how often their boards meet. MCUL is monitoring developments for GSE/housing finance reform and will advocate to make sure any reforms reflect the significant role credit unions play in the secondary mortgage market and we will defend against anything that is potentially harmful to credit unions and their members. MCUL is calling on Congress to pass bank secrecy act/anti-money laundering reforms and provide financial institutions relief from unnecessary, duplicate and burdensome rules and increase the SAR and CTR thresholds. MCUL is urging lawmakers in the House to co-sponsor and support H.R. 1799, the Financial Reporting Threshold Modernization Act which would increase the CTR threshold from $10k to $30k and index it going forward for inflation. It would also increase the SAR threshold from $5k to $10k. MCUL is educating members of our congressional delegation on the growing interest among credit union members and credit unions in cryptocurrency. We believe Congress should explore ways to regulate the delivery of financial services using digital currencies to ensure consumers are protected in the same way if they received financial services a financial institution. We urge Congress to look for ways to enable credit unions and other financial institutions to provide digital assets, so that these services can be properly overseen by federal regulators. Finally, credit unions seek parity with other financial institutions in this area as credit unions must be able to offer digital/crypto products and services directly to their members in the same way that other institutions can to their customers. Lastly, credit unions are non-for-profit member-owned financial institutions. Credit unions' consumer-focused model is self-regulating and a principal reason why credit unions are not covered by the Community Reinvestment Act (CRA). MCUL will educate members of the delegation of the work credit unions are doing to serve low/moderate-income, diverse communities and the negative impacts of including credit unions in the CRA. We will oppose efforts that would result in credit unions of any size being included in the CRA.

Lapses by the retail industry/merchants in securing consumer information continue to be extremely problematic and costly to consumers and financial institutions. MCUL is advocating that Congress hold retailers to the same or similar data security standard as the financial service industry has to abide by and require that retailers notify credit unions sooner once a breach occurs. We support the introduction and passage of legislation that ensures all businesses, institutions and organizations that collect, collect, use or share personal data subject to national standards, to include language that preempts state requirements, among other things. Credit Unions are fighting a significant surge in fraud/scams that is costing American consumers billions annually. MCUL is educating lawmakers on the impact fraud is having on members and on credit unions. Credit unions are supporting three fraud related bills currently: H.R. 9331, the Strengthening Transaction Oversight and Preventing (STOP) Payments Fraud Act; S.2019/H.R. 4936, the Task Force for Recognizing and Averting Payment Scams (TRAPS) Act; and S.3774/H.R. 7548, the Safeguarding Consumers from Advertizing Misconduct (SCAM) Act. We are urging our delegation to support the legislation and call on leadership to pass the bills. MCUL supports modernizing the Federal Credit Union Act (FCUA). The financial service industry is rapidly changing. Advancements in technology, including high speed internet connectivity, have significantly changed our society and how financial institutions do business. Updating the FCUA has become necessary to ensure federally chartered credit unions have the powers and flexibility to be competitive and members can benefit from new technology. We are currently supporting the Veterans Member Business Loan Act (S.210/H.R. 507) that would exempt credit union business loans to veterans from the member business lending cap and we are supporting the Credit Union Board Modernization Act (S.522/H.R. 975) which would afford federal credit unions flexibility with regard to how often their boards meet. MCUL is monitoring developments for GSE/housing finance reform and will advocate to make sure any reforms reflect the significant role credit unions play in the secondary mortgage market and we will defend against anything that is potentially harmful to credit unions and their members. MCUL is calling on Congress to pass bank secrecy act/anti-money laundering reforms and provide financial institutions relief from unnecessary, duplicate and burdensome rules and increase the SAR and CTR thresholds. MCUL is urging lawmakers in the House to co-sponsor and support H.R. 1799, the Financial Reporting Threshold Modernization Act which would increase the CTR threshold from $10k to $30k and index it going forward for inflation. It would also increase the SAR threshold from $5k to $10k. MCUL is educating members of our congressional delegation on the growing interest among credit union members and credit unions in cryptocurrency. We believe Congress should explore ways to regulate the delivery of financial services using digital currencies to ensure consumers are protected in the same way if they received financial services a financial institution. We urge Congress to look for ways to enable credit unions and other financial institutions to provide digital assets, so that these services can be properly overseen by federal regulators. Finally, credit unions seek parity with other financial institutions in this area as credit unions must be able to offer digital/crypto products and services directly to their members in the same way that other institutions can to their customers. Lastly, credit unions are non-for-profit member-owned financial institutions. Credit unions' consumer-focused model is self-regulating and a principal reason why credit unions are not covered by the Community Reinvestment Act (CRA). MCUL will educate members of the delegation of the work credit unions are doing to serve low/moderate-income, diverse communities and the negative impacts of including credit unions in the CRA. We will oppose efforts that would result in credit unions of any size being included in the CRA.

Lapses by the retail industry/merchants in securing consumer information continue to be extremely problematic and costly to consumers and financial institutions. MCUL is advocating that Congress hold retailers to the same or similar data security standard as the financial service industry has to abide by and require that retailers notify credit unions sooner once a breach occurs. We support the introduction and passage of legislation that ensures all businesses, institutions and organizations that collect, collect, use or share personal data subject to national standards, to include language that preempts state requirements, among other things. MCUL supports modernizing the Federal Credit Union Act (FCUA). The financial service industry is rapidly changing. Advancements in technology, including high speed internet connectivity, have significantly changed our society and how financial institutions do business. Updating the FCUA has become necessary to ensure federally chartered credit unions have the powers and flexibility to be competitive and members can benefit from new technology. We are currently supporting the Veterans Member Business Loan Act (S.210/H.R. 507) that would exempt credit union business loans to veterans from the member business lending cap and we are supporting the Credit Union Board Modernization Act (S.522/H.R. 975) which would afford federal credit unions flexibility with regard to how often their boards meet. MCUL is monitoring developments for GSE/housing finance reform and will advocate to make sure any reforms reflect the significant role credit unions play in the secondary mortgage market and we will defend against anything that is potentially harmful to credit unions and their members. MCUL is calling on Congress to pass bank secrecy act/anti-money laundering reforms and provide financial institutions relief from unnecessary, duplicate and burdensome rules and increase the SAR and CTR thresholds. MCUL is urging lawmakers in the House to co-sponsor and support H.R. 1799, the Financial Reporting Threshold Modernization Act which would increase the CTR threshold from $10k to $30k and index it going forward for inflation. It would also increase the SAR threshold from $5k to $10k. MCUL is educating members of our congressional delegation on the growing interest among credit union members and credit unions in cryptocurrency. We believe Congress should explore ways to regulate the delivery of financial services using digital currencies to ensure consumers are protected in the same way if they received financial services a financial institution. We urge Congress to look for ways to enable credit unions and other financial institutions to provide digital assets, so that these services can be properly overseen by federal regulators. Finally, credit unions seek parity with other financial institutions in this area as credit unions must be able to offer digital/crypto products and services directly to their members in the same way that other institutions can to their customers. Lastly, credit unions are non-for-profit member-owned financial institutions. Credit unions' consumer-focused model is self-regulating and a principal reason why credit unions are not covered by the Community Reinvestment Act (CRA). MCUL will educate members of the delegation of the work credit unions are doing to serve low/moderate-income, diverse communities and the negative impacts of including credit unions in the CRA. We will oppose efforts that would result in credit unions of any size being included in the CRA.

Lapses by the retail industry/merchants in securing consumer information continue to be extremely problematic and costly to consumers and financial institutions. MCUL is advocating that Congress hold retailers to the same or similar data security standard as the financial service industry has to abide by and require that retailers notify credit unions sooner once a breach occurs. We support the introduction and passage of legislation that ensures all businesses, institutions and organizations that collect, collect, use or share personal data subject to national standards, to include language that preempts state requirements, among other things. MCUL supports modernizing the Federal Credit Union Act (FCUA). The financial service industry is rapidly changing. Advancements in technology, including high speed internet connectivity, have significantly changed our society and how financial institutions do business. Updating the FCUA has become necessary to ensure federally chartered credit unions have the powers and flexibility to be competitive and members can benefit from new technology. We are currently supporting the Veterans Member Business Loan Act (S.210/H.R. 507) that would exempt credit union business loans to veterans from the member business lending cap and we are supporting the Credit Union Board Modernization Act (S.522/H.R. 975) which would afford federal credit unions flexibility with regard to how often their boards meet. MCUL is monitoring developments for GSE/housing finance reform and will advocate to make sure any reforms reflect the significant role credit unions play in the secondary mortgage market and we will defend against anything that is potentially harmful to credit unions and their members. MCUL is calling on Congress to pass bank secrecy act/anti-money laundering reforms and provide financial institutions relief from unnecessary, duplicate and burdensome rules and increase the SAR and CTR thresholds. MCUL is urging lawmakers in the House to co-sponsor and support H.R. 1799, the Financial Reporting Threshold Modernization Act which would increase the CTR threshold from $10k to $30k and index it going forward for inflation. It would also increase the SAR threshold from $5k to $10k. MCUL is educating members of our congressional delegation on the growing interest among credit union members and credit unions in cryptocurrency. We believe Congress should explore ways to regulate the delivery of financial services using digital currencies to ensure consumers are protected in the same way if they received financial services a financial institution. We urge Congress to look for ways to enable credit unions and other financial institutions to provide digital assets, so that these services can be properly overseen by federal regulators. Finally, credit unions seek parity with other financial institutions in this area as credit unions must be able to offer digital/crypto products and services directly to their members in the same way that other institutions can to their customers. Lastly, credit unions are non-for-profit member-owned financial institutions. Credit unions' consumer-focused model is self-regulating and a principal reason why credit unions are not covered by the Community Reinvestment Act (CRA). MCUL will educate members of the delegation of the work credit unions are doing to serve low/moderate-income, diverse communities and the negative impacts of including credit unions in the CRA. We will oppose efforts that would result in credit unions of any size being included in the CRA.

Lapses by the retail industry/merchants in securing consumer information continue to be extremely problematic and costly to consumers and financial institutions. MCUL is advocating that Congress hold retailers to the same or similar data security standard as the financial service industry has to abide by and require that retailers notify credit unions sooner once a breach occurs. We support the introduction and passage of legislation that ensures all businesses, institutions and organizations that collect, collect, use or share personal data subject to national standards, to include language that preempts state requirements, among other things. Credit Unions are fighting a significant surge in fraud/scams that is costing American consumers billions annually. MCUL is educating lawmakers on the impact fraud is having on members and on credit unions. Credit unions are supporting three fraud related bills currently: H.R. 9331, the Strengthening Transaction Oversight and Preventing (STOP) Payments Fraud Act; S.2019/H.R. 4936, the Task Force for Recognizing and Averting Payment Scams (TRAPS) Act; and S.3774/H.R. 7548, the Safeguarding Consumers from Advertizing Misconduct (SCAM) Act. We are urging our delegation to support the legislation and call on leadership to pass the bills. MCUL supports modernizing the Federal Credit Union Act (FCUA). The financial service industry is rapidly changing. Advancements in technology, including high speed internet connectivity, have significantly changed our society and how financial institutions do business. Updating the FCUA has become necessary to ensure federally chartered credit unions have the powers and flexibility to be competitive and members can benefit from new technology. We are currently supporting the Veterans Member Business Loan Act (S.210/H.R. 507) that would exempt credit union business loans to veterans from the member business lending cap and we are supporting the Credit Union Board Modernization Act (S.522/H.R. 975) which would afford federal credit unions flexibility with regard to how often their boards meet. MCUL is monitoring developments for GSE/housing finance reform and will advocate to make sure any reforms reflect the significant role credit unions play in the secondary mortgage market and we will defend against anything that is potentially harmful to credit unions and their members. MCUL is calling on Congress to pass bank secrecy act/anti-money laundering reforms and provide financial institutions relief from unnecessary, duplicate and burdensome rules and increase the SAR and CTR thresholds. MCUL is urging lawmakers in the House to co-sponsor and support H.R. 1799, the Financial Reporting Threshold Modernization Act which would increase the CTR threshold from $10k to $30k and index it going forward for inflation. It would also increase the SAR threshold from $5k to $10k. MCUL is educating members of our congressional delegation on the growing interest among credit union members and credit unions in cryptocurrency. We believe Congress should explore ways to regulate the delivery of financial services using digital currencies to ensure consumers are protected in the same way if they received financial services a financial institution. We urge Congress to look for ways to enable credit unions and other financial institutions to provide digital assets, so that these services can be properly overseen by federal regulators. Finally, credit unions seek parity with other financial institutions in this area as credit unions must be able to offer digital/crypto products and services directly to their members in the same way that other institutions can to their customers. Lastly, credit unions are non-for-profit member-owned financial institutions. Credit unions' consumer-focused model is self-regulating and a principal reason why credit unions are not covered by the Community Reinvestment Act (CRA). MCUL will educate members of the delegation of the work credit unions are doing to serve low/moderate-income, diverse communities and the negative impacts of including credit unions in the CRA. We will oppose efforts that would result in credit unions of any size being included in the CRA.

Lapses by the retail industry/merchants in securing consumer information continue to be extremely problematic and costly to consumers and financial institutions. MCUL is advocating that Congress hold retailers to the same or similar data security standard as the financial service industry has to abide by and require that retailers notify credit unions sooner once a breach occurs. We support the introduction and passage of legislation that ensures all businesses, institutions and organizations that collect, collect, use or share personal data subject to national standards, to include language that preempts state requirements, among other things. Credit Unions are fighting a significant surge in fraud/scams that is costing American consumers billions annually. MCUL is educating lawmakers on the impact fraud is having on members and on credit unions. Credit unions are supporting three fraud related bills currently: H.R. 9331, the Strengthening Transaction Oversight and Preventing (STOP) Payments Fraud Act; S.2019/H.R. 4936, the Task Force for Recognizing and Averting Payment Scams (TRAPS) Act; and S.3774/H.R. 7548, the Safeguarding Consumers from Advertizing Misconduct (SCAM) Act. We are urging our delegation to support the legislation and call on leadership to pass the bills. MCUL supports modernizing the Federal Credit Union Act (FCUA). The financial service industry is rapidly changing. Advancements in technology, including high speed internet connectivity, have significantly changed our society and how financial institutions do business. Updating the FCUA has become necessary to ensure federally chartered credit unions have the powers and flexibility to be competitive and members can benefit from new technology. We are currently supporting the Veterans Member Business Loan Act (S.210/H.R. 507) that would exempt credit union business loans to veterans from the member business lending cap and we are supporting the Credit Union Board Modernization Act (S.522/H.R. 975) which would afford federal credit unions flexibility with regard to how often their boards meet. MCUL is monitoring developments for GSE/housing finance reform and will advocate to make sure any reforms reflect the significant role credit unions play in the secondary mortgage market and we will defend against anything that is potentially harmful to credit unions and their members. MCUL is calling on Congress to pass bank secrecy act/anti-money laundering reforms and provide financial institutions relief from unnecessary, duplicate and burdensome rules and increase the SAR and CTR thresholds. MCUL is urging lawmakers in the House to co-sponsor and support H.R. 1799, the Financial Reporting Threshold Modernization Act which would increase the CTR threshold from $10k to $30k and index it going forward for inflation. It would also increase the SAR threshold from $5k to $10k. MCUL is educating members of our congressional delegation on the growing interest among credit union members and credit unions in cryptocurrency. We believe Congress should explore ways to regulate the delivery of financial services using digital currencies to ensure consumers are protected in the same way if they received financial services a financial institution. We urge Congress to look for ways to enable credit unions and other financial institutions to provide digital assets, so that these services can be properly overseen by federal regulators. Finally, credit unions seek parity with other financial institutions in this area as credit unions must be able to offer digital/crypto products and services directly to their members in the same way that other institutions can to their customers. Lastly, credit unions are non-for-profit member-owned financial institutions. Credit unions' consumer-focused model is self-regulating and a principal reason why credit unions are not covered by the Community Reinvestment Act (CRA). MCUL will educate members of the delegation of the work credit unions are doing to serve low/moderate-income, diverse communities and the negative impacts of including credit unions in the CRA. We will oppose efforts that would result in credit unions of any size being included in the CRA.

Lapses by the retail industry/merchants in securing consumer information continue to be extremely problematic and costly to consumers and financial institutions. MCUL is advocating that Congress hold retailers to the same or similar data security standard as the financial service industry has to abide by and require that retailers notify credit unions sooner once a breach occurs. We support the introduction and passage of legislation that ensures all businesses, institutions and organizations that collect, collect, use or share personal data subject to national standards, to include language that preempts state requirements, among other things. MCUL supports modernizing the Federal Credit Union Act (FCUA). The financial service industry is rapidly changing. Advancements in technology, including high speed internet connectivity, have significantly changed our society and how financial institutions do business. Updating the FCUA has become necessary to ensure federally chartered credit unions have the powers and flexibility to be competitive and members can benefit from new technology. We are currently supporting the Veterans Member Business Loan Act (S.210/H.R. 507) that would exempt credit union business loans to veterans from the member business lending cap and we are supporting the Credit Union Board Modernization Act (S.522/H.R. 975) which would afford federal credit unions flexibility with regard to how often their boards meet. MCUL is monitoring developments for GSE/housing finance reform and will advocate to make sure any reforms reflect the significant role credit unions play in the secondary mortgage market and we will defend against anything that is potentially harmful to credit unions and their members. MCUL is calling on Congress to pass bank secrecy act/anti-money laundering reforms and provide financial institutions relief from unnecessary, duplicate and burdensome rules and increase the SAR and CTR thresholds. MCUL is urging lawmakers in the House to co-sponsor and support H.R. 1799, the Financial Reporting Threshold Modernization Act which would increase the CTR threshold from $10k to $30k and index it going forward for inflation. It would also increase the SAR threshold from $5k to $10k. MCUL is educating members of our congressional delegation on the growing interest among credit union members and credit unions in cryptocurrency. We believe Congress should explore ways to regulate the delivery of financial services using digital currencies to ensure consumers are protected in the same way if they received financial services a financial institution. We urge Congress to look for ways to enable credit unions and other financial institutions to provide digital assets, so that these services can be properly overseen by federal regulators. Finally, credit unions seek parity with other financial institutions in this area as credit unions must be able to offer digital/crypto products and services directly to their members in the same way that other institutions can to their customers. Lastly, credit unions are non-for-profit member-owned financial institutions. Credit unions' consumer-focused model is self-regulating and a principal reason why credit unions are not covered by the Community Reinvestment Act (CRA). MCUL will educate members of the delegation of the work credit unions are doing to serve low/moderate-income, diverse communities and the negative impacts of including credit unions in the CRA. We will oppose efforts that would result in credit unions of any size being included in the CRA.

Lapses by the retail industry/merchants in securing consumer information continue to be extremely problematic and costly to consumers and financial institutions. MCUL is advocating that Congress hold retailers to the same or similar data security standard as the financial service industry has to abide by and require that retailers notify credit unions sooner once a breach occurs. We support the introduction and passage of legislation that ensures all businesses, institutions and organizations that collect, collect, use or share personal data subject to national standards, to include language that preempts state requirements, among other things. MCUL supports modernizing the Federal Credit Union Act (FCUA). The financial service industry is rapidly changing. Advancements in technology, including high speed internet connectivity, have significantly changed our society and how financial institutions do business. Updating the FCUA has become necessary to ensure federally chartered credit unions have the powers and flexibility to be competitive and members can benefit from new technology. We are currently supporting the Veterans Member Business Loan Act (S.210/H.R. 507) that would exempt credit union business loans to veterans from the member business lending cap and we are supporting the Credit Union Board Modernization Act (S.522/H.R. 975) which would afford federal credit unions flexibility with regard to how often their boards meet. MCUL is monitoring developments for GSE/housing finance reform and will advocate to make sure any reforms reflect the significant role credit unions play in the secondary mortgage market and we will defend against anything that is potentially harmful to credit unions and their members. MCUL is calling on Congress to pass bank secrecy act/anti-money laundering reforms and provide financial institutions relief from unnecessary, duplicate and burdensome rules and increase the SAR and CTR thresholds. MCUL is urging lawmakers in the House to co-sponsor and support H.R. 1799, the Financial Reporting Threshold Modernization Act which would increase the CTR threshold from $10k to $30k and index it going forward for inflation. It would also increase the SAR threshold from $5k to $10k. MCUL is educating members of our congressional delegation on the growing interest among credit union members and credit unions in cryptocurrency. We believe Congress should explore ways to regulate the delivery of financial services using digital currencies to ensure consumers are protected in the same way if they received financial services a financial institution. We urge Congress to look for ways to enable credit unions and other financial institutions to provide digital assets, so that these services can be properly overseen by federal regulators. Finally, credit unions seek parity with other financial institutions in this area as credit unions must be able to offer digital/crypto products and services directly to their members in the same way that other institutions can to their customers. Lastly, credit unions are non-for-profit member-owned financial institutions. Credit unions' consumer-focused model is self-regulating and a principal reason why credit unions are not covered by the Community Reinvestment Act (CRA). MCUL will educate members of the delegation of the work credit unions are doing to serve low/moderate-income, diverse communities and the negative impacts of including credit unions in the CRA. We will oppose efforts that would result in credit unions of any size being included in the CRA.

Lapses by the retail industry/merchants in securing consumer information continue to be extremely problematic and costly to consumers and financial institutions. MCUL is advocating that Congress hold retailers to the same or similar data security standard as the financial service industry has to abide by and require that retailers notify credit unions sooner once a breach occurs. We support the introduction and passage of legislation that ensures all businesses, institutions and organizations that collect, collect, use or share personal data subject to national standards, to include language that preempts state requirements, among other things. Credit Unions are fighting a significant surge in fraud/scams that is costing American consumers billions annually. MCUL is educating lawmakers on the impact fraud is having on members and on credit unions. Credit unions are supporting three fraud related bills currently: H.R. 9331, the Strengthening Transaction Oversight and Preventing (STOP) Payments Fraud Act; S.2019/H.R. 4936, the Task Force for Recognizing and Averting Payment Scams (TRAPS) Act; and S.3774/H.R. 7548, the Safeguarding Consumers from Advertizing Misconduct (SCAM) Act. We are urging our delegation to support the legislation and call on leadership to pass the bills. MCUL supports modernizing the Federal Credit Union Act (FCUA). The financial service industry is rapidly changing. Advancements in technology, including high speed internet connectivity, have significantly changed our society and how financial institutions do business. Updating the FCUA has become necessary to ensure federally chartered credit unions have the powers and flexibility to be competitive and members can benefit from new technology. We are currently supporting the Veterans Member Business Loan Act (S.210/H.R. 507) that would exempt credit union business loans to veterans from the member business lending cap and we are supporting the Credit Union Board Modernization Act (S.522/H.R. 975) which would afford federal credit unions flexibility with regard to how often their boards meet. MCUL is monitoring developments for GSE/housing finance reform and will advocate to make sure any reforms reflect the significant role credit unions play in the secondary mortgage market and we will defend against anything that is potentially harmful to credit unions and their members. MCUL is calling on Congress to pass bank secrecy act/anti-money laundering reforms and provide financial institutions relief from unnecessary, duplicate and burdensome rules and increase the SAR and CTR thresholds. MCUL is urging lawmakers in the House to co-sponsor and support H.R. 1799, the Financial Reporting Threshold Modernization Act which would increase the CTR threshold from $10k to $30k and index it going forward for inflation. It would also increase the SAR threshold from $5k to $10k. MCUL is educating members of our congressional delegation on the growing interest among credit union members and credit unions in cryptocurrency. We believe Congress should explore ways to regulate the delivery of financial services using digital currencies to ensure consumers are protected in the same way if they received financial services a financial institution. We urge Congress to look for ways to enable credit unions and other financial institutions to provide digital assets, so that these services can be properly overseen by federal regulators. Finally, credit unions seek parity with other financial institutions in this area as credit unions must be able to offer digital/crypto products and services directly to their members in the same way that other institutions can to their customers. Lastly, credit unions are non-for-profit member-owned financial institutions. Credit unions' consumer-focused model is self-regulating and a principal reason why credit unions are not covered by the Community Reinvestment Act (CRA). MCUL will educate members of the delegation of the work credit unions are doing to serve low/moderate-income, diverse communities and the negative impacts of including credit unions in the CRA. We will oppose efforts that would result in credit unions of any size being included in the CRA.

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. 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. MCUL is opposed to the 10 Percent Credit Card Interest Rate Cap Act (H.R. 1944/S.381) and is educating members of Congress on the negative impact the legislation would have on a substantial number of Americans, especially those with poor credit.

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. 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 FY27 and call on the Administration to release fund that were previously 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. MCUL is opposed to the 10 Percent Credit Card Interest Rate Cap Act (H.R. 1944/S.381) and is educating members of Congress on the negative impact the legislation would have on a substantial number of Americans, especially those with poor credit.

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. 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. MCUL is opposed to the 10 Percent Credit Card Interest Rate Cap Act (H.R. 1944/S.381) and is educating members of Congress on the negative impact the legislation would have on a substantial number of Americans, especially those with poor credit.

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. 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. MCUL is opposed to the 10 Percent Credit Card Interest Rate Cap Act (H.R. 1944/S.381) and is educating members of Congress on the negative impact the legislation would have on a substantial number of Americans, especially those with poor credit.

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. 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. MCUL is opposed to the 10 Percent Credit Card Interest Rate Cap Act (H.R. 1944/S.381) and is educating members of Congress on the negative impact the legislation would have on a substantial number of Americans, especially those with poor credit.

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. 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 FY27 and call on the Administration to release fund that were previously 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. MCUL is opposed to the 10 Percent Credit Card Interest Rate Cap Act (H.R. 1944/S.381) and is educating members of Congress on the negative impact the legislation would have on a substantial number of Americans, especially those with poor credit.

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. 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. MCUL is opposed to the 10 Percent Credit Card Interest Rate Cap Act (H.R. 1944/S.381) and is educating members of Congress on the negative impact the legislation would have on a substantial number of Americans, especially those with poor credit.

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. 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. MCUL is opposed to the 10 Percent Credit Card Interest Rate Cap Act (H.R. 1944/S.381) and is educating members of Congress on the negative impact the legislation would have on a substantial number of Americans, especially those with poor credit.

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. 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 FY27 and call on the Administration to release fund that were previously 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. MCUL is opposed to the 10 Percent Credit Card Interest Rate Cap Act (H.R. 1944/S.381) and is educating members of Congress on the negative impact the legislation would have on a substantial number of Americans, especially those with poor credit.

Lapses by the retail industry/merchants in securing consumer information continue to be extremely problematic and costly to consumers and financial institutions. MCUL is advocating that Congress hold retailers to the same or similar data security standard as the financial service industry has to abide by and require that retailers notify credit unions sooner once a breach occurs. We support the introduction and passage of legislation that ensures all businesses, institutions and organizations that collect, collect, use or share personal data subject to national standards, to include language that preempts state requirements, among other things. MCUL supports modernizing the Federal Credit Union Act (FCUA). The financial service industry is rapidly changing. Advancements in technology, including high speed internet connectivity, have significantly changed our society and how financial institutions do business. Updating the FCUA has become necessary to ensure federally chartered credit unions have the powers and flexibility to be competitive and members can benefit from new technology. We are currently supporting the Veterans Member Business Loan Act (S.210/H.R. 507) that would exempt credit union business loans to veterans from the member business lending cap and we are supporting the Credit Union Board Modernization Act (S.522/H.R. 975) which would afford federal credit unions flexibility with regard to how often their boards meet. MCUL is monitoring developments for GSE/housing finance reform and will advocate to make sure any reforms reflect the significant role credit unions play in the secondary mortgage market and we will defend against anything that is potentially harmful to credit unions and their members. MCUL is calling on Congress to pass bank secrecy act/anti-money laundering reforms and provide financial institutions relief from unnecessary, duplicate and burdensome rules and increase the SAR and CTR thresholds. MCUL is urging lawmakers in the House to co-sponsor and support H.R. 1799, the Financial Reporting Threshold Modernization Act which would increase the CTR threshold from $10k to $30k and index it going forward for inflation. It would also increase the SAR threshold from $5k to $10k. MCUL is educating members of our congressional delegation on the growing interest among credit union members and credit unions in cryptocurrency. We believe Congress should explore ways to regulate the delivery of financial services using digital currencies to ensure consumers are protected in the same way if they received financial services a financial institution. We urge Congress to look for ways to enable credit unions and other financial institutions to provide digital assets, so that these services can be properly overseen by federal regulators. Finally, credit unions seek parity with other financial institutions in this area as credit unions must be able to offer digital/crypto products and services directly to their members in the same way that other institutions can to their customers. Lastly, credit unions are non-for-profit member-owned financial institutions. Credit unions' consumer-focused model is self-regulating and a principal reason why credit unions are not covered by the Community Reinvestment Act (CRA). MCUL will educate members of the delegation of the work credit unions are doing to serve low/moderate-income, diverse communities and the negative impacts of including credit unions in the CRA. We will oppose efforts that would result in credit unions of any size being included in the CRA.

Lapses by the retail industry/merchants in securing consumer information continue to be extremely problematic and costly to consumers and financial institutions. MCUL is advocating that Congress hold retailers to the same or similar data security standard as the financial service industry has to abide by and require that retailers notify credit unions sooner once a breach occurs. We support the introduction and passage of legislation that ensures all businesses, institutions and organizations that collect, collect, use or share personal data subject to national standards, to include language that preempts state requirements, among other things. MCUL supports modernizing the Federal Credit Union Act (FCUA). The financial service industry is rapidly changing. Advancements in technology, including high speed internet connectivity, have significantly changed our society and how financial institutions do business. Updating the FCUA has become necessary to ensure federally chartered credit unions have the powers and flexibility to be competitive and members can benefit from new technology. We are currently supporting the Veterans Member Business Loan Act (S.210/H.R. 507) that would exempt credit union business loans to veterans from the member business lending cap and we are supporting the Credit Union Board Modernization Act (S.522/H.R. 975) which would afford federal credit unions flexibility with regard to how often their boards meet. MCUL is monitoring developments for GSE/housing finance reform and will advocate to make sure any reforms reflect the significant role credit unions play in the secondary mortgage market and we will defend against anything that is potentially harmful to credit unions and their members. MCUL is calling on Congress to pass bank secrecy act/anti-money laundering reforms and provide financial institutions relief from unnecessary, duplicate and burdensome rules and increase the SAR and CTR thresholds. MCUL is urging lawmakers in the House to co-sponsor and support H.R. 1799, the Financial Reporting Threshold Modernization Act which would increase the CTR threshold from $10k to $30k and index it going forward for inflation. It would also increase the SAR threshold from $5k to $10k. MCUL is educating members of our congressional delegation on the growing interest among credit union members and credit unions in cryptocurrency. We believe Congress should explore ways to regulate the delivery of financial services using digital currencies to ensure consumers are protected in the same way if they received financial services a financial institution. We urge Congress to look for ways to enable credit unions and other financial institutions to provide digital assets, so that these services can be properly overseen by federal regulators. Finally, credit unions seek parity with other financial institutions in this area as credit unions must be able to offer digital/crypto products and services directly to their members in the same way that other institutions can to their customers. Lastly, credit unions are non-for-profit member-owned financial institutions. Credit unions' consumer-focused model is self-regulating and a principal reason why credit unions are not covered by the Community Reinvestment Act (CRA). MCUL will educate members of the delegation of the work credit unions are doing to serve low/moderate-income, diverse communities and the negative impacts of including credit unions in the CRA. We will oppose efforts that would result in credit unions of any size being included in the CRA.

Lapses by the retail industry/merchants in securing consumer information continue to be extremely problematic and costly to consumers and financial institutions. MCUL is advocating that Congress hold retailers to the same or similar data security standard as the financial service industry has to abide by and require that retailers notify credit unions sooner once a breach occurs. We support the introduction and passage of legislation that ensures all businesses, institutions and organizations that collect, collect, use or share personal data subject to national standards, to include language that preempts state requirements, among other things. MCUL supports modernizing the Federal Credit Union Act (FCUA). The financial service industry is rapidly changing. Advancements in technology, including high speed internet connectivity, have significantly changed our society and how financial institutions do business. Updating the FCUA has become necessary to ensure federally chartered credit unions have the powers and flexibility to be competitive and members can benefit from new technology. We are currently supporting the Veterans Member Business Loan Act (S.210/H.R. 507) that would exempt credit union business loans to veterans from the member business lending cap and we are supporting the Credit Union Board Modernization Act (S.522/H.R. 975) which would afford federal credit unions flexibility with regard to how often their boards meet. MCUL is monitoring developments for GSE/housing finance reform and will advocate to make sure any reforms reflect the significant role credit unions play in the secondary mortgage market and we will defend against anything that is potentially harmful to credit unions and their members. MCUL is calling on Congress to pass bank secrecy act/anti-money laundering reforms and provide financial institutions relief from unnecessary, duplicate and burdensome rules and increase the SAR and CTR thresholds. MCUL is educating members of our congressional delegation on the growing interest among credit union members and credit unions in cryptocurrency. We believe Congress should explore ways to regulate the delivery of financial services using digital currencies to ensure consumers are protected in the same way if they received financial services a financial institution. We urge Congress to look for ways to enable credit unions and other financial institutions to provide digital assets, so that these services can be properly overseen by federal regulators. Finally, credit unions seek parity with other financial institutions in this area as credit unions must be able to offer digital/crypto products and services directly to their members in the same way that other institutions can to their customers. Lastly, credit unions are non-for-profit member-owned financial institutions. Credit unions' consumer-focused model is self-regulating and a principal reason why credit unions are not covered by the Community Reinvestment Act (CRA). MCUL will educate members of the delegation of the work credit unions are doing to serve low/moderate-income, diverse communities and the negative impacts of including credit unions in the CRA. We will oppose efforts that would result in credit unions of any size being included in the CRA.

Lapses by the retail industry/merchants in securing consumer information continue to be extremely problematic and costly to consumers and financial institutions. MCUL is advocating that Congress hold retailers to the same or similar data security standard as the financial service industry has to abide by and require that retailers notify credit unions sooner once a breach occurs. We support the introduction and passage of legislation that ensures all businesses, institutions and organizations that collect, collect, use or share personal data subject to national standards, to include language that preempts state requirements, among other things. MCUL supports modernizing the Federal Credit Union Act (FCUA). The financial service industry is rapidly changing. Advancements in technology, including high speed internet connectivity, have significantly changed our society and how financial institutions do business. Updating the FCUA has become necessary to ensure federally chartered credit unions have the powers and flexibility to be competitive and members can benefit from new technology. We are currently supporting the Veterans Member Business Loan Act (S.210/H.R. 507) that would exempt credit union business loans to veterans from the member business lending cap and we are supporting the Credit Union Board Modernization Act (S.522/H.R. 975) which would afford federal credit unions flexibility with regard to how often their boards meet. MCUL is monitoring developments for GSE/housing finance reform and will advocate to make sure any reforms reflect the significant role credit unions play in the secondary mortgage market and we will defend against anything that is potentially harmful to credit unions and their members. MCUL is calling on Congress to pass bank secrecy act/anti-money laundering reforms and provide financial institutions relief from unnecessary, duplicate and burdensome rules and increase the SAR and CTR thresholds. MCUL is urging lawmakers in the House to co-sponsor and support H.R. 1799, the Financial Reporting Threshold Modernization Act which would increase the CTR threshold from $10k to $30k and index it going forward for inflation. It would also increase the SAR threshold from $5k to $10k. MCUL is educating members of our congressional delegation on the growing interest among credit union members and credit unions in cryptocurrency. We believe Congress should explore ways to regulate the delivery of financial services using digital currencies to ensure consumers are protected in the same way if they received financial services a financial institution. We urge Congress to look for ways to enable credit unions and other financial institutions to provide digital assets, so that these services can be properly overseen by federal regulators. Finally, credit unions seek parity with other financial institutions in this area as credit unions must be able to offer digital/crypto products and services directly to their members in the same way that other institutions can to their customers. Lastly, credit unions are non-for-profit member-owned financial institutions. Credit unions' consumer-focused model is self-regulating and a principal reason why credit unions are not covered by the Community Reinvestment Act (CRA). MCUL will educate members of the delegation of the work credit unions are doing to serve low/moderate-income, diverse communities and the negative impacts of including credit unions in the CRA. We will oppose efforts that would result in credit unions of any size being included in the CRA.

Lapses by the retail industry/merchants in securing consumer information continue to be extremely problematic and costly to consumers and financial institutions. MCUL is advocating that Congress hold retailers to the same or similar data security standard as the financial service industry has to abide by and require that retailers notify credit unions sooner once a breach occurs. We support the introduction and passage of legislation that ensures all businesses, institutions and organizations that collect, collect, use or share personal data subject to national standards, to include language that preempts state requirements, among other things. MCUL supports modernizing the Federal Credit Union Act (FCUA). The financial service industry is rapidly changing. Advancements in technology, including high speed internet connectivity, have significantly changed our society and how financial institutions do business. Updating the FCUA has become necessary to ensure federally chartered credit unions have the powers and flexibility to be competitive and members can benefit from new technology. We are currently supporting the Veterans Member Business Loan Act (S.210/H.R. 507) that would exempt credit union business loans to veterans from the member business lending cap and we are supporting the Credit Union Board Modernization Act (S.522/H.R. 975) which would afford federal credit unions flexibility with regard to how often their boards meet. MCUL is monitoring developments for GSE/housing finance reform and will advocate to make sure any reforms reflect the significant role credit unions play in the secondary mortgage market and we will defend against anything that is potentially harmful to credit unions and their members. MCUL is calling on Congress to pass bank secrecy act/anti-money laundering reforms and provide financial institutions relief from unnecessary, duplicate and burdensome rules and increase the SAR and CTR thresholds. MCUL is urging lawmakers in the House to co-sponsor and support H.R. 1799, the Financial Reporting Threshold Modernization Act which would increase the CTR threshold from $10k to $30k and index it going forward for inflation. It would also increase the SAR threshold from $5k to $10k. MCUL is educating members of our congressional delegation on the growing interest among credit union members and credit unions in cryptocurrency. We believe Congress should explore ways to regulate the delivery of financial services using digital currencies to ensure consumers are protected in the same way if they received financial services a financial institution. We urge Congress to look for ways to enable credit unions and other financial institutions to provide digital assets, so that these services can be properly overseen by federal regulators. Finally, credit unions seek parity with other financial institutions in this area as credit unions must be able to offer digital/crypto products and services directly to their members in the same way that other institutions can to their customers. Lastly, credit unions are non-for-profit member-owned financial institutions. Credit unions' consumer-focused model is self-regulating and a principal reason why credit unions are not covered by the Community Reinvestment Act (CRA). MCUL will educate members of the delegation of the work credit unions are doing to serve low/moderate-income, diverse communities and the negative impacts of including credit unions in the CRA. We will oppose efforts that would result in credit unions of any size being included in the CRA.

Lapses by the retail industry/merchants in securing consumer information continue to be extremely problematic and costly to consumers and financial institutions. MCUL is advocating that Congress hold retailers to the same or similar data security standard as the financial service industry has to abide by and require that retailers notify credit unions sooner once a breach occurs. We support the introduction and passage of legislation that ensures all businesses, institutions and organizations that collect, collect, use or share personal data subject to national standards, to include language that preempts state requirements, among other things. MCUL supports modernizing the Federal Credit Union Act (FCUA). The financial service industry is rapidly changing. Advancements in technology, including high speed internet connectivity, have significantly changed our society and how financial institutions do business. Updating the FCUA has become necessary to ensure federally chartered credit unions have the powers and flexibility to be competitive and members can benefit from new technology. We are currently supporting the Veterans Member Business Loan Act (S.210/H.R. 507) that would exempt credit union business loans to veterans from the member business lending cap and we are supporting the Credit Union Board Modernization Act (S.522/H.R. 975) which would afford federal credit unions flexibility with regard to how often their boards meet. MCUL is monitoring developments for GSE/housing finance reform and will advocate to make sure any reforms reflect the significant role credit unions play in the secondary mortgage market and we will defend against anything that is potentially harmful to credit unions and their members. MCUL is calling on Congress to pass bank secrecy act/anti-money laundering reforms and provide financial institutions relief from unnecessary, duplicate and burdensome rules and increase the SAR and CTR thresholds. MCUL is educating members of our congressional delegation on the growing interest among credit union members and credit unions in cryptocurrency. We believe Congress should explore ways to regulate the delivery of financial services using digital currencies to ensure consumers are protected in the same way if they received financial services a financial institution. We urge Congress to look for ways to enable credit unions and other financial institutions to provide digital assets, so that these services can be properly overseen by federal regulators. Finally, credit unions seek parity with other financial institutions in this area as credit unions must be able to offer digital/crypto products and services directly to their members in the same way that other institutions can to their customers. Lastly, credit unions are non-for-profit member-owned financial institutions. Credit unions' consumer-focused model is self-regulating and a principal reason why credit unions are not covered by the Community Reinvestment Act (CRA). MCUL will educate members of the delegation of the work credit unions are doing to serve low/moderate-income, diverse communities and the negative impacts of including credit unions in the CRA. We will oppose efforts that would result in credit unions of any size being included in the CRA.

Lapses by the retail industry/merchants in securing consumer information continue to be extremely problematic and costly to consumers and financial institutions. MCUL is advocating that Congress hold retailers to the same or similar data security standard as the financial service industry has to abide by and require that retailers notify credit unions sooner once a breach occurs. We support the introduction and passage of legislation that ensures all businesses, institutions and organizations that collect, collect, use or share personal data subject to national standards, to include language that preempts state requirements, among other things. MCUL supports modernizing the Federal Credit Union Act (FCUA). The financial service industry is rapidly changing. Advancements in technology, including high speed internet connectivity, have significantly changed our society and how financial institutions do business. Updating the FCUA has become necessary to ensure federally chartered credit unions have the powers and flexibility to be competitive and members can benefit from new technology. We are currently supporting the Veterans Member Business Loan Act (S.210/H.R. 507) that would exempt credit union business loans to veterans from the member business lending cap and we are supporting the Credit Union Board Modernization Act (S.522/H.R. 975) which would afford federal credit unions flexibility with regard to how often their boards meet. MCUL is monitoring developments for GSE/housing finance reform and will advocate to make sure any reforms reflect the significant role credit unions play in the secondary mortgage market and we will defend against anything that is potentially harmful to credit unions and their members. MCUL is calling on Congress to pass bank secrecy act/anti-money laundering reforms and provide financial institutions relief from unnecessary, duplicate and burdensome rules and increase the SAR and CTR thresholds. MCUL is educating members of our congressional delegation on the growing interest among credit union members and credit unions in cryptocurrency. We believe Congress should explore ways to regulate the delivery of financial services using digital currencies to ensure consumers are protected in the same way if they received financial services a financial institution. We urge Congress to look for ways to enable credit unions and other financial institutions to provide digital assets, so that these services can be properly overseen by federal regulators. Finally, credit unions seek parity with other financial institutions in this area as credit unions must be able to offer digital/crypto products and services directly to their members in the same way that other institutions can to their customers. Lastly, credit unions are non-for-profit member-owned financial institutions. Credit unions' consumer-focused model is self-regulating and a principal reason why credit unions are not covered by the Community Reinvestment Act (CRA). MCUL will educate members of the delegation of the work credit unions are doing to serve low/moderate-income, diverse communities and the negative impacts of including credit unions in the CRA. We will oppose efforts that would result in credit unions of any size being included in the CRA.

Lapses by the retail industry/merchants in securing consumer information continue to be extremely problematic and costly to consumers and financial institutions. MCUL is advocating that Congress hold retailers to the same or similar data security standard as the financial service industry has to abide by and require that retailers notify credit unions sooner once a breach occurs. We support the introduction and passage of legislation that ensures all businesses, institutions and organizations that collect, collect, use or share personal data subject to national standards, to include language that preempts state requirements, among other things. MCUL supports modernizing the Federal Credit Union Act (FCUA). The financial service industry is rapidly changing. Advancements in technology, including high speed internet connectivity, have significantly changed our society and how financial institutions do business. Updating the FCUA has become necessary to ensure federally chartered credit unions have the powers and flexibility to be competitive and members can benefit from new technology. We are currently supporting the Veterans Member Business Loan Act (S.210/H.R. 507) that would exempt credit union business loans to veterans from the member business lending cap and we are supporting the Credit Union Board Modernization Act (S.522/H.R. 975) which would afford federal credit unions flexibility with regard to how often their boards meet. MCUL is monitoring developments for GSE/housing finance reform and will advocate to make sure any reforms reflect the significant role credit unions play in the secondary mortgage market and we will defend against anything that is potentially harmful to credit unions and their members. MCUL is calling on Congress to pass bank secrecy act/anti-money laundering reforms and provide financial institutions relief from unnecessary, duplicate and burdensome rules and increase the SAR and CTR thresholds. MCUL is urging lawmakers in the House to co-sponsor and support H.R. 1799, the Financial Reporting Threshold Modernization Act which would increase the CTR threshold from $10k to $30k and index it going forward for inflation. It would also increase the SAR threshold from $5k to $10k. MCUL is educating members of our congressional delegation on the growing interest among credit union members and credit unions in cryptocurrency. We believe Congress should explore ways to regulate the delivery of financial services using digital currencies to ensure consumers are protected in the same way if they received financial services a financial institution. We urge Congress to look for ways to enable credit unions and other financial institutions to provide digital assets, so that these services can be properly overseen by federal regulators. Finally, credit unions seek parity with other financial institutions in this area as credit unions must be able to offer digital/crypto products and services directly to their members in the same way that other institutions can to their customers. Lastly, credit unions are non-for-profit member-owned financial institutions. Credit unions' consumer-focused model is self-regulating and a principal reason why credit unions are not covered by the Community Reinvestment Act (CRA). MCUL will educate members of the delegation of the work credit unions are doing to serve low/moderate-income, diverse communities and the negative impacts of including credit unions in the CRA. We will oppose efforts that would result in credit unions of any size being included in the CRA.

Lapses by the retail industry/merchants in securing consumer information continue to be extremely problematic and costly to consumers and financial institutions. MCUL is advocating that Congress hold retailers to the same or similar data security standard as the financial service industry has to abide by and require that retailers notify credit unions sooner once a breach occurs. We support the introduction and passage of legislation that ensures all businesses, institutions and organizations that collect, collect, use or share personal data subject to national standards, to include language that preempts state requirements, among other things. MCUL supports modernizing the Federal Credit Union Act (FCUA). The financial service industry is rapidly changing. Advancements in technology, including high speed internet connectivity, have significantly changed our society and how financial institutions do business. Updating the FCUA has become necessary to ensure federally chartered credit unions have the powers and flexibility to be competitive and members can benefit from new technology. We are currently supporting the Veterans Member Business Loan Act (S.210/H.R. 507) that would exempt credit union business loans to veterans from the member business lending cap and we are supporting the Credit Union Board Modernization Act (S.522/H.R. 975) which would afford federal credit unions flexibility with regard to how often their boards meet. MCUL is monitoring developments for GSE/housing finance reform and will advocate to make sure any reforms reflect the significant role credit unions play in the secondary mortgage market and we will defend against anything that is potentially harmful to credit unions and their members. MCUL is calling on Congress to pass bank secrecy act/anti-money laundering reforms and provide financial institutions relief from unnecessary, duplicate and burdensome rules and increase the SAR and CTR thresholds. MCUL is educating members of our congressional delegation on the growing interest among credit union members and credit unions in cryptocurrency. We believe Congress should explore ways to regulate the delivery of financial services using digital currencies to ensure consumers are protected in the same way if they received financial services a financial institution. We urge Congress to look for ways to enable credit unions and other financial institutions to provide digital assets, so that these services can be properly overseen by federal regulators. Finally, credit unions seek parity with other financial institutions in this area as credit unions must be able to offer digital/crypto products and services directly to their members in the same way that other institutions can to their customers. Lastly, credit unions are non-for-profit member-owned financial institutions. Credit unions' consumer-focused model is self-regulating and a principal reason why credit unions are not covered by the Community Reinvestment Act (CRA). MCUL will educate members of the delegation of the work credit unions are doing to serve low/moderate-income, diverse communities and the negative impacts of including credit unions in the CRA. We will oppose efforts that would result in credit unions of any size being included in the CRA.

Lapses by the retail industry/merchants in securing consumer information continue to be extremely problematic and costly to consumers and financial institutions. MCUL is advocating that Congress hold retailers to the same or similar data security standard as the financial service industry has to abide by and require that retailers notify credit unions sooner once a breach occurs. We support the introduction and passage of legislation that ensures all businesses, institutions and organizations that collect, collect, use or share personal data subject to national standards, to include language that preempts state requirements, among other things. MCUL supports modernizing the Federal Credit Union Act (FCUA). The financial service industry is rapidly changing. Advancements in technology, including high speed internet connectivity, have significantly changed our society and how financial institutions do business. Updating the FCUA has become necessary to ensure federally chartered credit unions have the powers and flexibility to be competitive and members can benefit from new technology. We are currently supporting the Veterans Member Business Loan Act (S.210/H.R. 507) that would exempt credit union business loans to veterans from the member business lending cap and we are supporting the Credit Union Board Modernization Act (S.522/H.R. 975) which would afford federal credit unions flexibility with regard to how often their boards meet. MCUL is monitoring developments for GSE/housing finance reform and will advocate to make sure any reforms reflect the significant role credit unions play in the secondary mortgage market and we will defend against anything that is potentially harmful to credit unions and their members. MCUL is calling on Congress to pass bank secrecy act/anti-money laundering reforms and provide financial institutions relief from unnecessary, duplicate and burdensome rules and increase the SAR and CTR thresholds. MCUL is urging lawmakers in the House to co-sponsor and support H.R. 1799, the Financial Reporting Threshold Modernization Act which would increase the CTR threshold from $10k to $30k and index it going forward for inflation. It would also increase the SAR threshold from $5k to $10k. MCUL is educating members of our congressional delegation on the growing interest among credit union members and credit unions in cryptocurrency. We believe Congress should explore ways to regulate the delivery of financial services using digital currencies to ensure consumers are protected in the same way if they received financial services a financial institution. We urge Congress to look for ways to enable credit unions and other financial institutions to provide digital assets, so that these services can be properly overseen by federal regulators. Finally, credit unions seek parity with other financial institutions in this area as credit unions must be able to offer digital/crypto products and services directly to their members in the same way that other institutions can to their customers. Lastly, credit unions are non-for-profit member-owned financial institutions. Credit unions' consumer-focused model is self-regulating and a principal reason why credit unions are not covered by the Community Reinvestment Act (CRA). MCUL will educate members of the delegation of the work credit unions are doing to serve low/moderate-income, diverse communities and the negative impacts of including credit unions in the CRA. We will oppose efforts that would result in credit unions of any size being included in the CRA.

Lapses by the retail industry/merchants in securing consumer information continue to be extremely problematic and costly to consumers and financial institutions. MCUL is advocating that Congress hold retailers to the same or similar data security standard as the financial service industry has to abide by and require that retailers notify credit unions sooner once a breach occurs. We support the introduction and passage of legislation that ensures all businesses, institutions and organizations that collect, collect, use or share personal data subject to national standards, to include language that preempts state requirements, among other things. MCUL supports modernizing the Federal Credit Union Act (FCUA). The financial service industry is rapidly changing. Advancements in technology, including high speed internet connectivity, have significantly changed our society and how financial institutions do business. Updating the FCUA has become necessary to ensure federally chartered credit unions have the powers and flexibility to be competitive and members can benefit from new technology. We are currently supporting the Veterans Member Business Loan Act (S.210/H.R. 507) that would exempt credit union business loans to veterans from the member business lending cap and we are supporting the Credit Union Board Modernization Act (S.522/H.R. 975) which would afford federal credit unions flexibility with regard to how often their boards meet. MCUL is monitoring developments for GSE/housing finance reform and will advocate to make sure any reforms reflect the significant role credit unions play in the secondary mortgage market and we will defend against anything that is potentially harmful to credit unions and their members. MCUL is calling on Congress to pass bank secrecy act/anti-money laundering reforms and provide financial institutions relief from unnecessary, duplicate and burdensome rules and increase the SAR and CTR thresholds. MCUL is urging lawmakers in the House to co-sponsor and support H.R. 1799, the Financial Reporting Threshold Modernization Act which would increase the CTR threshold from $10k to $30k and index it going forward for inflation. It would also increase the SAR threshold from $5k to $10k. MCUL is educating members of our congressional delegation on the growing interest among credit union members and credit unions in cryptocurrency. We believe Congress should explore ways to regulate the delivery of financial services using digital currencies to ensure consumers are protected in the same way if they received financial services a financial institution. We urge Congress to look for ways to enable credit unions and other financial institutions to provide digital assets, so that these services can be properly overseen by federal regulators. Finally, credit unions seek parity with other financial institutions in this area as credit unions must be able to offer digital/crypto products and services directly to their members in the same way that other institutions can to their customers. Lastly, credit unions are non-for-profit member-owned financial institutions. Credit unions' consumer-focused model is self-regulating and a principal reason why credit unions are not covered by the Community Reinvestment Act (CRA). MCUL will educate members of the delegation of the work credit unions are doing to serve low/moderate-income, diverse communities and the negative impacts of including credit unions in the CRA. We will oppose efforts that would result in credit unions of any size being included in the CRA.

Lapses by the retail industry/merchants in securing consumer information continue to be extremely problematic and costly to consumers and financial institutions. MCUL is advocating that Congress hold retailers to the same or similar data security standard as the financial service industry has to abide by and require that retailers notify credit unions sooner once a breach occurs. We support the introduction and passage of legislation that ensures all businesses, institutions and organizations that collect, collect, use or share personal data subject to national standards, to include language that preempts state requirements, among other things. MCUL supports modernizing the Federal Credit Union Act (FCUA). The financial service industry is rapidly changing. Advancements in technology, including high speed internet connectivity, have significantly changed our society and how financial institutions do business. Updating the FCUA has become necessary to ensure federally chartered credit unions have the powers and flexibility to be competitive and members can benefit from new technology. We are currently supporting the Veterans Member Business Loan Act (S.210/H.R. 507) that would exempt credit union business loans to veterans from the member business lending cap and we are supporting the Credit Union Board Modernization Act (S.522/H.R. 975) which would afford federal credit unions flexibility with regard to how often their boards meet. MCUL is monitoring developments for GSE/housing finance reform and will advocate to make sure any reforms reflect the significant role credit unions play in the secondary mortgage market and we will defend against anything that is potentially harmful to credit unions and their members. MCUL is calling on Congress to pass bank secrecy act/anti-money laundering reforms and provide financial institutions relief from unnecessary, duplicate and burdensome rules and increase the SAR and CTR thresholds. MCUL is educating members of our congressional delegation on the growing interest among credit union members and credit unions in cryptocurrency. We believe Congress should explore ways to regulate the delivery of financial services using digital currencies to ensure consumers are protected in the same way if they received financial services a financial institution. We urge Congress to look for ways to enable credit unions and other financial institutions to provide digital assets, so that these services can be properly overseen by federal regulators. Finally, credit unions seek parity with other financial institutions in this area as credit unions must be able to offer digital/crypto products and services directly to their members in the same way that other institutions can to their customers. Lastly, credit unions are non-for-profit member-owned financial institutions. Credit unions' consumer-focused model is self-regulating and a principal reason why credit unions are not covered by the Community Reinvestment Act (CRA). MCUL will educate members of the delegation of the work credit unions are doing to serve low/moderate-income, diverse communities and the negative impacts of including credit unions in the CRA. We will oppose efforts that would result in credit unions of any size being included in the CRA.

Lapses by the retail industry/merchants in securing consumer information continue to be extremely problematic and costly to consumers and financial institutions. MCUL is advocating that Congress hold retailers to the same or similar data security standard as the financial service industry has to abide by and require that retailers notify credit unions sooner once a breach occurs. We support the introduction and passage of legislation that ensures all businesses, institutions and organizations that collect, collect, use or share personal data subject to national standards, to include language that preempts state requirements, among other things. MCUL supports modernizing the Federal Credit Union Act (FCUA). The financial service industry is rapidly changing. Advancements in technology, including high speed internet connectivity, have significantly changed our society and how financial institutions do business. Updating the FCUA has become necessary to ensure federally chartered credit unions have the powers and flexibility to be competitive and members can benefit from new technology. We are currently supporting the Veterans Member Business Loan Act (S.210/H.R. 507) that would exempt credit union business loans to veterans from the member business lending cap and we are supporting the Credit Union Board Modernization Act (S.522/H.R. 975) which would afford federal credit unions flexibility with regard to how often their boards meet. MCUL is monitoring developments for GSE/housing finance reform and will advocate to make sure any reforms reflect the significant role credit unions play in the secondary mortgage market and we will defend against anything that is potentially harmful to credit unions and their members. MCUL is calling on Congress to pass bank secrecy act/anti-money laundering reforms and provide financial institutions relief from unnecessary, duplicate and burdensome rules and increase the SAR and CTR thresholds. MCUL is educating members of our congressional delegation on the growing interest among credit union members and credit unions in cryptocurrency. We believe Congress should explore ways to regulate the delivery of financial services using digital currencies to ensure consumers are protected in the same way if they received financial services a financial institution. We urge Congress to look for ways to enable credit unions and other financial institutions to provide digital assets, so that these services can be properly overseen by federal regulators. Finally, credit unions seek parity with other financial institutions in this area as credit unions must be able to offer digital/crypto products and services directly to their members in the same way that other institutions can to their customers. Lastly, credit unions are non-for-profit member-owned financial institutions. Credit unions' consumer-focused model is self-regulating and a principal reason why credit unions are not covered by the Community Reinvestment Act (CRA). MCUL will educate members of the delegation of the work credit unions are doing to serve low/moderate-income, diverse communities and the negative impacts of including credit unions in the CRA. We will oppose efforts that would result in credit unions of any size being included in the CRA.

Lapses by the retail industry/merchants in securing consumer information continue to be extremely problematic and costly to consumers and financial institutions. MCUL is advocating that Congress hold retailers to the same or similar data security standard as the financial service industry has to abide by and require that retailers notify credit unions sooner once a breach occurs. We support the introduction and passage of legislation that ensures all businesses, institutions and organizations that collect, collect, use or share personal data subject to national standards, to include language that preempts state requirements, among other things. MCUL supports modernizing the Federal Credit Union Act (FCUA). The financial service industry is rapidly changing. Advancements in technology, including high speed internet connectivity, have significantly changed our society and how financial institutions do business. Updating the FCUA has become necessary to ensure federally chartered credit unions have the powers and flexibility to be competitive and members can benefit from new technology. We are currently supporting the Veterans Member Business Loan Act (S.210/H.R. 507) that would exempt credit union business loans to veterans from the member business lending cap and we are supporting the Credit Union Board Modernization Act (S.522/H.R. 975) which would afford federal credit unions flexibility with regard to how often their boards meet. MCUL is monitoring developments for GSE/housing finance reform and will advocate to make sure any reforms reflect the significant role credit unions play in the secondary mortgage market and we will defend against anything that is potentially harmful to credit unions and their members. MCUL is calling on Congress to pass bank secrecy act/anti-money laundering reforms and provide financial institutions relief from unnecessary, duplicate and burdensome rules and increase the SAR and CTR thresholds. MCUL is urging lawmakers in the House to co-sponsor and support H.R. 1799, the Financial Reporting Threshold Modernization Act which would increase the CTR threshold from $10k to $30k and index it going forward for inflation. It would also increase the SAR threshold from $5k to $10k. MCUL is educating members of our congressional delegation on the growing interest among credit union members and credit unions in cryptocurrency. We believe Congress should explore ways to regulate the delivery of financial services using digital currencies to ensure consumers are protected in the same way if they received financial services a financial institution. We urge Congress to look for ways to enable credit unions and other financial institutions to provide digital assets, so that these services can be properly overseen by federal regulators. Finally, credit unions seek parity with other financial institutions in this area as credit unions must be able to offer digital/crypto products and services directly to their members in the same way that other institutions can to their customers. Lastly, credit unions are non-for-profit member-owned financial institutions. Credit unions' consumer-focused model is self-regulating and a principal reason why credit unions are not covered by the Community Reinvestment Act (CRA). MCUL will educate members of the delegation of the work credit unions are doing to serve low/moderate-income, diverse communities and the negative impacts of including credit unions in the CRA. We will oppose efforts that would result in credit unions of any size being included in the CRA.

Lapses by the retail industry/merchants in securing consumer information continue to be extremely problematic and costly to consumers and financial institutions. MCUL is advocating that Congress hold retailers to the same or similar data security standard as the financial service industry has to abide by and require that retailers notify credit unions sooner once a breach occurs. We support the introduction and passage of legislation that ensures all businesses, institutions and organizations that collect, collect, use or share personal data subject to national standards, to include language that preempts state requirements, among other things. MCUL supports modernizing the Federal Credit Union Act (FCUA). The financial service industry is rapidly changing. Advancements in technology, including high speed internet connectivity, have significantly changed our society and how financial institutions do business. Updating the FCUA has become necessary to ensure federally chartered credit unions have the powers and flexibility to be competitive and members can benefit from new technology. We are currently supporting the Veterans Member Business Loan Act (S.210/H.R. 507) that would exempt credit union business loans to veterans from the member business lending cap and we are supporting the Credit Union Board Modernization Act (S.522/H.R. 975) which would afford federal credit unions flexibility with regard to how often their boards meet. MCUL is monitoring developments for GSE/housing finance reform and will advocate to make sure any reforms reflect the significant role credit unions play in the secondary mortgage market and we will defend against anything that is potentially harmful to credit unions and their members. MCUL is calling on Congress to pass bank secrecy act/anti-money laundering reforms and provide financial institutions relief from unnecessary, duplicate and burdensome rules and increase the SAR and CTR thresholds. MCUL is educating members of our congressional delegation on the growing interest among credit union members and credit unions in cryptocurrency. We believe Congress should explore ways to regulate the delivery of financial services using digital currencies to ensure consumers are protected in the same way if they received financial services a financial institution. We urge Congress to look for ways to enable credit unions and other financial institutions to provide digital assets, so that these services can be properly overseen by federal regulators. Finally, credit unions seek parity with other financial institutions in this area as credit unions must be able to offer digital/crypto products and services directly to their members in the same way that other institutions can to their customers. Lastly, credit unions are non-for-profit member-owned financial institutions. Credit unions' consumer-focused model is self-regulating and a principal reason why credit unions are not covered by the Community Reinvestment Act (CRA). MCUL will educate members of the delegation of the work credit unions are doing to serve low/moderate-income, diverse communities and the negative impacts of including credit unions in the CRA. We will oppose efforts that would result in credit unions of any size being included in the CRA.

Lapses by the retail industry/merchants in securing consumer information continue to be extremely problematic and costly to consumers and financial institutions. MCUL is advocating that Congress hold retailers to the same or similar data security standard as the financial service industry has to abide by and require that retailers notify credit unions sooner once a breach occurs. We support the introduction and passage of legislation that ensures all businesses, institutions and organizations that collect, collect, use or share personal data subject to national standards, to include language that preempts state requirements, among other things. MCUL supports modernizing the Federal Credit Union Act (FCUA). The financial service industry is rapidly changing. Advancements in technology, including high speed internet connectivity, have significantly changed our society and how financial institutions do business. Updating the FCUA has become necessary to ensure federally chartered credit unions have the powers and flexibility to be competitive and members can benefit from new technology. We are currently supporting the Veterans Member Business Loan Act (S.210/H.R. 507) that would exempt credit union business loans to veterans from the member business lending cap and we are supporting the Credit Union Board Modernization Act (S.522/H.R. 975) which would afford federal credit unions flexibility with regard to how often their boards meet. MCUL is monitoring developments for GSE/housing finance reform and will advocate to make sure any reforms reflect the significant role credit unions play in the secondary mortgage market and we will defend against anything that is potentially harmful to credit unions and their members. MCUL is calling on Congress to pass bank secrecy act/anti-money laundering reforms and provide financial institutions relief from unnecessary, duplicate and burdensome rules and increase the SAR and CTR thresholds. MCUL is urging lawmakers in the House to co-sponsor and support H.R. 1799, the Financial Reporting Threshold Modernization Act which would increase the CTR threshold from $10k to $30k and index it going forward for inflation. It would also increase the SAR threshold from $5k to $10k. MCUL is educating members of our congressional delegation on the growing interest among credit union members and credit unions in cryptocurrency. We believe Congress should explore ways to regulate the delivery of financial services using digital currencies to ensure consumers are protected in the same way if they received financial services a financial institution. We urge Congress to look for ways to enable credit unions and other financial institutions to provide digital assets, so that these services can be properly overseen by federal regulators. Finally, credit unions seek parity with other financial institutions in this area as credit unions must be able to offer digital/crypto products and services directly to their members in the same way that other institutions can to their customers. Lastly, credit unions are non-for-profit member-owned financial institutions. Credit unions' consumer-focused model is self-regulating and a principal reason why credit unions are not covered by the Community Reinvestment Act (CRA). MCUL will educate members of the delegation of the work credit unions are doing to serve low/moderate-income, diverse communities and the negative impacts of including credit unions in the CRA. We will oppose efforts that would result in credit unions of any size being included in the CRA.

Lapses by the retail industry/merchants in securing consumer information continue to be extremely problematic and costly to consumers and financial institutions. MCUL is advocating that Congress hold retailers to the same or similar data security standard as the financial service industry has to abide by and require that retailers notify credit unions sooner once a breach occurs. We support the introduction and passage of legislation that ensures all businesses, institutions and organizations that collect, collect, use or share personal data subject to national standards, to include language that preempts state requirements, among other things. MCUL supports modernizing the Federal Credit Union Act (FCUA). The financial service industry is rapidly changing. Advancements in technology, including high speed internet connectivity, have significantly changed our society and how financial institutions do business. Updating the FCUA has become necessary to ensure federally chartered credit unions have the powers and flexibility to be competitive and members can benefit from new technology. We are currently supporting the Veterans Member Business Loan Act (S.210/H.R. 507) that would exempt credit union business loans to veterans from the member business lending cap and we are supporting the Credit Union Board Modernization Act (S.522/H.R. 975) which would afford federal credit unions flexibility with regard to how often their boards meet. MCUL is monitoring developments for GSE/housing finance reform and will advocate to make sure any reforms reflect the significant role credit unions play in the secondary mortgage market and we will defend against anything that is potentially harmful to credit unions and their members. MCUL is calling on Congress to pass bank secrecy act/anti-money laundering reforms and provide financial institutions relief from unnecessary, duplicate and burdensome rules and increase the SAR and CTR thresholds. MCUL is urging lawmakers in the House to co-sponsor and support H.R. 1799, the Financial Reporting Threshold Modernization Act which would increase the CTR threshold from $10k to $30k and index it going forward for inflation. It would also increase the SAR threshold from $5k to $10k. MCUL is educating members of our congressional delegation on the growing interest among credit union members and credit unions in cryptocurrency. We believe Congress should explore ways to regulate the delivery of financial services using digital currencies to ensure consumers are protected in the same way if they received financial services a financial institution. We urge Congress to look for ways to enable credit unions and other financial institutions to provide digital assets, so that these services can be properly overseen by federal regulators. Finally, credit unions seek parity with other financial institutions in this area as credit unions must be able to offer digital/crypto products and services directly to their members in the same way that other institutions can to their customers. Lastly, credit unions are non-for-profit member-owned financial institutions. Credit unions' consumer-focused model is self-regulating and a principal reason why credit unions are not covered by the Community Reinvestment Act (CRA). MCUL will educate members of the delegation of the work credit unions are doing to serve low/moderate-income, diverse communities and the negative impacts of including credit unions in the CRA. We will oppose efforts that would result in credit unions of any size being included in the CRA.

Lapses by the retail industry/merchants in securing consumer information continue to be extremely problematic and costly to consumers and financial institutions. MCUL is advocating that Congress hold retailers to the same or similar data security standard as the financial service industry has to abide by and require that retailers notify credit unions sooner once a breach occurs. We support the introduction and passage of legislation that ensures all businesses, institutions and organizations that collect, collect, use or share personal data subject to national standards, to include language that preempts state requirements, among other things. MCUL supports modernizing the Federal Credit Union Act (FCUA). The financial service industry is rapidly changing. Advancements in technology, including high speed internet connectivity, have significantly changed our society and how financial institutions do business. Updating the FCUA has become necessary to ensure federally chartered credit unions have the powers and flexibility to be competitive and members can benefit from new technology. We are currently supporting the Veterans Member Business Loan Act (S.210/H.R. 507) that would exempt credit union business loans to veterans from the member business lending cap and we are supporting the Credit Union Board Modernization Act (S.522/H.R. 975) which would afford federal credit unions flexibility with regard to how often their boards meet. MCUL is monitoring developments for GSE/housing finance reform and will advocate to make sure any reforms reflect the significant role credit unions play in the secondary mortgage market and we will defend against anything that is potentially harmful to credit unions and their members. MCUL is calling on Congress to pass bank secrecy act/anti-money laundering reforms and provide financial institutions relief from unnecessary, duplicate and burdensome rules and increase the SAR and CTR thresholds. MCUL is educating members of our congressional delegation on the growing interest among credit union members and credit unions in cryptocurrency. We believe Congress should explore ways to regulate the delivery of financial services using digital currencies to ensure consumers are protected in the same way if they received financial services a financial institution. We urge Congress to look for ways to enable credit unions and other financial institutions to provide digital assets, so that these services can be properly overseen by federal regulators. Finally, credit unions seek parity with other financial institutions in this area as credit unions must be able to offer digital/crypto products and services directly to their members in the same way that other institutions can to their customers. Lastly, credit unions are non-for-profit member-owned financial institutions. Credit unions' consumer-focused model is self-regulating and a principal reason why credit unions are not covered by the Community Reinvestment Act (CRA). MCUL will educate members of the delegation of the work credit unions are doing to serve low/moderate-income, diverse communities and the negative impacts of including credit unions in the CRA. We will oppose efforts that would result in credit unions of any size being included in the CRA.

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.

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. 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.

While MCUL takes no position on the issue of cannabis legalization, it supports the SAFE Banking Act, H.R. 2891/S.1323 and newly introduced legislation, the SAFER Banking Act, S.2860, that would provide a safe harbor for financial institutions to serve their members needs in states where cannabis use has become legal. We are urging our congressional delegation to support S. 2860 and work with leadership to pass it. 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 S.1838/H.R. 3881, the Credit Card Competition Act of 2023 and help us ensure the bill does not pass. 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 services to our members. MCUL supports and is calling for passage of H.R. 1059/S.1212, the SECURE Notarization Act that would establish minimum standards for electronic and remote notarization. The bill passed the U.S. House on 2/27/23 and we are urging the U.S. Senate to take it up and pass the bill. We are also educating our delegation on the importance of updating the 20 year old E-sign Act to better reflect how customers can signal their acceptance of electronic transactions. MCUL is monitoring actions by Congress related to recent failures of banks and communicating with Michigan congressional offices that credit unions are structured different from other financial institutions are not part of these failures, credit unions were not part of the banking problems that led to Dodd-Frank in 2010 and therefore any legislation from Congress that seeks to address the problems at the banks should not place added burdens on credit unions. MCUL is urging members of the delegation to co-sponsor S. 544, to provide a 3-year extension of CARES Act provisions related to the Central Liquidity Facility (CLF).

While MCUL takes no position on the issue of cannabis legalization, it supports the SAFE Banking Act, H.R. 2891/S.1323 and newly introduced legislation, the SAFER Banking Act, S.2860, that would provide a safe harbor for financial institutions to serve their members needs in states where cannabis use has become legal. We are urging our congressional delegation to support S. 2860 and work with leadership to pass it. 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 S.1838/H.R. 3881, the Credit Card Competition Act of 2023 and help us ensure the bill does not pass. 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 services to our members. MCUL supports and is calling for passage of H.R. 1059/S.1212, the SECURE Notarization Act that would establish minimum standards for electronic and remote notarization. The bill passed the U.S. House on 2/27/23 and we are urging the U.S. Senate to take it up and pass the bill. We are also educating our delegation on the importance of updating the 20 year old E-sign Act to better reflect how customers can signal their acceptance of electronic transactions. MCUL is monitoring actions by Congress related to recent failures of banks and communicating with Michigan congressional offices that credit unions are structured different from other financial institutions are not part of these failures, credit unions were not part of the banking problems that led to Dodd-Frank in 2010 and therefore any legislation from Congress that seeks to address the problems at the banks should not place added burdens on credit unions. MCUL is urging members of the delegation to co-sponsor S. 544, to provide a 3-year extension of CARES Act provisions related to the Central Liquidity Facility (CLF).

While MCUL takes no position on the issue of cannabis legalization, it supports the SAFE Banking Act, H.R. 2891/S.1323 and newly introduced legislation, the SAFER Banking Act, S.2860, that would provide a safe harbor for financial institutions to serve their members needs in states where cannabis use has become legal. We are urging our congressional delegation to support S. 2860 and work with leadership to pass it. 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 S.1838/H.R. 3881, the Credit Card Competition Act of 2023 and help us ensure the bill does not pass. 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 services to our members. MCUL supports and is calling for passage of H.R. 1059/S.1212, the SECURE Notarization Act that would establish minimum standards for electronic and remote notarization. The bill passed the U.S. House on 2/27/23 and we are urging the U.S. Senate to take it up and pass the bill. We are also educating our delegation on the importance of updating the 20 year old E-sign Act to better reflect how customers can signal their acceptance of electronic transactions. MCUL is monitoring actions by Congress related to recent failures of banks and communicating with Michigan congressional offices that credit unions are structured different from other financial institutions are not part of these failures, credit unions were not part of the banking problems that led to Dodd-Frank in 2010 and therefore any legislation from Congress that seeks to address the problems at the banks should not place added burdens on credit unions. MCUL is urging members of the delegation to co-sponsor S. 544, to provide a 3-year extension of CARES Act provisions related to the Central Liquidity Facility (CLF).

While MCUL takes no position on the issue of cannabis legalization, it supports the SAFE Banking Act, H.R. 2891/S.1323 and newly introduced legislation, the SAFER Banking Act, S.2860, that would provide a safe harbor for financial institutions to serve their members needs in states where cannabis use has become legal. We are urging our congressional delegation to support S. 2860 and work with leadership to pass it. 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 S.1838/H.R. 3881, the Credit Card Competition Act of 2023 and help us ensure the bill does not pass. 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 services to our members. MCUL supports and is calling for passage of H.R. 1059/S.1212, the SECURE Notarization Act that would establish minimum standards for electronic and remote notarization. The bill passed the U.S. House on 2/27/23 and we are urging the U.S. Senate to take it up and pass the bill. We are also educating our delegation on the importance of updating the 20 year old E-sign Act to better reflect how customers can signal their acceptance of electronic transactions. MCUL is monitoring actions by Congress related to recent failures of banks and communicating with Michigan congressional offices that credit unions are structured different from other financial institutions are not part of these failures, credit unions were not part of the banking problems that led to Dodd-Frank in 2010 and therefore any legislation from Congress that seeks to address the problems at the banks should not place added burdens on credit unions. MCUL is urging members of the delegation to co-sponsor S. 544, to provide a 3-year extension of CARES Act provisions related to the Central Liquidity Facility (CLF).

While MCUL takes no position on the issue of cannabis legalization, it supports the SAFE Banking Act, H.R. 2891/S.1323 and newly introduced legislation, the SAFER Banking Act, S.2860, that would provide a safe harbor for financial institutions to serve their members needs in states where cannabis use has become legal. We are urging our congressional delegation to support S. 2860 and work with leadership to pass it. 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 S.1838/H.R. 3881, the Credit Card Competition Act of 2023 and help us ensure the bill does not pass. 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 services to our members. MCUL supports and is calling for passage of H.R. 1059/S.1212, the SECURE Notarization Act that would establish minimum standards for electronic and remote notarization. The bill passed the U.S. House on 2/27/23 and we are urging the U.S. Senate to take it up and pass the bill. We are also educating our delegation on the importance of updating the 20 year old E-sign Act to better reflect how customers can signal their acceptance of electronic transactions. MCUL is monitoring actions by Congress related to recent failures of banks and communicating with Michigan congressional offices that credit unions are structured different from other financial institutions are not part of these failures, credit unions were not part of the banking problems that led to Dodd-Frank in 2010 and therefore any legislation from Congress that seeks to address the problems at the banks should not place added burdens on credit unions. MCUL is urging members of the delegation to co-sponsor S. 544, to provide a 3-year extension of CARES Act provisions related to the Central Liquidity Facility (CLF).

While MCUL takes no position on the issue of cannabis legalization, it supports the SAFE Banking Act, H.R. 2891/S.1323 and newly introduced legislation, the SAFER Banking Act, S.2860, that would provide a safe harbor for financial institutions to serve their members needs in states where cannabis use has become legal. We are urging our congressional delegation to support S. 2860 and work with leadership to pass it. 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 S.1838/H.R. 3881, the Credit Card Competition Act of 2023 and help us ensure the bill does not pass. 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 services to our members. MCUL supports and is calling for passage of H.R. 1059/S.1212, the SECURE Notarization Act that would establish minimum standards for electronic and remote notarization. The bill passed the U.S. House on 2/27/23 and we are urging the U.S. Senate to take it up and pass the bill. We are also educating our delegation on the importance of updating the 20 year old E-sign Act to better reflect how customers can signal their acceptance of electronic transactions. MCUL is monitoring actions by Congress related to recent failures of banks and communicating with Michigan congressional offices that credit unions are structured different from other financial institutions are not part of these failures, credit unions were not part of the banking problems that led to Dodd-Frank in 2010 and therefore any legislation from Congress that seeks to address the problems at the banks should not place added burdens on credit unions. MCUL is urging members of the delegation to co-sponsor S. 544, to provide a 3-year extension of CARES Act provisions related to the Central Liquidity Facility (CLF).

While MCUL takes no position on the issue of cannabis legalization, it supports the SAFE Banking Act, H.R. 2891/S.1323 and newly introduced legislation, the SAFER Banking Act, S.2860, that would provide a safe harbor for financial institutions to serve their members needs in states where cannabis use has become legal. We are urging our congressional delegation to support S. 2860 and work with leadership to pass it. 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 S.1838/H.R. 3881, the Credit Card Competition Act of 2023 and help us ensure the bill does not pass. 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 services to our members. MCUL supports and is calling for passage of H.R. 1059/S.1212, the SECURE Notarization Act that would establish minimum standards for electronic and remote notarization. The bill passed the U.S. House on 2/27/23 and we are urging the U.S. Senate to take it up and pass the bill. We are also educating our delegation on the importance of updating the 20 year old E-sign Act to better reflect how customers can signal their acceptance of electronic transactions. MCUL is monitoring actions by Congress related to recent failures of banks and communicating with Michigan congressional offices that credit unions are structured different from other financial institutions are not part of these failures, credit unions were not part of the banking problems that led to Dodd-Frank in 2010 and therefore any legislation from Congress that seeks to address the problems at the banks should not place added burdens on credit unions. MCUL is urging members of the delegation to co-sponsor S. 544, to provide a 3-year extension of CARES Act provisions related to the Central Liquidity Facility (CLF).

While MCUL takes no position on the issue of cannabis legalization, it supports the SAFE Banking Act, H.R. 2891/S.1323 and newly introduced legislation, the SAFER Banking Act, S.2860, that would provide a safe harbor for financial institutions to serve their members needs in states where cannabis use has become legal. We are urging our congressional delegation to support S. 2860 and work with leadership to pass it. 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 S.1838/H.R. 3881, the Credit Card Competition Act of 2023 and help us ensure the bill does not pass. 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 services to our members. MCUL supports and is calling for passage of H.R. 1059/S.1212, the SECURE Notarization Act that would establish minimum standards for electronic and remote notarization. The bill passed the U.S. House on 2/27/23 and we are urging the U.S. Senate to take it up and pass the bill. We are also educating our delegation on the importance of updating the 20 year old E-sign Act to better reflect how customers can signal their acceptance of electronic transactions. MCUL is monitoring actions by Congress related to recent failures of banks and communicating with Michigan congressional offices that credit unions are structured different from other financial institutions are not part of these failures, credit unions were not part of the banking problems that led to Dodd-Frank in 2010 and therefore any legislation from Congress that seeks to address the problems at the banks should not place added burdens on credit unions. MCUL is urging members of the delegation to co-sponsor S. 544, to provide a 3-year extension of CARES Act provisions related to the Central Liquidity Facility (CLF).

While MCUL takes no position on the issue of cannabis legalization, it supports the SAFE Banking Act, H.R. 2891/S.1323 and newly introduced legislation, the SAFER Banking Act, S.2860, that would provide a safe harbor for financial institutions to serve their members needs in states where cannabis use has become legal. We are urging our congressional delegation to support S. 2860 and work with leadership to pass it. 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 S.1838/H.R. 3881, the Credit Card Competition Act of 2023 and help us ensure the bill does not pass. 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 services to our members. MCUL supports and is calling for passage of H.R. 1059/S.1212, the SECURE Notarization Act that would establish minimum standards for electronic and remote notarization. The bill passed the U.S. House on 2/27/23 and we are urging the U.S. Senate to take it up and pass the bill. We are also educating our delegation on the importance of updating the 20 year old E-sign Act to better reflect how customers can signal their acceptance of electronic transactions. MCUL is monitoring actions by Congress related to recent failures of banks and communicating with Michigan congressional offices that credit unions are structured different from other financial institutions are not part of these failures, credit unions were not part of the banking problems that led to Dodd-Frank in 2010 and therefore any legislation from Congress that seeks to address the problems at the banks should not place added burdens on credit unions. MCUL is urging members of the delegation to co-sponsor S. 544, to provide a 3-year extension of CARES Act provisions related to the Central Liquidity Facility (CLF).

While MCUL takes no position on the issue of cannabis legalization, it supports the SAFE Banking Act, H.R. 2891/S.1323 and newly introduced legislation, the SAFER Banking Act, S.2860, that would provide a safe harbor for financial institutions to serve their members needs in states where cannabis use has become legal. We are urging our congressional delegation to support S. 2860 and work with leadership to pass it. 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 S.1838/H.R. 3881, the Credit Card Competition Act of 2023 and help us ensure the bill does not pass. 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 services to our members. MCUL supports and is calling for passage of H.R. 1059/S.1212, the SECURE Notarization Act that would establish minimum standards for electronic and remote notarization. The bill passed the U.S. House on 2/27/23 and we are urging the U.S. Senate to take it up and pass the bill. We are also educating our delegation on the importance of updating the 20 year old E-sign Act to better reflect how customers can signal their acceptance of electronic transactions. MCUL is monitoring actions by Congress related to recent failures of banks and communicating with Michigan congressional offices that credit unions are structured different from other financial institutions are not part of these failures, credit unions were not part of the banking problems that led to Dodd-Frank in 2010 and therefore any legislation from Congress that seeks to address the problems at the banks should not place added burdens on credit unions. MCUL is urging members of the delegation to co-sponsor S. 544, to provide a 3-year extension of CARES Act provisions related to the Central Liquidity Facility (CLF).

While MCUL takes no position on the issue of cannabis legalization, it supports the SAFE Banking Act, H.R. 2891/S.1323 and newly introduced legislation, the SAFER Banking Act, S.2860, that would provide a safe harbor for financial institutions to serve their members needs in states where cannabis use has become legal. We are urging our congressional delegation to support S. 2860 and work with leadership to pass it. 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 S.1838/H.R. 3881, the Credit Card Competition Act of 2023 and help us ensure the bill does not pass. 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 services to our members. MCUL supports and is calling for passage of H.R. 1059/S.1212, the SECURE Notarization Act that would establish minimum standards for electronic and remote notarization. The bill passed the U.S. House on 2/27/23 and we are urging the U.S. Senate to take it up and pass the bill. We are also educating our delegation on the importance of updating the 20 year old E-sign Act to better reflect how customers can signal their acceptance of electronic transactions. MCUL is monitoring actions by Congress related to recent failures of banks and communicating with Michigan congressional offices that credit unions are structured different from other financial institutions are not part of these failures, credit unions were not part of the banking problems that led to Dodd-Frank in 2010 and therefore any legislation from Congress that seeks to address the problems at the banks should not place added burdens on credit unions. MCUL is urging members of the delegation to co-sponsor S. 544, to provide a 3-year extension of CARES Act provisions related to the Central Liquidity Facility (CLF).

While MCUL takes no position on the issue of cannabis legalization, it supports the SAFE Banking Act, H.R. 2891/S.1323 and newly introduced legislation, the SAFER Banking Act, S.2860, that would provide a safe harbor for financial institutions to serve their members needs in states where cannabis use has become legal. We are urging our congressional delegation to support S. 2860 and work with leadership to pass it. 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 S.1838/H.R. 3881, the Credit Card Competition Act of 2023 and help us ensure the bill does not pass. 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 services to our members. MCUL supports and is calling for passage of H.R. 1059/S.1212, the SECURE Notarization Act that would establish minimum standards for electronic and remote notarization. The bill passed the U.S. House on 2/27/23 and we are urging the U.S. Senate to take it up and pass the bill. We are also educating our delegation on the importance of updating the 20 year old E-sign Act to better reflect how customers can signal their acceptance of electronic transactions. MCUL is monitoring actions by Congress related to recent failures of banks and communicating with Michigan congressional offices that credit unions are structured different from other financial institutions are not part of these failures, credit unions were not part of the banking problems that led to Dodd-Frank in 2010 and therefore any legislation from Congress that seeks to address the problems at the banks should not place added burdens on credit unions. MCUL is urging members of the delegation to co-sponsor S. 544, to provide a 3-year extension of CARES Act provisions related to the Central Liquidity Facility (CLF).

Lapses by the retail industry/merchants in securing consumer information continue to be extremely problematic and costly to consumers and financial institutions. MCUL is advocating that Congress hold retailers to the same or similar data security standards as the financial service industry has to abide by and require retailers notify credit unions sooner once a breach occurs. We support the introduction of legislation that ensures all businesses, institutions and organizations that collect, use or share personal data are subject to national standards, to include language that preempts state requirements, among other things. MCUL supports modernizing the Federal Credit Union Act (FCUA). The financial service industry is rapidly changing. Advancements in technology, including high speed internet connectivity, have significantly changed our society and how financial institutions do business. Updating the FCUA has become necessary to ensure federally chartered credit unions have the powers and flexibility to be competitive and members can benefit from new technology. We are currently supporting S. 539/H.R.4867, the Veterans Member Business Loan Act that would exempt credit union business loans to veterans from the member business lending cap and we are supporting H.R. 582/S.610, the Credit Union Board Modernization Act which would afford federal credit unions flexibility with regard to how often their boards meet. In addition, we are calling on Congress to pass H.R. 4868, the Member Business Loan Expansion Act, allowing the NCUA to extend the maturity limit on non-mortgage loans. MCUL is monitoring developments for GSE/housing finance reform and will advocate to make sure any reforms reflect the significant role credit unions play in the secondary mortgage market and we will defend against anything that is potentially harmful to credit unions and our members. MCUL is calling on Congress to pass bank secrecy act/anti-money laundering reforms and provide financial institutions relief from unnecessary, duplicate and burdensome rules and increase the SAR and CTR thresholds. MCUL is educating members of our congressional delegation on the growing interest among credit union members and credit unions in cryptocurrency. We believe Congress should explore ways to regulate the delivery of financial services using digital currencies to ensure consumers are protected in the same way if they received financial services from a financial institution. We urge Congress to look for ways to enable credit unions and other financial institutions to provide digital assets, so that these services can be properly overseen by federal regulators. Finally, credit unions seek parity with other financial institutions in this area as credit unions must be able to offer digital/crypto products and services directly to their members in the same way that other institutions can to their customers. MCUL is urging Congress to amend H.R. 4766, the Clarity for Payment Stablecoins Act of 2023, to remove current competitive barriers for credit unions in stablecoin legislation. MCUL remains opposed to a proposal by the U.S. Treasury Department and that has been discussed in Congress that would require financial institutions to report on an annual basis, the gross inflows and outflows, for member accounts (businesses and individuals). We have been educating our congressional delegation on the issue and urging them to reject including the proposal in future legislation. Lastly, credit unions are not-for-profit member-owned financial institutions, owned by members they service. Credit unions consumer-focused model is self-regulating and a principal reason why credit unions are not covered by the Community Reinvestment Act (CRA). MCUL will educate members of the delegation of the work credit unions are doing to serve low/moderate-income, diverse communities and the negative impacts of including credit unions in the CRA. We will oppose efforts that would result in credit unions of any size being included in the CRA.

Lapses by the retail industry/merchants in securing consumer information continue to be extremely problematic and costly to consumers and financial institutions. MCUL is advocating that Congress hold retailers to the same or similar data security standards as the financial service industry has to abide by and require retailers notify credit unions sooner once a breach occurs. We support the introduction of legislation that ensures all businesses, institutions and organizations that collect, use or share personal data are subject to national standards, to include language that preempts state requirements, among other things. MCUL supports modernizing the Federal Credit Union Act (FCUA). The financial service industry is rapidly changing. Advancements in technology, including high speed internet connectivity, have significantly changed our society and how financial institutions do business. Updating the FCUA has become necessary to ensure federally chartered credit unions have the powers and flexibility to be competitive and members can benefit from new technology. We are currently supporting S. 539/H.R.4867, the Veterans Member Business Loan Act that would exempt credit union business loans to veterans from the member business lending cap and we are supporting H.R. 582/S.610, the Credit Union Board Modernization Act which would afford federal credit unions flexibility with regard to how often their boards meet. In addition, we are calling on Congress to pass H.R. 4868, the Member Business Loan Expansion Act, allowing the NCUA to extend the maturity limit on non-mortgage loans. MCUL is monitoring developments for GSE/housing finance reform and will advocate to make sure any reforms reflect the significant role credit unions play in the secondary mortgage market and we will defend against anything that is potentially harmful to credit unions and our members. MCUL is calling on Congress to pass bank secrecy act/anti-money laundering reforms and provide financial institutions relief from unnecessary, duplicate and burdensome rules and increase the SAR and CTR thresholds. MCUL is educating members of our congressional delegation on the growing interest among credit union members and credit unions in cryptocurrency. We believe Congress should explore ways to regulate the delivery of financial services using digital currencies to ensure consumers are protected in the same way if they received financial services from a financial institution. We urge Congress to look for ways to enable credit unions and other financial institutions to provide digital assets, so that these services can be properly overseen by federal regulators. Finally, credit unions seek parity with other financial institutions in this area as credit unions must be able to offer digital/crypto products and services directly to their members in the same way that other institutions can to their customers. MCUL is urging Congress to amend H.R. 4766, the Clarity for Payment Stablecoins Act of 2023, to remove current competitive barriers for credit unions in stablecoin legislation. MCUL remains opposed to a proposal by the U.S. Treasury Department and that has been discussed in Congress that would require financial institutions to report on an annual basis, the gross inflows and outflows, for member accounts (businesses and individuals). We have been educating our congressional delegation on the issue and urging them to reject including the proposal in future legislation. Lastly, credit unions are not-for-profit member-owned financial institutions, owned by members they service. Credit unions consumer-focused model is self-regulating and a principal reason why credit unions are not covered by the Community Reinvestment Act (CRA). MCUL will educate members of the delegation of the work credit unions are doing to serve low/moderate-income, diverse communities and the negative impacts of including credit unions in the CRA. We will oppose efforts that would result in credit unions of any size being included in the CRA.

Lapses by the retail industry/merchants in securing consumer information continue to be extremely problematic and costly to consumers and financial institutions. MCUL is advocating that Congress hold retailers to the same or similar data security standards as the financial service industry has to abide by and require retailers notify credit unions sooner once a breach occurs. We support the introduction of legislation that ensures all businesses, institutions and organizations that collect, use or share personal data are subject to national standards, to include language that preempts state requirements, among other things. MCUL supports modernizing the Federal Credit Union Act (FCUA). The financial service industry is rapidly changing. Advancements in technology, including high speed internet connectivity, have significantly changed our society and how financial institutions do business. Updating the FCUA has become necessary to ensure federally chartered credit unions have the powers and flexibility to be competitive and members can benefit from new technology. We are currently supporting S. 539/H.R.4867, the Veterans Member Business Loan Act that would exempt credit union business loans to veterans from the member business lending cap and we are supporting H.R. 582/S.610, the Credit Union Board Modernization Act which would afford federal credit unions flexibility with regard to how often their boards meet. In addition, we are calling on Congress to pass H.R. 4868, the Member Business Loan Expansion Act, allowing the NCUA to extend the maturity limit on non-mortgage loans. MCUL is monitoring developments for GSE/housing finance reform and will advocate to make sure any reforms reflect the significant role credit unions play in the secondary mortgage market and we will defend against anything that is potentially harmful to credit unions and our members. MCUL is calling on Congress to pass bank secrecy act/anti-money laundering reforms and provide financial institutions relief from unnecessary, duplicate and burdensome rules and increase the SAR and CTR thresholds. MCUL is educating members of our congressional delegation on the growing interest among credit union members and credit unions in cryptocurrency. We believe Congress should explore ways to regulate the delivery of financial services using digital currencies to ensure consumers are protected in the same way if they received financial services from a financial institution. We urge Congress to look for ways to enable credit unions and other financial institutions to provide digital assets, so that these services can be properly overseen by federal regulators. Finally, credit unions seek parity with other financial institutions in this area as credit unions must be able to offer digital/crypto products and services directly to their members in the same way that other institutions can to their customers. MCUL is urging Congress to amend H.R. 4766, the Clarity for Payment Stablecoins Act of 2023, to remove current competitive barriers for credit unions in stablecoin legislation. MCUL remains opposed to a proposal by the U.S. Treasury Department and that has been discussed in Congress that would require financial institutions to report on an annual basis, the gross inflows and outflows, for member accounts (businesses and individuals). We have been educating our congressional delegation on the issue and urging them to reject including the proposal in future legislation. MCUL opposes H.R. 9303/S.4943, the Protecting Consumers from Payment Scams Act of 2024 provided the bill fails to tackle the root causes of criminal activity that have left consumers vulnerable to fraud/scams, does not provide resources to improve consumer education about fraud/scams and would impose severe costs on credit unions and dramatically alter their ability to absorb future loses. Lastly, credit unions are not-for-profit member-owned financial institutions, owned by members they service. Credit unions consumer-focused model is self-regulating and a principal reason why credit unions are not covered by the Community Reinvestment Act (CRA). MCUL will educate members of the delegation of the work credit unions are doing to serve low/moderate-income, diverse communities and the negative impacts of including credit unions in the CRA. We will oppose efforts that would result in credit unions of any size being included in the CRA.

Lapses by the retail industry/merchants in securing consumer information continue to be extremely problematic and costly to consumers and financial institutions. MCUL is advocating that Congress hold retailers to the same or similar data security standards as the financial service industry has to abide by and require retailers notify credit unions sooner once a breach occurs. We support the introduction of legislation that ensures all businesses, institutions and organizations that collect, use or share personal data are subject to national standards, to include language that preempts state requirements, among other things. MCUL supports modernizing the Federal Credit Union Act (FCUA). The financial service industry is rapidly changing. Advancements in technology, including high speed internet connectivity, have significantly changed our society and how financial institutions do business. Updating the FCUA has become necessary to ensure federally chartered credit unions have the powers and flexibility to be competitive and members can benefit from new technology. We are currently supporting S. 539/H.R.4867, the Veterans Member Business Loan Act that would exempt credit union business loans to veterans from the member business lending cap and we are supporting H.R. 582/S.610, the Credit Union Board Modernization Act which would afford federal credit unions flexibility with regard to how often their boards meet. In addition, we are calling on Congress to pass H.R. 4868, the Member Business Loan Expansion Act, allowing the NCUA to extend the maturity limit on non-mortgage loans. MCUL is monitoring developments for GSE/housing finance reform and will advocate to make sure any reforms reflect the significant role credit unions play in the secondary mortgage market and we will defend against anything that is potentially harmful to credit unions and our members. MCUL is calling on Congress to pass bank secrecy act/anti-money laundering reforms and provide financial institutions relief from unnecessary, duplicate and burdensome rules and increase the SAR and CTR thresholds. MCUL is educating members of our congressional delegation on the growing interest among credit union members and credit unions in cryptocurrency. We believe Congress should explore ways to regulate the delivery of financial services using digital currencies to ensure consumers are protected in the same way if they received financial services from a financial institution. We urge Congress to look for ways to enable credit unions and other financial institutions to provide digital assets, so that these services can be properly overseen by federal regulators. Finally, credit unions seek parity with other financial institutions in this area as credit unions must be able to offer digital/crypto products and services directly to their members in the same way that other institutions can to their customers. MCUL is urging Congress to amend H.R. 4766, the Clarity for Payment Stablecoins Act of 2023, to remove current competitive barriers for credit unions in stablecoin legislation. MCUL remains opposed to a proposal by the U.S. Treasury Department and that has been discussed in Congress that would require financial institutions to report on an annual basis, the gross inflows and outflows, for member accounts (businesses and individuals). We have been educating our congressional delegation on the issue and urging them to reject including the proposal in future legislation. MCUL opposes H.R. 9303/S.4943, the Protecting Consumers from Payment Scams Act of 2024 provided the bill fails to tackle the root causes of criminal activity that have left consumers vulnerable to fraud/scams, does not provide resources to improve consumer education about fraud/scams and would impose severe costs on credit unions and dramatically alter their ability to absorb future loses. Lastly, credit unions are not-for-profit member-owned financial institutions, owned by members they service. Credit unions consumer-focused model is self-regulating and a principal reason why credit unions are not covered by the Community Reinvestment Act (CRA). MCUL will educate members of the delegation of the work credit unions are doing to serve low/moderate-income, diverse communities and the negative impacts of including credit unions in the CRA. We will oppose efforts that would result in credit unions of any size being included in the CRA.

Lapses by the retail industry/merchants in securing consumer information continue to be extremely problematic and costly to consumers and financial institutions. MCUL is advocating that Congress hold retailers to the same or similar data security standards as the financial service industry has to abide by and require retailers notify credit unions sooner once a breach occurs. We support the introduction of legislation that ensures all businesses, institutions and organizations that collect, use or share personal data are subject to national standards, to include language that preempts state requirements, among other things. MCUL supports modernizing the Federal Credit Union Act (FCUA). The financial service industry is rapidly changing. Advancements in technology, including high speed internet connectivity, have significantly changed our society and how financial institutions do business. Updating the FCUA has become necessary to ensure federally chartered credit unions have the powers and flexibility to be competitive and members can benefit from new technology. We are currently supporting S. 539/H.R.4867, the Veterans Member Business Loan Act that would exempt credit union business loans to veterans from the member business lending cap and we are supporting H.R. 582/S.610, the Credit Union Board Modernization Act which would afford federal credit unions flexibility with regard to how often their boards meet. In addition, we are calling on Congress to pass H.R. 4868, the Member Business Loan Expansion Act, allowing the NCUA to extend the maturity limit on non-mortgage loans. MCUL is monitoring developments for GSE/housing finance reform and will advocate to make sure any reforms reflect the significant role credit unions play in the secondary mortgage market and we will defend against anything that is potentially harmful to credit unions and our members. MCUL is calling on Congress to pass bank secrecy act/anti-money laundering reforms and provide financial institutions relief from unnecessary, duplicate and burdensome rules and increase the SAR and CTR thresholds. MCUL is educating members of our congressional delegation on the growing interest among credit union members and credit unions in cryptocurrency. We believe Congress should explore ways to regulate the delivery of financial services using digital currencies to ensure consumers are protected in the same way if they received financial services from a financial institution. We urge Congress to look for ways to enable credit unions and other financial institutions to provide digital assets, so that these services can be properly overseen by federal regulators. Finally, credit unions seek parity with other financial institutions in this area as credit unions must be able to offer digital/crypto products and services directly to their members in the same way that other institutions can to their customers. MCUL is urging Congress to amend H.R. 4766, the Clarity for Payment Stablecoins Act of 2023, to remove current competitive barriers for credit unions in stablecoin legislation. MCUL remains opposed to a proposal by the U.S. Treasury Department and that has been discussed in Congress that would require financial institutions to report on an annual basis, the gross inflows and outflows, for member accounts (businesses and individuals). We have been educating our congressional delegation on the issue and urging them to reject including the proposal in future legislation. MCUL opposes H.R. 9303/S.4943, the Protecting Consumers from Payment Scams Act of 2024 provided the bill fails to tackle the root causes of criminal activity that have left consumers vulnerable to fraud/scams, does not provide resources to improve consumer education about fraud/scams and would impose severe costs on credit unions and dramatically alter their ability to absorb future loses. Lastly, credit unions are not-for-profit member-owned financial institutions, owned by members they service. Credit unions consumer-focused model is self-regulating and a principal reason why credit unions are not covered by the Community Reinvestment Act (CRA). MCUL will educate members of the delegation of the work credit unions are doing to serve low/moderate-income, diverse communities and the negative impacts of including credit unions in the CRA. We will oppose efforts that would result in credit unions of any size being included in the CRA.

Lapses by the retail industry/merchants in securing consumer information continue to be extremely problematic and costly to consumers and financial institutions. MCUL is advocating that Congress hold retailers to the same or similar data security standards as the financial service industry has to abide by and require retailers notify credit unions sooner once a breach occurs. We support the introduction of legislation that ensures all businesses, institutions and organizations that collect, use or share personal data are subject to national standards, to include language that preempts state requirements, among other things. MCUL supports modernizing the Federal Credit Union Act (FCUA). The financial service industry is rapidly changing. Advancements in technology, including high speed internet connectivity, have significantly changed our society and how financial institutions do business. Updating the FCUA has become necessary to ensure federally chartered credit unions have the powers and flexibility to be competitive and members can benefit from new technology. We are currently supporting S. 539/H.R.4867, the Veterans Member Business Loan Act that would exempt credit union business loans to veterans from the member business lending cap and we are supporting H.R. 582/S.610, the Credit Union Board Modernization Act which would afford federal credit unions flexibility with regard to how often their boards meet. In addition, we are calling on Congress to pass H.R. 4868, the Member Business Loan Expansion Act, allowing the NCUA to extend the maturity limit on non-mortgage loans. MCUL is monitoring developments for GSE/housing finance reform and will advocate to make sure any reforms reflect the significant role credit unions play in the secondary mortgage market and we will defend against anything that is potentially harmful to credit unions and our members. MCUL is calling on Congress to pass bank secrecy act/anti-money laundering reforms and provide financial institutions relief from unnecessary, duplicate and burdensome rules and increase the SAR and CTR thresholds. MCUL is educating members of our congressional delegation on the growing interest among credit union members and credit unions in cryptocurrency. We believe Congress should explore ways to regulate the delivery of financial services using digital currencies to ensure consumers are protected in the same way if they received financial services from a financial institution. We urge Congress to look for ways to enable credit unions and other financial institutions to provide digital assets, so that these services can be properly overseen by federal regulators. Finally, credit unions seek parity with other financial institutions in this area as credit unions must be able to offer digital/crypto products and services directly to their members in the same way that other institutions can to their customers. MCUL is urging Congress to amend H.R. 4766, the Clarity for Payment Stablecoins Act of 2023, to remove current competitive barriers for credit unions in stablecoin legislation. MCUL remains opposed to a proposal by the U.S. Treasury Department and that has been discussed in Congress that would require financial institutions to report on an annual basis, the gross inflows and outflows, for member accounts (businesses and individuals). We have been educating our congressional delegation on the issue and urging them to reject including the proposal in future legislation. Lastly, credit unions are not-for-profit member-owned financial institutions, owned by members they service. Credit unions consumer-focused model is self-regulating and a principal reason why credit unions are not covered by the Community Reinvestment Act (CRA). MCUL will educate members of the delegation of the work credit unions are doing to serve low/moderate-income, diverse communities and the negative impacts of including credit unions in the CRA. We will oppose efforts that would result in credit unions of any size being included in the CRA.

Lapses by the retail industry/merchants in securing consumer information continue to be extremely problematic and costly to consumers and financial institutions. MCUL is advocating that Congress hold retailers to the same or similar data security standards as the financial service industry has to abide by and require retailers notify credit unions sooner once a breach occurs. We support the introduction of legislation that ensures all businesses, institutions and organizations that collect, use or share personal data are subject to national standards, to include language that preempts state requirements, among other things. MCUL supports modernizing the Federal Credit Union Act (FCUA). The financial service industry is rapidly changing. Advancements in technology, including high speed internet connectivity, have significantly changed our society and how financial institutions do business. Updating the FCUA has become necessary to ensure federally chartered credit unions have the powers and flexibility to be competitive and members can benefit from new technology. We are currently supporting S. 539/H.R.4867, the Veterans Member Business Loan Act that would exempt credit union business loans to veterans from the member business lending cap and we are supporting H.R. 582/S.610, the Credit Union Board Modernization Act which would afford federal credit unions flexibility with regard to how often their boards meet. In addition, we are calling on Congress to pass H.R. 4868, the Member Business Loan Expansion Act, allowing the NCUA to extend the maturity limit on non-mortgage loans. MCUL is monitoring developments for GSE/housing finance reform and will advocate to make sure any reforms reflect the significant role credit unions play in the secondary mortgage market and we will defend against anything that is potentially harmful to credit unions and our members. MCUL is calling on Congress to pass bank secrecy act/anti-money laundering reforms and provide financial institutions relief from unnecessary, duplicate and burdensome rules and increase the SAR and CTR thresholds. MCUL is educating members of our congressional delegation on the growing interest among credit union members and credit unions in cryptocurrency. We believe Congress should explore ways to regulate the delivery of financial services using digital currencies to ensure consumers are protected in the same way if they received financial services from a financial institution. We urge Congress to look for ways to enable credit unions and other financial institutions to provide digital assets, so that these services can be properly overseen by federal regulators. Finally, credit unions seek parity with other financial institutions in this area as credit unions must be able to offer digital/crypto products and services directly to their members in the same way that other institutions can to their customers. MCUL is urging Congress to amend H.R. 4766, the Clarity for Payment Stablecoins Act of 2023, to remove current competitive barriers for credit unions in stablecoin legislation. MCUL remains opposed to a proposal by the U.S. Treasury Department and that has been discussed in Congress that would require financial institutions to report on an annual basis, the gross inflows and outflows, for member accounts (businesses and individuals). We have been educating our congressional delegation on the issue and urging them to reject including the proposal in future legislation. Lastly, credit unions are not-for-profit member-owned financial institutions, owned by members they service. Credit unions consumer-focused model is self-regulating and a principal reason why credit unions are not covered by the Community Reinvestment Act (CRA). MCUL will educate members of the delegation of the work credit unions are doing to serve low/moderate-income, diverse communities and the negative impacts of including credit unions in the CRA. We will oppose efforts that would result in credit unions of any size being included in the CRA.

Lapses by the retail industry/merchants in securing consumer information continue to be extremely problematic and costly to consumers and financial institutions. MCUL is advocating that Congress hold retailers to the same or similar data security standards as the financial service industry has to abide by and require retailers notify credit unions sooner once a breach occurs. We support the introduction of legislation that ensures all businesses, institutions and organizations that collect, use or share personal data are subject to national standards, to include language that preempts state requirements, among other things. MCUL supports modernizing the Federal Credit Union Act (FCUA). The financial service industry is rapidly changing. Advancements in technology, including high speed internet connectivity, have significantly changed our society and how financial institutions do business. Updating the FCUA has become necessary to ensure federally chartered credit unions have the powers and flexibility to be competitive and members can benefit from new technology. We are currently supporting S. 539/H.R.4867, the Veterans Member Business Loan Act that would exempt credit union business loans to veterans from the member business lending cap and we are supporting H.R. 582/S.610, the Credit Union Board Modernization Act which would afford federal credit unions flexibility with regard to how often their boards meet. In addition, we are calling on Congress to pass H.R. 4868, the Member Business Loan Expansion Act, allowing the NCUA to extend the maturity limit on non-mortgage loans. MCUL is monitoring developments for GSE/housing finance reform and will advocate to make sure any reforms reflect the significant role credit unions play in the secondary mortgage market and we will defend against anything that is potentially harmful to credit unions and our members. MCUL is calling on Congress to pass bank secrecy act/anti-money laundering reforms and provide financial institutions relief from unnecessary, duplicate and burdensome rules and increase the SAR and CTR thresholds. MCUL is educating members of our congressional delegation on the growing interest among credit union members and credit unions in cryptocurrency. We believe Congress should explore ways to regulate the delivery of financial services using digital currencies to ensure consumers are protected in the same way if they received financial services from a financial institution. We urge Congress to look for ways to enable credit unions and other financial institutions to provide digital assets, so that these services can be properly overseen by federal regulators. Finally, credit unions seek parity with other financial institutions in this area as credit unions must be able to offer digital/crypto products and services directly to their members in the same way that other institutions can to their customers. MCUL is urging Congress to amend H.R. 4766, the Clarity for Payment Stablecoins Act of 2023, to remove current competitive barriers for credit unions in stablecoin legislation. MCUL remains opposed to a proposal by the U.S. Treasury Department and that has been discussed in Congress that would require financial institutions to report on an annual basis, the gross inflows and outflows, for member accounts (businesses and individuals). We have been educating our congressional delegation on the issue and urging them to reject including the proposal in future legislation. MCUL opposes H.R. 9303/S.4943, the Protecting Consumers from Payment Scams Act of 2024 provided the bill fails to tackle the root causes of criminal activity that have left consumers vulnerable to fraud/scams, does not provide resources to improve consumer education about fraud/scams and would impose severe costs on credit unions and dramatically alter their ability to absorb future loses. Lastly, credit unions are not-for-profit member-owned financial institutions, owned by members they service. Credit unions consumer-focused model is self-regulating and a principal reason why credit unions are not covered by the Community Reinvestment Act (CRA). MCUL will educate members of the delegation of the work credit unions are doing to serve low/moderate-income, diverse communities and the negative impacts of including credit unions in the CRA. We will oppose efforts that would result in credit unions of any size being included in the CRA.

Lapses by the retail industry/merchants in securing consumer information continue to be extremely problematic and costly to consumers and financial institutions. MCUL is advocating that Congress hold retailers to the same or similar data security standards as the financial service industry has to abide by and require retailers notify credit unions sooner once a breach occurs. We support the introduction of legislation that ensures all businesses, institutions and organizations that collect, use or share personal data are subject to national standards, to include language that preempts state requirements, among other things. MCUL supports modernizing the Federal Credit Union Act (FCUA). The financial service industry is rapidly changing. Advancements in technology, including high speed internet connectivity, have significantly changed our society and how financial institutions do business. Updating the FCUA has become necessary to ensure federally chartered credit unions have the powers and flexibility to be competitive and members can benefit from new technology. We are currently supporting S. 539/H.R.4867, the Veterans Member Business Loan Act that would exempt credit union business loans to veterans from the member business lending cap and we are supporting H.R. 582/S.610, the Credit Union Board Modernization Act which would afford federal credit unions flexibility with regard to how often their boards meet. In addition, we are calling on Congress to pass H.R. 4868, the Member Business Loan Expansion Act, allowing the NCUA to extend the maturity limit on non-mortgage loans. MCUL is monitoring developments for GSE/housing finance reform and will advocate to make sure any reforms reflect the significant role credit unions play in the secondary mortgage market and we will defend against anything that is potentially harmful to credit unions and our members. MCUL is calling on Congress to pass bank secrecy act/anti-money laundering reforms and provide financial institutions relief from unnecessary, duplicate and burdensome rules and increase the SAR and CTR thresholds. MCUL is educating members of our congressional delegation on the growing interest among credit union members and credit unions in cryptocurrency. We believe Congress should explore ways to regulate the delivery of financial services using digital currencies to ensure consumers are protected in the same way if they received financial services from a financial institution. We urge Congress to look for ways to enable credit unions and other financial institutions to provide digital assets, so that these services can be properly overseen by federal regulators. Finally, credit unions seek parity with other financial institutions in this area as credit unions must be able to offer digital/crypto products and services directly to their members in the same way that other institutions can to their customers. MCUL is urging Congress to amend H.R. 4766, the Clarity for Payment Stablecoins Act of 2023, to remove current competitive barriers for credit unions in stablecoin legislation. MCUL remains opposed to a proposal by the U.S. Treasury Department and that has been discussed in Congress that would require financial institutions to report on an annual basis, the gross inflows and outflows, for member accounts (businesses and individuals). We have been educating our congressional delegation on the issue and urging them to reject including the proposal in future legislation. Lastly, credit unions are not-for-profit member-owned financial institutions, owned by members they service. Credit unions consumer-focused model is self-regulating and a principal reason why credit unions are not covered by the Community Reinvestment Act (CRA). MCUL will educate members of the delegation of the work credit unions are doing to serve low/moderate-income, diverse communities and the negative impacts of including credit unions in the CRA. We will oppose efforts that would result in credit unions of any size being included in the CRA.

Lapses by the retail industry/merchants in securing consumer information continue to be extremely problematic and costly to consumers and financial institutions. MCUL is advocating that Congress hold retailers to the same or similar data security standards as the financial service industry has to abide by and require retailers notify credit unions sooner once a breach occurs. We support the introduction of legislation that ensures all businesses, institutions and organizations that collect, use or share personal data are subject to national standards, to include language that preempts state requirements, among other things. MCUL supports modernizing the Federal Credit Union Act (FCUA). The financial service industry is rapidly changing. Advancements in technology, including high speed internet connectivity, have significantly changed our society and how financial institutions do business. Updating the FCUA has become necessary to ensure federally chartered credit unions have the powers and flexibility to be competitive and members can benefit from new technology. We are currently supporting S. 539/H.R.4867, the Veterans Member Business Loan Act that would exempt credit union business loans to veterans from the member business lending cap and we are supporting H.R. 582/S.610, the Credit Union Board Modernization Act which would afford federal credit unions flexibility with regard to how often their boards meet. In addition, we are calling on Congress to pass H.R. 4868, the Member Business Loan Expansion Act, allowing the NCUA to extend the maturity limit on non-mortgage loans. MCUL is monitoring developments for GSE/housing finance reform and will advocate to make sure any reforms reflect the significant role credit unions play in the secondary mortgage market and we will defend against anything that is potentially harmful to credit unions and our members. MCUL is calling on Congress to pass bank secrecy act/anti-money laundering reforms and provide financial institutions relief from unnecessary, duplicate and burdensome rules and increase the SAR and CTR thresholds. MCUL is educating members of our congressional delegation on the growing interest among credit union members and credit unions in cryptocurrency. We believe Congress should explore ways to regulate the delivery of financial services using digital currencies to ensure consumers are protected in the same way if they received financial services from a financial institution. We urge Congress to look for ways to enable credit unions and other financial institutions to provide digital assets, so that these services can be properly overseen by federal regulators. Finally, credit unions seek parity with other financial institutions in this area as credit unions must be able to offer digital/crypto products and services directly to their members in the same way that other institutions can to their customers. MCUL is urging Congress to amend H.R. 4766, the Clarity for Payment Stablecoins Act of 2023, to remove current competitive barriers for credit unions in stablecoin legislation. MCUL remains opposed to a proposal by the U.S. Treasury Department and that has been discussed in Congress that would require financial institutions to report on an annual basis, the gross inflows and outflows, for member accounts (businesses and individuals). We have been educating our congressional delegation on the issue and urging them to reject including the proposal in future legislation. MCUL opposes H.R. 9303/S.4943, the Protecting Consumers from Payment Scams Act of 2024 provided the bill fails to tackle the root causes of criminal activity that have left consumers vulnerable to fraud/scams, does not provide resources to improve consumer education about fraud/scams and would impose severe costs on credit unions and dramatically alter their ability to absorb future loses. Lastly, credit unions are not-for-profit member-owned financial institutions, owned by members they service. Credit unions consumer-focused model is self-regulating and a principal reason why credit unions are not covered by the Community Reinvestment Act (CRA). MCUL will educate members of the delegation of the work credit unions are doing to serve low/moderate-income, diverse communities and the negative impacts of including credit unions in the CRA. We will oppose efforts that would result in credit unions of any size being included in the CRA.

Lapses by the retail industry/merchants in securing consumer information continue to be extremely problematic and costly to consumers and financial institutions. MCUL is advocating that Congress hold retailers to the same or similar data security standards as the financial service industry has to abide by and require retailers notify credit unions sooner once a breach occurs. We support the introduction of legislation that ensures all businesses, institutions and organizations that collect, use or share personal data are subject to national standards, to include language that preempts state requirements, among other things. MCUL supports modernizing the Federal Credit Union Act (FCUA). The financial service industry is rapidly changing. Advancements in technology, including high speed internet connectivity, have significantly changed our society and how financial institutions do business. Updating the FCUA has become necessary to ensure federally chartered credit unions have the powers and flexibility to be competitive and members can benefit from new technology. We are currently supporting S. 539/H.R.4867, the Veterans Member Business Loan Act that would exempt credit union business loans to veterans from the member business lending cap and we are supporting H.R. 582/S.610, the Credit Union Board Modernization Act which would afford federal credit unions flexibility with regard to how often their boards meet. In addition, we are calling on Congress to pass H.R. 4868, the Member Business Loan Expansion Act, allowing the NCUA to extend the maturity limit on non-mortgage loans. MCUL is monitoring developments for GSE/housing finance reform and will advocate to make sure any reforms reflect the significant role credit unions play in the secondary mortgage market and we will defend against anything that is potentially harmful to credit unions and our members. MCUL is calling on Congress to pass bank secrecy act/anti-money laundering reforms and provide financial institutions relief from unnecessary, duplicate and burdensome rules and increase the SAR and CTR thresholds. MCUL is educating members of our congressional delegation on the growing interest among credit union members and credit unions in cryptocurrency. We believe Congress should explore ways to regulate the delivery of financial services using digital currencies to ensure consumers are protected in the same way if they received financial services from a financial institution. We urge Congress to look for ways to enable credit unions and other financial institutions to provide digital assets, so that these services can be properly overseen by federal regulators. Finally, credit unions seek parity with other financial institutions in this area as credit unions must be able to offer digital/crypto products and services directly to their members in the same way that other institutions can to their customers. MCUL is urging Congress to amend H.R. 4766, the Clarity for Payment Stablecoins Act of 2023, to remove current competitive barriers for credit unions in stablecoin legislation. MCUL remains opposed to a proposal by the U.S. Treasury Department and that has been discussed in Congress that would require financial institutions to report on an annual basis, the gross inflows and outflows, for member accounts (businesses and individuals). We have been educating our congressional delegation on the issue and urging them to reject including the proposal in future legislation. Lastly, credit unions are not-for-profit member-owned financial institutions, owned by members they service. Credit unions consumer-focused model is self-regulating and a principal reason why credit unions are not covered by the Community Reinvestment Act (CRA). MCUL will educate members of the delegation of the work credit unions are doing to serve low/moderate-income, diverse communities and the negative impacts of including credit unions in the CRA. We will oppose efforts that would result in credit unions of any size being included in the CRA.

Lapses by the retail industry/merchants in securing consumer information continue to be extremely problematic and costly to consumers and financial institutions. MCUL is advocating that Congress hold retailers to the same or similar data security standards as the financial service industry has to abide by and require retailers notify credit unions sooner once a breach occurs. We support the introduction of legislation that ensures all businesses, institutions and organizations that collect, use or share personal data are subject to national standards, to include language that preempts state requirements, among other things. MCUL supports modernizing the Federal Credit Union Act (FCUA). The financial service industry is rapidly changing. Advancements in technology, including high speed internet connectivity, have significantly changed our society and how financial institutions do business. Updating the FCUA has become necessary to ensure federally chartered credit unions have the powers and flexibility to be competitive and members can benefit from new technology. We are currently supporting S. 539/H.R.4867, the Veterans Member Business Loan Act that would exempt credit union business loans to veterans from the member business lending cap and we are supporting H.R. 582/S.610, the Credit Union Board Modernization Act which would afford federal credit unions flexibility with regard to how often their boards meet. In addition, we are calling on Congress to pass H.R. 4868, the Member Business Loan Expansion Act, allowing the NCUA to extend the maturity limit on non-mortgage loans. MCUL is monitoring developments for GSE/housing finance reform and will advocate to make sure any reforms reflect the significant role credit unions play in the secondary mortgage market and we will defend against anything that is potentially harmful to credit unions and our members. MCUL is calling on Congress to pass bank secrecy act/anti-money laundering reforms and provide financial institutions relief from unnecessary, duplicate and burdensome rules and increase the SAR and CTR thresholds. MCUL is educating members of our congressional delegation on the growing interest among credit union members and credit unions in cryptocurrency. We believe Congress should explore ways to regulate the delivery of financial services using digital currencies to ensure consumers are protected in the same way if they received financial services from a financial institution. We urge Congress to look for ways to enable credit unions and other financial institutions to provide digital assets, so that these services can be properly overseen by federal regulators. Finally, credit unions seek parity with other financial institutions in this area as credit unions must be able to offer digital/crypto products and services directly to their members in the same way that other institutions can to their customers. MCUL is urging Congress to amend H.R. 4766, the Clarity for Payment Stablecoins Act of 2023, to remove current competitive barriers for credit unions in stablecoin legislation. MCUL remains opposed to a proposal by the U.S. Treasury Department and that has been discussed in Congress that would require financial institutions to report on an annual basis, the gross inflows and outflows, for member accounts (businesses and individuals). We have been educating our congressional delegation on the issue and urging them to reject including the proposal in future legislation. MCUL opposes H.R. 9303/S.4943, the Protecting Consumers from Payment Scams Act of 2024 provided the bill fails to tackle the root causes of criminal activity that have left consumers vulnerable to fraud/scams, does not provide resources to improve consumer education about fraud/scams and would impose severe costs on credit unions and dramatically alter their ability to absorb future loses. Lastly, credit unions are not-for-profit member-owned financial institutions, owned by members they service. Credit unions consumer-focused model is self-regulating and a principal reason why credit unions are not covered by the Community Reinvestment Act (CRA). MCUL will educate members of the delegation of the work credit unions are doing to serve low/moderate-income, diverse communities and the negative impacts of including credit unions in the CRA. We will oppose efforts that would result in credit unions of any size being included in the CRA.

Lapses by the retail industry/merchants in securing consumer information continue to be extremely problematic and costly to consumers and financial institutions. MCUL is advocating that Congress hold retailers to the same or similar data security standards as the financial service industry has to abide by and require retailers notify credit unions sooner once a breach occurs. We support the introduction of legislation that ensures all businesses, institutions and organizations that collect, use or share personal data are subject to national standards, to include language that preempts state requirements, among other things. MCUL supports modernizing the Federal Credit Union Act (FCUA). The financial service industry is rapidly changing. Advancements in technology, including high speed internet connectivity, have significantly changed our society and how financial institutions do business. Updating the FCUA has become necessary to ensure federally chartered credit unions have the powers and flexibility to be competitive and members can benefit from new technology. We are currently supporting S. 539/H.R.4867, the Veterans Member Business Loan Act that would exempt credit union business loans to veterans from the member business lending cap and we are supporting H.R. 582/S.610, the Credit Union Board Modernization Act which would afford federal credit unions flexibility with regard to how often their boards meet. In addition, we are calling on Congress to pass H.R. 4868, the Member Business Loan Expansion Act, allowing the NCUA to extend the maturity limit on non-mortgage loans. MCUL is monitoring developments for GSE/housing finance reform and will advocate to make sure any reforms reflect the significant role credit unions play in the secondary mortgage market and we will defend against anything that is potentially harmful to credit unions and our members. MCUL is calling on Congress to pass bank secrecy act/anti-money laundering reforms and provide financial institutions relief from unnecessary, duplicate and burdensome rules and increase the SAR and CTR thresholds. MCUL is educating members of our congressional delegation on the growing interest among credit union members and credit unions in cryptocurrency. We believe Congress should explore ways to regulate the delivery of financial services using digital currencies to ensure consumers are protected in the same way if they received financial services from a financial institution. We urge Congress to look for ways to enable credit unions and other financial institutions to provide digital assets, so that these services can be properly overseen by federal regulators. Finally, credit unions seek parity with other financial institutions in this area as credit unions must be able to offer digital/crypto products and services directly to their members in the same way that other institutions can to their customers. MCUL is urging Congress to amend H.R. 4766, the Clarity for Payment Stablecoins Act of 2023, to remove current competitive barriers for credit unions in stablecoin legislation. MCUL remains opposed to a proposal by the U.S. Treasury Department and that has been discussed in Congress that would require financial institutions to report on an annual basis, the gross inflows and outflows, for member accounts (businesses and individuals). We have been educating our congressional delegation on the issue and urging them to reject including the proposal in future legislation. MCUL opposes H.R. 9303/S.4943, the Protecting Consumers from Payment Scams Act of 2024 provided the bill fails to tackle the root causes of criminal activity that have left consumers vulnerable to fraud/scams, does not provide resources to improve consumer education about fraud/scams and would impose severe costs on credit unions and dramatically alter their ability to absorb future loses. Lastly, credit unions are not-for-profit member-owned financial institutions, owned by members they service. Credit unions consumer-focused model is self-regulating and a principal reason why credit unions are not covered by the Community Reinvestment Act (CRA). MCUL will educate members of the delegation of the work credit unions are doing to serve low/moderate-income, diverse communities and the negative impacts of including credit unions in the CRA. We will oppose efforts that would result in credit unions of any size being included in the CRA.

Lapses by the retail industry/merchants in securing consumer information continue to be extremely problematic and costly to consumers and financial institutions. MCUL is advocating that Congress hold retailers to the same or similar data security standards as the financial service industry has to abide by and require retailers notify credit unions sooner once a breach occurs. We support the introduction of legislation that ensures all businesses, institutions and organizations that collect, use or share personal data are subject to national standards, to include language that preempts state requirements, among other things. MCUL supports modernizing the Federal Credit Union Act (FCUA). The financial service industry is rapidly changing. Advancements in technology, including high speed internet connectivity, have significantly changed our society and how financial institutions do business. Updating the FCUA has become necessary to ensure federally chartered credit unions have the powers and flexibility to be competitive and members can benefit from new technology. We are currently supporting S. 539/H.R.4867, the Veterans Member Business Loan Act that would exempt credit union business loans to veterans from the member business lending cap and we are supporting H.R. 582/S.610, the Credit Union Board Modernization Act which would afford federal credit unions flexibility with regard to how often their boards meet. In addition, we are calling on Congress to pass H.R. 4868, the Member Business Loan Expansion Act, allowing the NCUA to extend the maturity limit on non-mortgage loans. MCUL is monitoring developments for GSE/housing finance reform and will advocate to make sure any reforms reflect the significant role credit unions play in the secondary mortgage market and we will defend against anything that is potentially harmful to credit unions and our members. MCUL is calling on Congress to pass bank secrecy act/anti-money laundering reforms and provide financial institutions relief from unnecessary, duplicate and burdensome rules and increase the SAR and CTR thresholds. MCUL is educating members of our congressional delegation on the growing interest among credit union members and credit unions in cryptocurrency. We believe Congress should explore ways to regulate the delivery of financial services using digital currencies to ensure consumers are protected in the same way if they received financial services from a financial institution. We urge Congress to look for ways to enable credit unions and other financial institutions to provide digital assets, so that these services can be properly overseen by federal regulators. Finally, credit unions seek parity with other financial institutions in this area as credit unions must be able to offer digital/crypto products and services directly to their members in the same way that other institutions can to their customers. MCUL is urging Congress to amend H.R. 4766, the Clarity for Payment Stablecoins Act of 2023, to remove current competitive barriers for credit unions in stablecoin legislation. MCUL remains opposed to a proposal by the U.S. Treasury Department and that has been discussed in Congress that would require financial institutions to report on an annual basis, the gross inflows and outflows, for member accounts (businesses and individuals). We have been educating our congressional delegation on the issue and urging them to reject including the proposal in future legislation. MCUL opposes H.R. 9303/S.4943, the Protecting Consumers from Payment Scams Act of 2024 provided the bill fails to tackle the root causes of criminal activity that have left consumers vulnerable to fraud/scams, does not provide resources to improve consumer education about fraud/scams and would impose severe costs on credit unions and dramatically alter their ability to absorb future loses. Lastly, credit unions are not-for-profit member-owned financial institutions, owned by members they service. Credit unions consumer-focused model is self-regulating and a principal reason why credit unions are not covered by the Community Reinvestment Act (CRA). MCUL will educate members of the delegation of the work credit unions are doing to serve low/moderate-income, diverse communities and the negative impacts of including credit unions in the CRA. We will oppose efforts that would result in credit unions of any size being included in the CRA.

Lapses by the retail industry/merchants in securing consumer information continue to be extremely problematic and costly to consumers and financial institutions. MCUL is advocating that Congress hold retailers to the same or similar data security standards as the financial service industry has to abide by and require retailers notify credit unions sooner once a breach occurs. We support the introduction of legislation that ensures all businesses, institutions and organizations that collect, use or share personal data are subject to national standards, to include language that preempts state requirements, among other things. MCUL supports modernizing the Federal Credit Union Act (FCUA). The financial service industry is rapidly changing. Advancements in technology, including high speed internet connectivity, have significantly changed our society and how financial institutions do business. Updating the FCUA has become necessary to ensure federally chartered credit unions have the powers and flexibility to be competitive and members can benefit from new technology. We are currently supporting S. 539/H.R.4867, the Veterans Member Business Loan Act that would exempt credit union business loans to veterans from the member business lending cap and we are supporting H.R. 582/S.610, the Credit Union Board Modernization Act which would afford federal credit unions flexibility with regard to how often their boards meet. In addition, we are calling on Congress to pass H.R. 4868, the Member Business Loan Expansion Act, allowing the NCUA to extend the maturity limit on non-mortgage loans. MCUL is monitoring developments for GSE/housing finance reform and will advocate to make sure any reforms reflect the significant role credit unions play in the secondary mortgage market and we will defend against anything that is potentially harmful to credit unions and our members. MCUL is calling on Congress to pass bank secrecy act/anti-money laundering reforms and provide financial institutions relief from unnecessary, duplicate and burdensome rules and increase the SAR and CTR thresholds. MCUL is educating members of our congressional delegation on the growing interest among credit union members and credit unions in cryptocurrency. We believe Congress should explore ways to regulate the delivery of financial services using digital currencies to ensure consumers are protected in the same way if they received financial services from a financial institution. We urge Congress to look for ways to enable credit unions and other financial institutions to provide digital assets, so that these services can be properly overseen by federal regulators. Finally, credit unions seek parity with other financial institutions in this area as credit unions must be able to offer digital/crypto products and services directly to their members in the same way that other institutions can to their customers. MCUL is urging Congress to amend H.R. 4766, the Clarity for Payment Stablecoins Act of 2023, to remove current competitive barriers for credit unions in stablecoin legislation. MCUL remains opposed to a proposal by the U.S. Treasury Department and that has been discussed in Congress that would require financial institutions to report on an annual basis, the gross inflows and outflows, for member accounts (businesses and individuals). We have been educating our congressional delegation on the issue and urging them to reject including the proposal in future legislation. Lastly, credit unions are not-for-profit member-owned financial institutions, owned by members they service. Credit unions consumer-focused model is self-regulating and a principal reason why credit unions are not covered by the Community Reinvestment Act (CRA). MCUL will educate members of the delegation of the work credit unions are doing to serve low/moderate-income, diverse communities and the negative impacts of including credit unions in the CRA. We will oppose efforts that would result in credit unions of any size being included in the CRA.

Lapses by the retail industry/merchants in securing consumer information continue to be extremely problematic and costly to consumers and financial institutions. MCUL is advocating that Congress hold retailers to the same or similar data security standards as the financial service industry has to abide by and require retailers notify credit unions sooner once a breach occurs. We support the introduction of legislation that ensures all businesses, institutions and organizations that collect, use or share personal data are subject to national standards, to include language that preempts state requirements, among other things. MCUL supports modernizing the Federal Credit Union Act (FCUA). The financial service industry is rapidly changing. Advancements in technology, including high speed internet connectivity, have significantly changed our society and how financial institutions do business. Updating the FCUA has become necessary to ensure federally chartered credit unions have the powers and flexibility to be competitive and members can benefit from new technology. We are currently supporting S. 539/H.R.4867, the Veterans Member Business Loan Act that would exempt credit union business loans to veterans from the member business lending cap and we are supporting H.R. 582/S.610, the Credit Union Board Modernization Act which would afford federal credit unions flexibility with regard to how often their boards meet. In addition, we are calling on Congress to pass H.R. 4868, the Member Business Loan Expansion Act, allowing the NCUA to extend the maturity limit on non-mortgage loans. MCUL is monitoring developments for GSE/housing finance reform and will advocate to make sure any reforms reflect the significant role credit unions play in the secondary mortgage market and we will defend against anything that is potentially harmful to credit unions and our members. MCUL is calling on Congress to pass bank secrecy act/anti-money laundering reforms and provide financial institutions relief from unnecessary, duplicate and burdensome rules and increase the SAR and CTR thresholds. MCUL is educating members of our congressional delegation on the growing interest among credit union members and credit unions in cryptocurrency. We believe Congress should explore ways to regulate the delivery of financial services using digital currencies to ensure consumers are protected in the same way if they received financial services from a financial institution. We urge Congress to look for ways to enable credit unions and other financial institutions to provide digital assets, so that these services can be properly overseen by federal regulators. Finally, credit unions seek parity with other financial institutions in this area as credit unions must be able to offer digital/crypto products and services directly to their members in the same way that other institutions can to their customers. MCUL is urging Congress to amend H.R. 4766, the Clarity for Payment Stablecoins Act of 2023, to remove current competitive barriers for credit unions in stablecoin legislation. MCUL remains opposed to a proposal by the U.S. Treasury Department and that has been discussed in Congress that would require financial institutions to report on an annual basis, the gross inflows and outflows, for member accounts (businesses and individuals). We have been educating our congressional delegation on the issue and urging them to reject including the proposal in future legislation. Lastly, credit unions are not-for-profit member-owned financial institutions, owned by members they service. Credit unions consumer-focused model is self-regulating and a principal reason why credit unions are not covered by the Community Reinvestment Act (CRA). MCUL will educate members of the delegation of the work credit unions are doing to serve low/moderate-income, diverse communities and the negative impacts of including credit unions in the CRA. We will oppose efforts that would result in credit unions of any size being included in the CRA.

Lapses by the retail industry/merchants in securing consumer information continue to be extremely problematic and costly to consumers and financial institutions. MCUL is advocating that Congress hold retailers to the same or similar data security standards as the financial service industry has to abide by and require retailers notify credit unions sooner once a breach occurs. We support the introduction of legislation that ensures all businesses, institutions and organizations that collect, use or share personal data are subject to national standards, to include language that preempts state requirements, among other things. MCUL supports modernizing the Federal Credit Union Act (FCUA). The financial service industry is rapidly changing. Advancements in technology, including high speed internet connectivity, have significantly changed our society and how financial institutions do business. Updating the FCUA has become necessary to ensure federally chartered credit unions have the powers and flexibility to be competitive and members can benefit from new technology. We are currently supporting S. 539/H.R.4867, the Veterans Member Business Loan Act that would exempt credit union business loans to veterans from the member business lending cap and we are supporting H.R. 582/S.610, the Credit Union Board Modernization Act which would afford federal credit unions flexibility with regard to how often their boards meet. In addition, we are calling on Congress to pass H.R. 4868, the Member Business Loan Expansion Act, allowing the NCUA to extend the maturity limit on non-mortgage loans. MCUL is monitoring developments for GSE/housing finance reform and will advocate to make sure any reforms reflect the significant role credit unions play in the secondary mortgage market and we will defend against anything that is potentially harmful to credit unions and our members. MCUL is calling on Congress to pass bank secrecy act/anti-money laundering reforms and provide financial institutions relief from unnecessary, duplicate and burdensome rules and increase the SAR and CTR thresholds. MCUL is educating members of our congressional delegation on the growing interest among credit union members and credit unions in cryptocurrency. We believe Congress should explore ways to regulate the delivery of financial services using digital currencies to ensure consumers are protected in the same way if they received financial services from a financial institution. We urge Congress to look for ways to enable credit unions and other financial institutions to provide digital assets, so that these services can be properly overseen by federal regulators. Finally, credit unions seek parity with other financial institutions in this area as credit unions must be able to offer digital/crypto products and services directly to their members in the same way that other institutions can to their customers. MCUL is urging Congress to amend H.R. 4766, the Clarity for Payment Stablecoins Act of 2023, to remove current competitive barriers for credit unions in stablecoin legislation. MCUL remains opposed to a proposal by the U.S. Treasury Department and that has been discussed in Congress that would require financial institutions to report on an annual basis, the gross inflows and outflows, for member accounts (businesses and individuals). We have been educating our congressional delegation on the issue and urging them to reject including the proposal in future legislation. MCUL opposes H.R. 9303/S.4943, the Protecting Consumers from Payment Scams Act of 2024 provided the bill fails to tackle the root causes of criminal activity that have left consumers vulnerable to fraud/scams, does not provide resources to improve consumer education about fraud/scams and would impose severe costs on credit unions and dramatically alter their ability to absorb future loses. Lastly, credit unions are not-for-profit member-owned financial institutions, owned by members they service. Credit unions consumer-focused model is self-regulating and a principal reason why credit unions are not covered by the Community Reinvestment Act (CRA). MCUL will educate members of the delegation of the work credit unions are doing to serve low/moderate-income, diverse communities and the negative impacts of including credit unions in the CRA. We will oppose efforts that would result in credit unions of any size being included in the CRA.

Lapses by the retail industry/merchants in securing consumer information continue to be extremely problematic and costly to consumers and financial institutions. MCUL is advocating that Congress hold retailers to the same or similar data security standards as the financial service industry has to abide by and require retailers notify credit unions sooner once a breach occurs. We support the introduction of legislation that ensures all businesses, institutions and organizations that collect, use or share personal data are subject to national standards, to include language that preempts state requirements, among other things. MCUL supports modernizing the Federal Credit Union Act (FCUA). The financial service industry is rapidly changing. Advancements in technology, including high speed internet connectivity, have significantly changed our society and how financial institutions do business. Updating the FCUA has become necessary to ensure federally chartered credit unions have the powers and flexibility to be competitive and members can benefit from new technology. We are currently supporting S. 539/H.R.4867, the Veterans Member Business Loan Act that would exempt credit union business loans to veterans from the member business lending cap and we are supporting H.R. 582/S.610, the Credit Union Board Modernization Act which would afford federal credit unions flexibility with regard to how often their boards meet. In addition, we are calling on Congress to pass H.R. 4868, the Member Business Loan Expansion Act, allowing the NCUA to extend the maturity limit on non-mortgage loans. MCUL is monitoring developments for GSE/housing finance reform and will advocate to make sure any reforms reflect the significant role credit unions play in the secondary mortgage market and we will defend against anything that is potentially harmful to credit unions and our members. MCUL is calling on Congress to pass bank secrecy act/anti-money laundering reforms and provide financial institutions relief from unnecessary, duplicate and burdensome rules and increase the SAR and CTR thresholds. MCUL is educating members of our congressional delegation on the growing interest among credit union members and credit unions in cryptocurrency. We believe Congress should explore ways to regulate the delivery of financial services using digital currencies to ensure consumers are protected in the same way if they received financial services from a financial institution. We urge Congress to look for ways to enable credit unions and other financial institutions to provide digital assets, so that these services can be properly overseen by federal regulators. Finally, credit unions seek parity with other financial institutions in this area as credit unions must be able to offer digital/crypto products and services directly to their members in the same way that other institutions can to their customers. MCUL is urging Congress to amend H.R. 4766, the Clarity for Payment Stablecoins Act of 2023, to remove current competitive barriers for credit unions in stablecoin legislation. MCUL remains opposed to a proposal by the U.S. Treasury Department and that has been discussed in Congress that would require financial institutions to report on an annual basis, the gross inflows and outflows, for member accounts (businesses and individuals). We have been educating our congressional delegation on the issue and urging them to reject including the proposal in future legislation. MCUL opposes H.R. 9303/S.4943, the Protecting Consumers from Payment Scams Act of 2024 provided the bill fails to tackle the root causes of criminal activity that have left consumers vulnerable to fraud/scams, does not provide resources to improve consumer education about fraud/scams and would impose severe costs on credit unions and dramatically alter their ability to absorb future loses. Lastly, credit unions are not-for-profit member-owned financial institutions, owned by members they service. Credit unions consumer-focused model is self-regulating and a principal reason why credit unions are not covered by the Community Reinvestment Act (CRA). MCUL will educate members of the delegation of the work credit unions are doing to serve low/moderate-income, diverse communities and the negative impacts of including credit unions in the CRA. We will oppose efforts that would result in credit unions of any size being included in the CRA.

While MCUL takes no position on the issue of cannabis legalization, it supports the SAFE Banking Act, H.R. 2891/S.1323 and newly introduced legislation, the SAFER Banking Act, S.2860, that would provide a safe harbor for financial institutions to serve their members needs in states where cannabis use has become legal. We are urging our congressional delegation to support S. 2860 and work with leadership to pass it. 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 S.1838/H.R. 3881, the Credit Card Competition Act of 2023 and help us ensure the bill does not pass. 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 services to our members. MCUL supports and is calling for passage of H.R. 1059/S.1212, the SECURE Notarization Act that would establish minimum standards for electronic and remote notarization. The bill passed the U.S. House on 2/27/23 and we are urging the U.S. Senate to take it up and pass the bill. We are also educating our delegation on the importance of updating the 20 year old E-sign Act to better reflect how customers can signal their acceptance of electronic transactions. MCUL is monitoring actions by Congress related to recent failures of banks and communicating with Michigan congressional offices that credit unions are structured different from other financial institutions are not part of these failures, credit unions were not part of the banking problems that led to Dodd-Frank in 2010 and therefore any legislation from Congress that seeks to address the problems at the banks should not place added burdens on credit unions. MCUL is urging members of the delegation to co-sponsor S. 544, to provide a 3-year extension of CARES Act provisions related to the Central Liquidity Facility (CLF).

While MCUL takes no position on the issue of cannabis legalization, it supports the SAFE Banking Act, H.R. 2891/S.1323 and newly introduced legislation, the SAFER Banking Act, S.2860, that would provide a safe harbor for financial institutions to serve their members needs in states where cannabis use has become legal. We are urging our congressional delegation to support S. 2860 and work with leadership to pass it. 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 S.1838/H.R. 3881, the Credit Card Competition Act of 2023 and help us ensure the bill does not pass. 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 services to our members. MCUL supports and is calling for passage of H.R. 1059/S.1212, the SECURE Notarization Act that would establish minimum standards for electronic and remote notarization. The bill passed the U.S. House on 2/27/23 and we are urging the U.S. Senate to take it up and pass the bill. We are also educating our delegation on the importance of updating the 20 year old E-sign Act to better reflect how customers can signal their acceptance of electronic transactions. MCUL is monitoring actions by Congress related to recent failures of banks and communicating with Michigan congressional offices that credit unions are structured different from other financial institutions are not part of these failures, credit unions were not part of the banking problems that led to Dodd-Frank in 2010 and therefore any legislation from Congress that seeks to address the problems at the banks should not place added burdens on credit unions. MCUL is urging members of the delegation to co-sponsor S. 544, to provide a 3-year extension of CARES Act provisions related to the Central Liquidity Facility (CLF).

While MCUL takes no position on the issue of cannabis legalization, it supports the SAFE Banking Act, H.R. 2891/S.1323 and newly introduced legislation, the SAFER Banking Act, S.2860, that would provide a safe harbor for financial institutions to serve their members needs in states where cannabis use has become legal. We are urging our congressional delegation to support S. 2860 and work with leadership to pass it. 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 S.1838/H.R. 3881, the Credit Card Competition Act of 2023 and help us ensure the bill does not pass. 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 services to our members. MCUL supports and is calling for passage of H.R. 1059/S.1212, the SECURE Notarization Act that would establish minimum standards for electronic and remote notarization. The bill passed the U.S. House on 2/27/23 and we are urging the U.S. Senate to take it up and pass the bill. We are also educating our delegation on the importance of updating the 20 year old E-sign Act to better reflect how customers can signal their acceptance of electronic transactions. MCUL is monitoring actions by Congress related to recent failures of banks and communicating with Michigan congressional offices that credit unions are structured different from other financial institutions are not part of these failures, credit unions were not part of the banking problems that led to Dodd-Frank in 2010 and therefore any legislation from Congress that seeks to address the problems at the banks should not place added burdens on credit unions. MCUL is urging members of the delegation to co-sponsor S. 544, to provide a 3-year extension of CARES Act provisions related to the Central Liquidity Facility (CLF).

While MCUL takes no position on the issue of cannabis legalization, it supports the SAFE Banking Act, H.R. 2891/S.1323 and newly introduced legislation, the SAFER Banking Act, S.2860, that would provide a safe harbor for financial institutions to serve their members needs in states where cannabis use has become legal. We are urging our congressional delegation to support S. 2860 and work with leadership to pass it. 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 S.1838/H.R. 3881, the Credit Card Competition Act of 2023 and help us ensure the bill does not pass. 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 services to our members. MCUL supports and is calling for passage of H.R. 1059/S.1212, the SECURE Notarization Act that would establish minimum standards for electronic and remote notarization. The bill passed the U.S. House on 2/27/23 and we are urging the U.S. Senate to take it up and pass the bill. We are also educating our delegation on the importance of updating the 20 year old E-sign Act to better reflect how customers can signal their acceptance of electronic transactions. MCUL is monitoring actions by Congress related to recent failures of banks and communicating with Michigan congressional offices that credit unions are structured different from other financial institutions are not part of these failures, credit unions were not part of the banking problems that led to Dodd-Frank in 2010 and therefore any legislation from Congress that seeks to address the problems at the banks should not place added burdens on credit unions. MCUL is urging members of the delegation to co-sponsor S. 544, to provide a 3-year extension of CARES Act provisions related to the Central Liquidity Facility (CLF).

While MCUL takes no position on the issue of cannabis legalization, it supports the SAFE Banking Act, H.R. 2891/S.1323 and newly introduced legislation, the SAFER Banking Act, S.2860, that would provide a safe harbor for financial institutions to serve their members needs in states where cannabis use has become legal. We are urging our congressional delegation to support S. 2860 and work with leadership to pass it. 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 S.1838/H.R. 3881, the Credit Card Competition Act of 2023 and help us ensure the bill does not pass. 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 services to our members. MCUL supports and is calling for passage of H.R. 1059/S.1212, the SECURE Notarization Act that would establish minimum standards for electronic and remote notarization. The bill passed the U.S. House on 2/27/23 and we are urging the U.S. Senate to take it up and pass the bill. We are also educating our delegation on the importance of updating the 20 year old E-sign Act to better reflect how customers can signal their acceptance of electronic transactions. MCUL is monitoring actions by Congress related to recent failures of banks and communicating with Michigan congressional offices that credit unions are structured different from other financial institutions are not part of these failures, credit unions were not part of the banking problems that led to Dodd-Frank in 2010 and therefore any legislation from Congress that seeks to address the problems at the banks should not place added burdens on credit unions. MCUL is urging members of the delegation to co-sponsor S. 544, to provide a 3-year extension of CARES Act provisions related to the Central Liquidity Facility (CLF).

While MCUL takes no position on the issue of cannabis legalization, it supports the SAFE Banking Act, H.R. 2891/S.1323 and newly introduced legislation, the SAFER Banking Act, S.2860, that would provide a safe harbor for financial institutions to serve their members needs in states where cannabis use has become legal. We are urging our congressional delegation to support S. 2860 and work with leadership to pass it. 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 S.1838/H.R. 3881, the Credit Card Competition Act of 2023 and help us ensure the bill does not pass. 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 services to our members. MCUL supports and is calling for passage of H.R. 1059/S.1212, the SECURE Notarization Act that would establish minimum standards for electronic and remote notarization. The bill passed the U.S. House on 2/27/23 and we are urging the U.S. Senate to take it up and pass the bill. We are also educating our delegation on the importance of updating the 20 year old E-sign Act to better reflect how customers can signal their acceptance of electronic transactions. MCUL is monitoring actions by Congress related to recent failures of banks and communicating with Michigan congressional offices that credit unions are structured different from other financial institutions are not part of these failures, credit unions were not part of the banking problems that led to Dodd-Frank in 2010 and therefore any legislation from Congress that seeks to address the problems at the banks should not place added burdens on credit unions. MCUL is urging members of the delegation to co-sponsor S. 544, to provide a 3-year extension of CARES Act provisions related to the Central Liquidity Facility (CLF).

While MCUL takes no position on the issue of cannabis legalization, it supports the SAFE Banking Act, H.R. 2891/S.1323 and newly introduced legislation, the SAFER Banking Act, S.2860, that would provide a safe harbor for financial institutions to serve their members needs in states where cannabis use has become legal. We are urging our congressional delegation to support S. 2860 and work with leadership to pass it. 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 S.1838/H.R. 3881, the Credit Card Competition Act of 2023 and help us ensure the bill does not pass. 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 services to our members. MCUL supports and is calling for passage of H.R. 1059/S.1212, the SECURE Notarization Act that would establish minimum standards for electronic and remote notarization. The bill passed the U.S. House on 2/27/23 and we are urging the U.S. Senate to take it up and pass the bill. We are also educating our delegation on the importance of updating the 20 year old E-sign Act to better reflect how customers can signal their acceptance of electronic transactions. MCUL is monitoring actions by Congress related to recent failures of banks and communicating with Michigan congressional offices that credit unions are structured different from other financial institutions are not part of these failures, credit unions were not part of the banking problems that led to Dodd-Frank in 2010 and therefore any legislation from Congress that seeks to address the problems at the banks should not place added burdens on credit unions. MCUL is urging members of the delegation to co-sponsor S. 544, to provide a 3-year extension of CARES Act provisions related to the Central Liquidity Facility (CLF).

While MCUL takes no position on the issue of cannabis legalization, it supports the SAFE Banking Act, H.R. 2891/S.1323 and newly introduced legislation, the SAFER Banking Act, S.2860, that would provide a safe harbor for financial institutions to serve their members needs in states where cannabis use has become legal. We are urging our congressional delegation to support S. 2860 and work with leadership to pass it. 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 S.1838/H.R. 3881, the Credit Card Competition Act of 2023 and help us ensure the bill does not pass. 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 services to our members. MCUL supports and is calling for passage of H.R. 1059/S.1212, the SECURE Notarization Act that would establish minimum standards for electronic and remote notarization. The bill passed the U.S. House on 2/27/23 and we are urging the U.S. Senate to take it up and pass the bill. We are also educating our delegation on the importance of updating the 20 year old E-sign Act to better reflect how customers can signal their acceptance of electronic transactions. MCUL is monitoring actions by Congress related to recent failures of banks and communicating with Michigan congressional offices that credit unions are structured different from other financial institutions are not part of these failures, credit unions were not part of the banking problems that led to Dodd-Frank in 2010 and therefore any legislation from Congress that seeks to address the problems at the banks should not place added burdens on credit unions. MCUL is urging members of the delegation to co-sponsor S. 544, to provide a 3-year extension of CARES Act provisions related to the Central Liquidity Facility (CLF).

While MCUL takes no position on the issue of cannabis legalization, it supports the SAFE Banking Act, H.R. 2891/S.1323 and newly introduced legislation, the SAFER Banking Act, S.2860, that would provide a safe harbor for financial institutions to serve their members needs in states where cannabis use has become legal. We are urging our congressional delegation to support S. 2860 and work with leadership to pass it. 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 S.1838/H.R. 3881, the Credit Card Competition Act of 2023 and help us ensure the bill does not pass. 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 services to our members. MCUL supports and is calling for passage of H.R. 1059/S.1212, the SECURE Notarization Act that would establish minimum standards for electronic and remote notarization. The bill passed the U.S. House on 2/27/23 and we are urging the U.S. Senate to take it up and pass the bill. We are also educating our delegation on the importance of updating the 20 year old E-sign Act to better reflect how customers can signal their acceptance of electronic transactions. MCUL is monitoring actions by Congress related to recent failures of banks and communicating with Michigan congressional offices that credit unions are structured different from other financial institutions are not part of these failures, credit unions were not part of the banking problems that led to Dodd-Frank in 2010 and therefore any legislation from Congress that seeks to address the problems at the banks should not place added burdens on credit unions. MCUL is urging members of the delegation to co-sponsor S. 544, to provide a 3-year extension of CARES Act provisions related to the Central Liquidity Facility (CLF).

While MCUL takes no position on the issue of cannabis legalization, it supports the SAFE Banking Act, H.R. 2891/S.1323 and newly introduced legislation, the SAFER Banking Act, S.2860, that would provide a safe harbor for financial institutions to serve their members needs in states where cannabis use has become legal. We are urging our congressional delegation to support S. 2860 and work with leadership to pass it. 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 S.1838/H.R. 3881, the Credit Card Competition Act of 2023 and help us ensure the bill does not pass. 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 services to our members. MCUL supports and is calling for passage of H.R. 1059/S.1212, the SECURE Notarization Act that would establish minimum standards for electronic and remote notarization. The bill passed the U.S. House on 2/27/23 and we are urging the U.S. Senate to take it up and pass the bill. We are also educating our delegation on the importance of updating the 20 year old E-sign Act to better reflect how customers can signal their acceptance of electronic transactions. MCUL is monitoring actions by Congress related to recent failures of banks and communicating with Michigan congressional offices that credit unions are structured different from other financial institutions are not part of these failures, credit unions were not part of the banking problems that led to Dodd-Frank in 2010 and therefore any legislation from Congress that seeks to address the problems at the banks should not place added burdens on credit unions. MCUL is urging members of the delegation to co-sponsor S. 544, to provide a 3-year extension of CARES Act provisions related to the Central Liquidity Facility (CLF).

While MCUL takes no position on the issue of cannabis legalization, it supports the SAFE Banking Act, H.R. 2891/S.1323 and newly introduced legislation, the SAFER Banking Act, S.2860, that would provide a safe harbor for financial institutions to serve their members needs in states where cannabis use has become legal. We are urging our congressional delegation to support S. 2860 and work with leadership to pass it. 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 S.1838/H.R. 3881, the Credit Card Competition Act of 2023 and help us ensure the bill does not pass. 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 services to our members. MCUL supports and is calling for passage of H.R. 1059/S.1212, the SECURE Notarization Act that would establish minimum standards for electronic and remote notarization. The bill passed the U.S. House on 2/27/23 and we are urging the U.S. Senate to take it up and pass the bill. We are also educating our delegation on the importance of updating the 20 year old E-sign Act to better reflect how customers can signal their acceptance of electronic transactions. MCUL is monitoring actions by Congress related to recent failures of banks and communicating with Michigan congressional offices that credit unions are structured different from other financial institutions are not part of these failures, credit unions were not part of the banking problems that led to Dodd-Frank in 2010 and therefore any legislation from Congress that seeks to address the problems at the banks should not place added burdens on credit unions. MCUL is urging members of the delegation to co-sponsor S. 544, to provide a 3-year extension of CARES Act provisions related to the Central Liquidity Facility (CLF).

While MCUL takes no position on the issue of cannabis legalization, it supports the SAFE Banking Act, H.R. 2891/S.1323 and newly introduced legislation, the SAFER Banking Act, S.2860, that would provide a safe harbor for financial institutions to serve their members needs in states where cannabis use has become legal. We are urging our congressional delegation to support S. 2860 and work with leadership to pass it. 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 S.1838/H.R. 3881, the Credit Card Competition Act of 2023 and help us ensure the bill does not pass. 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 services to our members. MCUL supports and is calling for passage of H.R. 1059/S.1212, the SECURE Notarization Act that would establish minimum standards for electronic and remote notarization. The bill passed the U.S. House on 2/27/23 and we are urging the U.S. Senate to take it up and pass the bill. We are also educating our delegation on the importance of updating the 20 year old E-sign Act to better reflect how customers can signal their acceptance of electronic transactions. MCUL is monitoring actions by Congress related to recent failures of banks and communicating with Michigan congressional offices that credit unions are structured different from other financial institutions are not part of these failures, credit unions were not part of the banking problems that led to Dodd-Frank in 2010 and therefore any legislation from Congress that seeks to address the problems at the banks should not place added burdens on credit unions. MCUL is urging members of the delegation to co-sponsor S. 544, to provide a 3-year extension of CARES Act provisions related to the Central Liquidity Facility (CLF).

While MCUL takes no position on the issue of cannabis legalization, it supports the SAFE Banking Act, H.R. 2891/S.1323 and newly introduced legislation, the SAFER Banking Act, S.2860, that would provide a safe harbor for financial institutions to serve their members needs in states where cannabis use has become legal. We are urging our congressional delegation to support S. 2860 and work with leadership to pass it. 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 S.1838/H.R. 3881, the Credit Card Competition Act of 2023 and help us ensure the bill does not pass. 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 services to our members. MCUL supports and is calling for passage of H.R. 1059/S.1212, the SECURE Notarization Act that would establish minimum standards for electronic and remote notarization. The bill passed the U.S. House on 2/27/23 and we are urging the U.S. Senate to take it up and pass the bill. We are also educating our delegation on the importance of updating the 20 year old E-sign Act to better reflect how customers can signal their acceptance of electronic transactions. MCUL is monitoring actions by Congress related to recent failures of banks and communicating with Michigan congressional offices that credit unions are structured different from other financial institutions are not part of these failures, credit unions were not part of the banking problems that led to Dodd-Frank in 2010 and therefore any legislation from Congress that seeks to address the problems at the banks should not place added burdens on credit unions. MCUL is urging members of the delegation to co-sponsor S. 544, to provide a 3-year extension of CARES Act provisions related to the Central Liquidity Facility (CLF).

While MCUL takes no position on the issue of cannabis legalization, it supports the SAFE Banking Act, H.R. 2891/S.1323 and newly introduced legislation, the SAFER Banking Act, S.2860, that would provide a safe harbor for financial institutions to serve their members needs in states where cannabis use has become legal. We are urging our congressional delegation to support S. 2860 and work with leadership to pass it. 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 S.1838/H.R. 3881, the Credit Card Competition Act of 2023 and help us ensure the bill does not pass. 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 services to our members. MCUL supports and is calling for passage of H.R. 1059/S.1212, the SECURE Notarization Act that would establish minimum standards for electronic and remote notarization. The bill passed the U.S. House on 2/27/23 and we are urging the U.S. Senate to take it up and pass the bill. We are also educating our delegation on the importance of updating the 20 year old E-sign Act to better reflect how customers can signal their acceptance of electronic transactions. MCUL is monitoring actions by Congress related to recent failures of banks and communicating with Michigan congressional offices that credit unions are structured different from other financial institutions are not part of these failures, credit unions were not part of the banking problems that led to Dodd-Frank in 2010 and therefore any legislation from Congress that seeks to address the problems at the banks should not place added burdens on credit unions. MCUL is urging members of the delegation to co-sponsor S. 544, to provide a 3-year extension of CARES Act provisions related to the Central Liquidity Facility (CLF).

While MCUL takes no position on the issue of cannabis legalization, it supports the SAFE Banking Act, H.R. 2891/S.1323 and newly introduced legislation, the SAFER Banking Act, S.2860, that would provide a safe harbor for financial institutions to serve their members needs in states where cannabis use has become legal. We are urging our congressional delegation to support S. 2860 and work with leadership to pass it. 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 S.1838/H.R. 3881, the Credit Card Competition Act of 2023 and help us ensure the bill does not pass. 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 services to our members. MCUL supports and is calling for passage of H.R. 1059/S.1212, the SECURE Notarization Act that would establish minimum standards for electronic and remote notarization. The bill passed the U.S. House on 2/27/23 and we are urging the U.S. Senate to take it up and pass the bill. We are also educating our delegation on the importance of updating the 20 year old E-sign Act to better reflect how customers can signal their acceptance of electronic transactions. MCUL is monitoring actions by Congress related to recent failures of banks and communicating with Michigan congressional offices that credit unions are structured different from other financial institutions are not part of these failures, credit unions were not part of the banking problems that led to Dodd-Frank in 2010 and therefore any legislation from Congress that seeks to address the problems at the banks should not place added burdens on credit unions. MCUL is urging members of the delegation to co-sponsor S. 544, to provide a 3-year extension of CARES Act provisions related to the Central Liquidity Facility (CLF).

While MCUL takes no position on the issue of cannabis legalization, it supports the SAFE Banking Act, H.R. 2891/S.1323 and newly introduced legislation, the SAFER Banking Act, S.2860, that would provide a safe harbor for financial institutions to serve their members needs in states where cannabis use has become legal. We are urging our congressional delegation to support S. 2860 and work with leadership to pass it. 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 S.1838/H.R. 3881, the Credit Card Competition Act of 2023 and help us ensure the bill does not pass. 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 services to our members. MCUL supports and is calling for passage of H.R. 1059/S.1212, the SECURE Notarization Act that would establish minimum standards for electronic and remote notarization. The bill passed the U.S. House on 2/27/23 and we are urging the U.S. Senate to take it up and pass the bill. We are also educating our delegation on the importance of updating the 20 year old E-sign Act to better reflect how customers can signal their acceptance of electronic transactions. MCUL is monitoring actions by Congress related to recent failures of banks and communicating with Michigan congressional offices that credit unions are structured different from other financial institutions are not part of these failures, credit unions were not part of the banking problems that led to Dodd-Frank in 2010 and therefore any legislation from Congress that seeks to address the problems at the banks should not place added burdens on credit unions. MCUL is urging members of the delegation to co-sponsor S. 544, to provide a 3-year extension of CARES Act provisions related to the Central Liquidity Facility (CLF).

Lapses by the retail industry/merchants in securing consumer information continue to be extremely problematic and costly to consumers and financial institutions. MCUL is advocating that Congress hold retailers to the same or similar data security standards as the financial service industry has to abide by and require retailers notify credit unions sooner once a breach occurs. We support the introduction of legislation that ensures all businesses, institutions and organizations that collect, use or share personal data are subject to national standards, to include language that preempts state requirements, among other things. MCUL supports modernizing the Federal Credit Union Act (FCUA). The financial service industry is rapidly changing. Advancements in technology, including high speed internet connectivity, have significantly changed our society and how financial institutions do business. Updating the FCUA has become necessary to ensure federally chartered credit unions have the powers and flexibility to be competitive and members can benefit from new technology. We are currently supporting S. 539/H.R.4867, the Veterans Member Business Loan Act that would exempt credit union business loans to veterans from the member business lending cap and we are supporting H.R. 582/S.610, the Credit Union Board Modernization Act which would afford federal credit unions flexibility with regard to how often their boards meet. In addition, we are calling on Congress to pass H.R. 4868, the Member Business Loan Expansion Act, allowing the NCUA to extend the maturity limit on non-mortgage loans. MCUL is monitoring developments for GSE/housing finance reform and will advocate to make sure any reforms reflect the significant role credit unions play in the secondary mortgage market and we will defend against anything that is potentially harmful to credit unions and our members. MCUL is calling on Congress to pass bank secrecy act/anti-money laundering reforms and provide financial institutions relief from unnecessary, duplicate and burdensome rules and increase the SAR and CTR thresholds. MCUL is educating members of our congressional delegation on the growing interest among credit union members and credit unions in cryptocurrency. We believe Congress should explore ways to regulate the delivery of financial services using digital currencies to ensure consumers are protected in the same way if they received financial services from a financial institution. We urge Congress to look for ways to enable credit unions and other financial institutions to provide digital assets, so that these services can be properly overseen by federal regulators. Finally, credit unions seek parity with other financial institutions in this area as credit unions must be able to offer digital/crypto products and services directly to their members in the same way that other institutions can to their customers. MCUL is urging Congress to amend H.R. 4766, the Clarity for Payment Stablecoins Act of 2023, to remove current competitive barriers for credit unions in stablecoin legislation. MCUL remains opposed to a proposal by the U.S. Treasury Department and that has been discussed in Congress that would require financial institutions to report on an annual basis, the gross inflows and outflows, for member accounts (businesses and individuals). We have been educating our congressional delegation on the issue and urging them to reject including the proposal in future legislation. MCUL opposes H.R. 9303/S.4943, the Protecting Consumers from Payment Scams Act of 2024 provided the bill fails to tackle the root causes of criminal activity that have left consumers vulnerable to fraud/scams, does not provide resources to improve consumer education about fraud/scams and would impose severe costs on credit unions and dramatically alter their ability to absorb future loses. Lastly, credit unions are not-for-profit member-owned financial institutions, owned by members they service. Credit unions consumer-focused model is self-regulating and a principal reason why credit unions are not covered by the Community Reinvestment Act (CRA). MCUL will educate members of the delegation of the work credit unions are doing to serve low/moderate-income, diverse communities and the negative impacts of including credit unions in the CRA. We will oppose efforts that would result in credit unions of any size being included in the CRA.

Lapses by the retail industry/merchants in securing consumer information continue to be extremely problematic and costly to consumers and financial institutions. MCUL is advocating that Congress hold retailers to the same or similar data security standards as the financial service industry has to abide by and require retailers notify credit unions sooner once a breach occurs. We support the introduction of legislation that ensures all businesses, institutions and organizations that collect, use or share personal data are subject to national standards, to include language that preempts state requirements, among other things. MCUL supports modernizing the Federal Credit Union Act (FCUA). The financial service industry is rapidly changing. Advancements in technology, including high speed internet connectivity, have significantly changed our society and how financial institutions do business. Updating the FCUA has become necessary to ensure federally chartered credit unions have the powers and flexibility to be competitive and members can benefit from new technology. We are currently supporting S. 539/H.R.4867, the Veterans Member Business Loan Act that would exempt credit union business loans to veterans from the member business lending cap and we are supporting H.R. 582/S.610, the Credit Union Board Modernization Act which would afford federal credit unions flexibility with regard to how often their boards meet. In addition, we are calling on Congress to pass H.R. 4868, the Member Business Loan Expansion Act, allowing the NCUA to extend the maturity limit on non-mortgage loans. MCUL is monitoring developments for GSE/housing finance reform and will advocate to make sure any reforms reflect the significant role credit unions play in the secondary mortgage market and we will defend against anything that is potentially harmful to credit unions and our members. MCUL is calling on Congress to pass bank secrecy act/anti-money laundering reforms and provide financial institutions relief from unnecessary, duplicate and burdensome rules and increase the SAR and CTR thresholds. MCUL is educating members of our congressional delegation on the growing interest among credit union members and credit unions in cryptocurrency. We believe Congress should explore ways to regulate the delivery of financial services using digital currencies to ensure consumers are protected in the same way if they received financial services from a financial institution. We urge Congress to look for ways to enable credit unions and other financial institutions to provide digital assets, so that these services can be properly overseen by federal regulators. Finally, credit unions seek parity with other financial institutions in this area as credit unions must be able to offer digital/crypto products and services directly to their members in the same way that other institutions can to their customers. MCUL is urging Congress to amend H.R. 4766, the Clarity for Payment Stablecoins Act of 2023, to remove current competitive barriers for credit unions in stablecoin legislation. MCUL remains opposed to a proposal by the U.S. Treasury Department and that has been discussed in Congress that would require financial institutions to report on an annual basis, the gross inflows and outflows, for member accounts (businesses and individuals). We have been educating our congressional delegation on the issue and urging them to reject including the proposal in future legislation. MCUL opposes H.R. 9303/S.4943, the Protecting Consumers from Payment Scams Act of 2024 provided the bill fails to tackle the root causes of criminal activity that have left consumers vulnerable to fraud/scams, does not provide resources to improve consumer education about fraud/scams and would impose severe costs on credit unions and dramatically alter their ability to absorb future loses. Lastly, credit unions are not-for-profit member-owned financial institutions, owned by members they service. Credit unions consumer-focused model is self-regulating and a principal reason why credit unions are not covered by the Community Reinvestment Act (CRA). MCUL will educate members of the delegation of the work credit unions are doing to serve low/moderate-income, diverse communities and the negative impacts of including credit unions in the CRA. We will oppose efforts that would result in credit unions of any size being included in the CRA.

Lapses by the retail industry/merchants in securing consumer information continue to be extremely problematic and costly to consumers and financial institutions. MCUL is advocating that Congress hold retailers to the same or similar data security standards as the financial service industry has to abide by and require retailers notify credit unions sooner once a breach occurs. We support the introduction of legislation that ensures all businesses, institutions and organizations that collect, use or share personal data are subject to national standards, to include language that preempts state requirements, among other things. MCUL supports modernizing the Federal Credit Union Act (FCUA). The financial service industry is rapidly changing. Advancements in technology, including high speed internet connectivity, have significantly changed our society and how financial institutions do business. Updating the FCUA has become necessary to ensure federally chartered credit unions have the powers and flexibility to be competitive and members can benefit from new technology. We are currently supporting S. 539/H.R.4867, the Veterans Member Business Loan Act that would exempt credit union business loans to veterans from the member business lending cap and we are supporting H.R. 582/S.610, the Credit Union Board Modernization Act which would afford federal credit unions flexibility with regard to how often their boards meet. In addition, we are calling on Congress to pass H.R. 4868, the Member Business Loan Expansion Act, allowing the NCUA to extend the maturity limit on non-mortgage loans. MCUL is monitoring developments for GSE/housing finance reform and will advocate to make sure any reforms reflect the significant role credit unions play in the secondary mortgage market and we will defend against anything that is potentially harmful to credit unions and our members. MCUL is calling on Congress to pass bank secrecy act/anti-money laundering reforms and provide financial institutions relief from unnecessary, duplicate and burdensome rules and increase the SAR and CTR thresholds. MCUL is educating members of our congressional delegation on the growing interest among credit union members and credit unions in cryptocurrency. We believe Congress should explore ways to regulate the delivery of financial services using digital currencies to ensure consumers are protected in the same way if they received financial services from a financial institution. We urge Congress to look for ways to enable credit unions and other financial institutions to provide digital assets, so that these services can be properly overseen by federal regulators. Finally, credit unions seek parity with other financial institutions in this area as credit unions must be able to offer digital/crypto products and services directly to their members in the same way that other institutions can to their customers. MCUL is urging Congress to amend H.R. 4766, the Clarity for Payment Stablecoins Act of 2023, to remove current competitive barriers for credit unions in stablecoin legislation. MCUL remains opposed to a proposal by the U.S. Treasury Department and that has been discussed in Congress that would require financial institutions to report on an annual basis, the gross inflows and outflows, for member accounts (businesses and individuals). We have been educating our congressional delegation on the issue and urging them to reject including the proposal in future legislation. Lastly, credit unions are not-for-profit member-owned financial institutions, owned by members they service. Credit unions consumer-focused model is self-regulating and a principal reason why credit unions are not covered by the Community Reinvestment Act (CRA). MCUL will educate members of the delegation of the work credit unions are doing to serve low/moderate-income, diverse communities and the negative impacts of including credit unions in the CRA. We will oppose efforts that would result in credit unions of any size being included in the CRA.

Lapses by the retail industry/merchants in securing consumer information continue to be extremely problematic and costly to consumers and financial institutions. MCUL is advocating that Congress hold retailers to the same or similar data security standards as the financial service industry has to abide by and require retailers notify credit unions sooner once a breach occurs. We support the introduction of legislation that ensures all businesses, institutions and organizations that collect, use or share personal data are subject to national standards, to include language that preempts state requirements, among other things. MCUL supports modernizing the Federal Credit Union Act (FCUA). The financial service industry is rapidly changing. Advancements in technology, including high speed internet connectivity, have significantly changed our society and how financial institutions do business. Updating the FCUA has become necessary to ensure federally chartered credit unions have the powers and flexibility to be competitive and members can benefit from new technology. We are currently supporting S. 539/H.R.4867, the Veterans Member Business Loan Act that would exempt credit union business loans to veterans from the member business lending cap and we are supporting H.R. 582/S.610, the Credit Union Board Modernization Act which would afford federal credit unions flexibility with regard to how often their boards meet. In addition, we are calling on Congress to pass H.R. 4868, the Member Business Loan Expansion Act, allowing the NCUA to extend the maturity limit on non-mortgage loans. MCUL is monitoring developments for GSE/housing finance reform and will advocate to make sure any reforms reflect the significant role credit unions play in the secondary mortgage market and we will defend against anything that is potentially harmful to credit unions and our members. MCUL is calling on Congress to pass bank secrecy act/anti-money laundering reforms and provide financial institutions relief from unnecessary, duplicate and burdensome rules and increase the SAR and CTR thresholds. MCUL is educating members of our congressional delegation on the growing interest among credit union members and credit unions in cryptocurrency. We believe Congress should explore ways to regulate the delivery of financial services using digital currencies to ensure consumers are protected in the same way if they received financial services from a financial institution. We urge Congress to look for ways to enable credit unions and other financial institutions to provide digital assets, so that these services can be properly overseen by federal regulators. Finally, credit unions seek parity with other financial institutions in this area as credit unions must be able to offer digital/crypto products and services directly to their members in the same way that other institutions can to their customers. MCUL is urging Congress to amend H.R. 4766, the Clarity for Payment Stablecoins Act of 2023, to remove current competitive barriers for credit unions in stablecoin legislation. MCUL remains opposed to a proposal by the U.S. Treasury Department and that has been discussed in Congress that would require financial institutions to report on an annual basis, the gross inflows and outflows, for member accounts (businesses and individuals). We have been educating our congressional delegation on the issue and urging them to reject including the proposal in future legislation. Lastly, credit unions are not-for-profit member-owned financial institutions, owned by members they service. Credit unions consumer-focused model is self-regulating and a principal reason why credit unions are not covered by the Community Reinvestment Act (CRA). MCUL will educate members of the delegation of the work credit unions are doing to serve low/moderate-income, diverse communities and the negative impacts of including credit unions in the CRA. We will oppose efforts that would result in credit unions of any size being included in the CRA.

Lapses by the retail industry/merchants in securing consumer information continue to be extremely problematic and costly to consumers and financial institutions. MCUL is advocating that Congress hold retailers to the same or similar data security standards as the financial service industry has to abide by and require retailers notify credit unions sooner once a breach occurs. We support the introduction of legislation that ensures all businesses, institutions and organizations that collect, use or share personal data are subject to national standards, to include language that preempts state requirements, among other things. MCUL supports modernizing the Federal Credit Union Act (FCUA). The financial service industry is rapidly changing. Advancements in technology, including high speed internet connectivity, have significantly changed our society and how financial institutions do business. Updating the FCUA has become necessary to ensure federally chartered credit unions have the powers and flexibility to be competitive and members can benefit from new technology. We are currently supporting S. 539/H.R.4867, the Veterans Member Business Loan Act that would exempt credit union business loans to veterans from the member business lending cap and we are supporting H.R. 582/S.610, the Credit Union Board Modernization Act which would afford federal credit unions flexibility with regard to how often their boards meet. In addition, we are calling on Congress to pass H.R. 4868, the Member Business Loan Expansion Act, allowing the NCUA to extend the maturity limit on non-mortgage loans. MCUL is monitoring developments for GSE/housing finance reform and will advocate to make sure any reforms reflect the significant role credit unions play in the secondary mortgage market and we will defend against anything that is potentially harmful to credit unions and our members. MCUL is calling on Congress to pass bank secrecy act/anti-money laundering reforms and provide financial institutions relief from unnecessary, duplicate and burdensome rules and increase the SAR and CTR thresholds. MCUL is educating members of our congressional delegation on the growing interest among credit union members and credit unions in cryptocurrency. We believe Congress should explore ways to regulate the delivery of financial services using digital currencies to ensure consumers are protected in the same way if they received financial services from a financial institution. We urge Congress to look for ways to enable credit unions and other financial institutions to provide digital assets, so that these services can be properly overseen by federal regulators. Finally, credit unions seek parity with other financial institutions in this area as credit unions must be able to offer digital/crypto products and services directly to their members in the same way that other institutions can to their customers. MCUL is urging Congress to amend H.R. 4766, the Clarity for Payment Stablecoins Act of 2023, to remove current competitive barriers for credit unions in stablecoin legislation. MCUL remains opposed to a proposal by the U.S. Treasury Department and that has been discussed in Congress that would require financial institutions to report on an annual basis, the gross inflows and outflows, for member accounts (businesses and individuals). We have been educating our congressional delegation on the issue and urging them to reject including the proposal in future legislation. MCUL opposes H.R. 9303/S.4943, the Protecting Consumers from Payment Scams Act of 2024 provided the bill fails to tackle the root causes of criminal activity that have left consumers vulnerable to fraud/scams, does not provide resources to improve consumer education about fraud/scams and would impose severe costs on credit unions and dramatically alter their ability to absorb future loses. Lastly, credit unions are not-for-profit member-owned financial institutions, owned by members they service. Credit unions consumer-focused model is self-regulating and a principal reason why credit unions are not covered by the Community Reinvestment Act (CRA). MCUL will educate members of the delegation of the work credit unions are doing to serve low/moderate-income, diverse communities and the negative impacts of including credit unions in the CRA. We will oppose efforts that would result in credit unions of any size being included in the CRA.