Removing Barriers Blog

Advocacy Report from NCSL Legislative Summit
Posted August 10, 2016 by CUNA Advocacy

The NCSL 2016 Legislative Summit is currently taking place in Chicago.  It's the largest gathering of state legislators and staff in the country, and our advocacy staff are on the lookout for discussions impacting credit unions.  

Here's what we've heard so far: 

  • The Task Force on State and Local Taxation met to examine important and current issues on tax policy.  As expected, there were no discussions that would directly impact credit unions' tax status.
  • The Communications, Financial Services and Interstate Commerce Committee (the CFI Committee) adopted a resolution to explicitly allow states to set their own marijuana policies without federal interference - thus allowing financial institutions the ability to provide financial services to lawful marijuana-related businesses.
  • The CFI Committee failed to adopt a proposed resolution to reinstate the separation of commercial and investment banking functions previously in effect under the Glass-Steagall Act.
  • A panel of speakers, including Ashley Niebur, Director of Advocacy at the Illinois Credit Union League, discussed financial exploitation of the elderly.  The discussion included issues with protecting the elderly, available resources, and what various organizations, e.g., AARP, the ABA Foundation, the Uniform Law Commission and others, are doing to combat abuses.