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Federal, Kansas and Missouri Legislative Updates

From Washington D.C. to Topeka to Jefferson City, lawmakers have been busy with a strong start to their respective legislative sessions. Read on for the latest advocacy news on the Federal, Kansas and Missouri levels. 

FEDERAL 

Federal Member Business Lending Bill Introduced 
The Credit Union Residential Loan Parity Act (H.R. 389) was introduced last week in the U.S. House of Representatives. The bill would remove any loan made for the purchase of a non-owner occupied, 1-4 unit property from the 12.25 percent cap on member business loans. This is similar to the MBL bill introduced in the 114th Congress. Bills must be reintroduced after a new Congress is sworn in every two years.

KANSAS 

Governor’s Budget Calls for Agency Consolidations
Governor Sam Brownback called on the Kansas Legislature during his annual State of the State address (January 10, 2017) to implement a number of agency consolidations. While a consolidation involving the Kansas Department of Credit Unions (KDCU) and the Office of the State Bank Commissioner (OSBC) was not specifically named, the Governor has promoted in budget talks implementation of the Alvarez & Marsal Efficiency Study, which was conducted last year as part of the Legislature’s search for cost-savings. That study does recommend consolidating certain functions between the KDCU and OSBC.

HCUA’s advocacy team has been at the Statehouse this past week reiterating the lack of cost-savings in such a consolidation since both entities are fully fee-funded by the financial institutions they serve and do not receive taxpayer funding from the state budget.

What issues could potentially impact Kansas credit unions? View the bills that HCUA is monitoring and tracking.

MISSOURI 

David Kent testifies before Senate Government Reform Committee in support of the MMPA reform bill. 

MMPA Reform Bill Hearing Held
The Senate Government Reform Committee heard SB 5, the Missouri Merchandising Practices Act (MMPA) reform bill, on January 18. David Kent, of HCUA Advocacy, testified in support of the measure, which will help protect businesses, including credit unions, from MMPA lawsuits that allow for excessive judgments stemming from minor errors on paperwork and other non-injury claims. The bill is sponsored by President Pro Tem Sen. Ron Richard (R-Joplin) and is part of a package of tort reform bills introduced this year.

Check out additional bills with a potential impact to credit unions in Missouri

Governor Calls for Review of State Regulations, Credit Union Input Needed
Help reduce burdensome regulations at the state level! Information and ideas are needed after Governor Eric Greitens (R) issued an executive order calling for a complete review of state agency rules. Part of the review process will involve informational hearings for interested parties to provide comments and suggestions on existing regulations. Share your input with David Kent or Amy McLard.

The review process must be completed by May 31, 2018. 

If you missed Governor Greitens State of the State address, watch it here