MnCUN Meets with Sen. Klobuchar in Ongoing Election Efforts
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ST. PAUL, Minn. – The Minnesota Credit Union Network (MnCUN) welcomed longtime credit union friend U.S. Sen. Amy Klobuchar (DFL-Minn.) to the Network office on Sept. 27 for a discussion with credit union leaders about top issues facing the movement and legislative matters surrounding the elections.
Focusing on topics of primary importance to credit unions, Klobuchar touched on tax reform and how it could be addressed, depending on who is elected in the presidential race. Klobuchar, a credit union supporter, also asked the group to flag any measures in pending tax legislation that could impact credit unions. MnCUN Vice President – Governmental Affairs Mara Humphrey highlighted tax expenditures and pointed to measures within the legislation that credit unions are following.
In further discussion about tax reform, regulations and the economy, Klobuchar told the group that no matter who is elected the legislators’ goal is to reduce the national debt while keeping the economy stable. She also said that there will likely be measures within the various legislative reforms that credit unions will find appropriate.
The group also addressed other Senate issues including an ATM disclosures bill, which Klobuchar is co-sponsoring, and a pending vote on member business lending (MBL) legislation. The Small Business Lending Enhancement Act (S. 2231) would raise the lending cap on credit unions and help boost the economy in allowing small businesses more access to capital. Klobuchar said she is hopeful that the bill will come to a vote yet this year.
In addition to discussing the progress of MBL, Klobuchar addressed the need for another piece of legislation beneficial to credit unions – a measure under the Electronic Funds Transfer Act – that would eliminate the need for physical fee disclosures on ATMs. The group thanked the senator for her continued support of credit unions.
“A priority of Minnesota credit unions and our political advocacy efforts is to make sure legislators understand credit union issues and the important role credit unions play in our society,” said Humphrey. “We also want our legislators like Sen. Amy Klobuchar to know that we greatly appreciate their support, and we thank them for taking the time to hear our message.”