U.S. Sen. Amy Klobuchar (D-Minn.) met last week with a group of credit union leaders at the Minnesota Credit Union Network headquarters in St. Paul to discuss industry issues and legislative matters surrounding the elections.
Klobuchar said she is hopeful the member business lending legislation will come to a vote this year. The Small Business Lending Enhancement Act (S. 2231) would raise the lending cap on credit unions and help boost the economy by expanding access to capital for small businesses, its backers say.
At the Thursday meeting, the senator also addressed the ATM disclosures bill, which Klobuchar is co-sponsoring. The measure, under the Electronic Funds Transfer Act, would eliminate the need for physical fee disclosures on ATMs.
The senator also touched on tax reform and how it could be addressed, depending on who is elected in the presidential race. She also asked the group to flag any measures in pending tax legislation that could affect credit unions. MnCUN Vice President of Governmental Affairs Mara Humphrey highlighted tax expenditures and pointed to measures within the legislation that credit unions are following.
In further discussions about tax reform, regulations and the economy, Klobuchar told credit union leaders that no matter who is elected the legislators’ goals are to reduce the national debt while keeping the economy stable.
“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.”