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The Legislature is now approximately halfway through the expected bills for this legislative session. The Governmental Affairs team is currently tracking 16 Priority One bills, 21 Priority Two bills, and 35 Priority Three bills. So far, testimony has been provided on 19 items, including last week’s confirmation hearing for Five County CU’s Mike Foley, who was nominated to serve on the Board of Directors for the Finance Authority of Maine (FAME).
During the confirmation hearing, Foley spoke about his experience with agricultural lending as well as the creation of specialized loans for those pursuing career or technical schooling. The League also submitted testimony in support. Despite the Senate being in an emergency session regarding the state budget, the committee returned to approve Foley’s confirmation unanimously.
On Tuesday, the Health Coverage, Insurance, and Financial Services Committee once again saw “An Act Regarding Nondiscrimination in Financial Services,” which was presented this session as LD 880. The bill was nearly identical to the one presented in the 131st Legislature, when the League was joined with three credit unions—UCU, Milestones FCU, and Oxford FCU—in testifying in opposition of the legislation. These points were brought up again, with many members of the insurance industry joining the financial industry in opposing the bill which attempts to prevent ESG scoring from being used in Maine.
Since returning from Washington, DC, the Governmental Affairs team has provided testimony on six separate items including: LD 720 concerning the Federal Home Loan Bank of Boston, LD 522 regarding workforce gender segregation, testimony toward the appointment of Mike Foley to the FAME Board, testimony on LD 863 surrounding raffles, and testimony on LD 859 about cannabis banking. Next week, the League will be providing testimony on two surcharge bills, three bills relating to medical debt, and another raffle bill.
In addition, LD 97 was enacted by the Senate. Having now been confirmed by both chambers, it moves to the Governor, where we are hopeful for its passage before the end of this month.
At the federal level, the Don’t Tax My Credit Union campaign continues. The League held a Town Hall on Tuesday this week to discuss a nuanced strategy for approaching the Maine delegation. There are also concerns regarding what the impact of President Trump’s executive order on the CDFI fund may be for CDFI credit unions in Maine. The League will continue to engage on this issue and keep credit unions apprised of new developments.