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It has been a productive week in Augusta for advocacy. The League hosted its first Legislative Shadow Day of the year at the State House. Three credit union employees from three different institutions followed their elected representatives for the day. Each attended caucus sessions in the morning and the State of the Judiciary hearing in the afternoon. If your credit union is interested in arranging a Shadow Day, please email Krista Simonis, League Director of Governmental Affairs, at ksimonis@mainecul.org.
The Governmental Affairs team also provided testimony on two important pieces of legislation—LD 440 and LD 788. The League supports LD 440, which would require retailers that sell gift cards to provide information about common gift card scams.
“It’s our feeling that this sort of education could really help decrease the number of consumers falling victim to these scams,” said Robert Caverly, League Vice President of Advocacy & Outreach.
The League testified neither nor nor against LD 788, a bill which would examine options to meet the banking needs of the state’s cannabis industry. The League outlined how cannabis-related businesses have limited access to banking services and discussed why it’s important to increase access to these services through federal intervention. All four members of Maine’s congressional delegation have expressed support for federal action in the past.
In news outside of Augusta, the NCUA East Region meeting was held on Tuesday, where league presidents from across the eastern region shared the status of credit union advocacy in their states and the impact of the recent bank closures. The meeting offered a valuable chance to connect with peers and hear from industry regulators.