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With several high‑impact bills moving through Augusta this month, the League is actively representing credit union interests at the State House and in Washington. Here are the highlights from our recent advocacy work and what’s coming next.
Work Session on Harmful Foreclosure Bill
On Wednesday, January 14, League staff attended a work session for LD 1444, An Act to Prevent Foreclosures Without Strict Compliance with Notice Requirements, a bill that poses threats to the foreclosure process for financial institutions in Maine. The League is pleased to report that there is an amendment being proposed that would replace the bill’s current draft and remove nearly all of the League’s concerns. During the work session, the League’s legal counsel, Dan Cummings, spoke directly to the credit union perspective on this bill and answered questions from the committee. The Judiciary Committee still needs to vote on the amendment, but we are anticipating a vote of “Ought to Pass as Amended” by the end of the month.
League Testifies in Support of LD 2072, Introduces Amendment
LD 2072 is a bill drafted by the Bureau of Financial Institutions that includes several provisions and technical updates. One key provision for credit unions would allow state‑chartered credit unions to participate in mortgage loans secured by real estate outside of Maine—transactions in which multiple financial institutions jointly fund a single loan.
This provision created an opportunity for the League to introduce an amendment expanding the bill’s scope. Our amendment seeks to allow state‑chartered credit unions to engage in mortgage lending without any geographic restrictions, not just participation loans. Under current law, state‑chartered credit unions may only originate mortgages within Maine.
We are pleased to report that the committee members present unanimously voted the bill Ought to Pass as Amended, and it will now advance to the full Legislature for consideration.
Looking Ahead | Your Input Needed
LD 2102 is scheduled for a public hearing next week. This bill seeks to strengthen the state’s government shutdown loan program by amending eligibility requirements and adding funding. The League team is monitoring this bill and collaborating with credit unions to identify recommendations that would increase participation. If you would like to provide input, please contact Jared Gay, Director of Advocacy & Compliance, at jgay@mainecul.org.
Federal Activity
The League recently signed a joint letter (one to the Senate and one to the House) opposing the Credit Card Competition Act, urging Congress to reject the bill. The League is working with industry partners and will keep credit unions apprised on this issue. The NCUA held its first board meeting of 2026 on January 22, with briefings on the Central Liquidity Facility’s budget and a proposed rule for Dependent Care and Board Member Expense Reimbursement.