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Sharing news on state and national legislative issues of importance to South Carolina credit unions
March 5, 2018
S. 337 unanimously passes full SC Senate Banking and Insurance Committee
View of the SC Senate Banking and Insurance Committee hearing on the morning of Feb. 28.
"It's been a long time coming," Senator Sean Bennett (R-Dorchester) began in commenting on S. 337, SC Credit Union Act at the Feb. 28 Senate Banking and Insurance Committee hearing. The committee unanimously passed S. 337, which now heads to the Senate floor. The earliest the bill may come up for a vote is Wednesday, March 7 and the League will provide further detail as the schedule takes shape.

“The success of today’s vote is a testament to the ongoing engagement by credit union staff and members, who without a doubt, help strengthen our lobbying efforts as they reach out to their local senators,” said League VP of Governmental Affairs Billy Boylston after the hearing.

The bill seeks to provide parity between state charter and federal credit union designations thereby making state-chartered credit unions more viable in the marketplace. The bill also provides the statutory authority (which does not exist today) for a state charter to have a community charter.

There is still much work ahead and credit unions are urged to continue advocacy efforts. Get involved by visiting MySCCreditUnion.com and using the pre-populated email template to request support from SC senators. Keep up to date with bill progress by "liking" My SC Credit Union on Facebook and following on Twitter.

CU advocates reach new levels of voice, influence at 2018 CUNA GAC
At the 2018 CUNA GAC, credit union advocates were reminded of their critical role as voices of the movement--and they responded.

South Carolina credit unions were among more than 5,000 to attend last week's 2018 CUNA GAC, and activities there reinforced CUNA's theme of "Your Voice Is Critical. Make It Heard." 

Highlights for the Palmetto State included an address by CFPB Acting Director Mick Mulvaney, former 5th District congressman, who at the outset touted his Founders FCU membership and thanked the movement for all they do for consumers. In the closing days, SC credit unions enjoyed very positive exchanges with Sen. Lindsey Graham (R-SC), Reps. Jim Clyburn (D-SC6), Joe Wilson (R-SC2), Jeff Duncan (R-SC3), and Ralph Norman (R-SC5), and staff from the offices of Reps. Trey Gowdy (R-SC4) and Mark Sanford (R-SC1). The contingent expressed  gratitude for protection of credit unions through tax reform and for H.R.620 for ADA education and reform, while urging their support of common-sense regulation in S.2155.

See more on the 2018 CUNA GAC in our Tuesday and Thursday recaps.

SC delegation members sign amicus brief supporting Mulvaney's CFPB stint

Five of South Carolina's members of Congress are co-signers of an amicus brief supporting the designation of CFPB Acting Director Mick Mulvaney and his work to "restore true and meaningful accountability" to the agency, which was created by the Dodd-Frank Act.

Among 38 Senators and 75 Representatives on the filing are Senators Lindsey Graham and Tim Scott, plus Reps. Trey Gowdy (R-SC4), Jeff Duncan (R-SC3), and Ralph Norman (R-SC5). The brief confirms authority of the President in naming an interim director and expresses that Mulvaney's continued service is "in the public's best interest" until a permanent director is confirmed. 

Show grassroots support for S.2155 - Economic Growth, Reg Relief and Consumer Protection Act
Relief for Main St. and regulation for Wall St.
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