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Association Meets with Financial Commissioner as GA Session Gets Underway

The 2024 Maryland General Assembly is underway, and the MD|DC Credit Union Association’s Advocacy Team is busy reviewing 720 bills to identify legislation that could impact credit unions.

Last week, the Advocacy Team met with Maryland Commissioner of Finance Tony Salazar to discuss the department’s proposed bills, including HB 250, which would give the Office of Financial Regulation (OFR) the authority to examine third-party service providers to assess for unsafe or unsound practices on behalf of, or in direct relation to, an entity licensed or chartered by the OFR. Currently, the OFR has the authority to examine a CUSO that a state-chartered credit union has invested in. The bill would allow OFR to examine any third party that provides lending and internet-related services.

Join us for the annual legislative reception in Annapolis
Register for the annual Maryland Legislative Reception on Tuesday, February 6, 4:30 – 7:30 pm at Red Red Wine Bistro in Annapolis. The event provides an opportunity to engage with lawmakers. It’s free and open to affiliates of the Association. Register here.

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