Thanks to your generous support throughout the 2020 General Election, the Ohio Movement engaged with decision makers on credit union priorities and leveraged more than $300,000 to support state and federal legislative champions. Of the candidates we supported together throughout this election cycle, 93% were victorious. So, what do these results mean for your credit union?
President of the United States
With Former Vice President Joe Biden declared president-elect, credit unions can anticipate Board Member Todd Harper rising to NCUA Chairman, NCUA Board Nominee Kyle Hauptman no longer considered for confirmation, a new acting CFPB Director to be named, and immediate attention to economic recovery and consumer protection.
United States Senate
At this time, control of the Senate chamber will be decided by two run-off elections in Georgia on January 5. If the Republicans retain the majority, Senator Rob Portman becoming Chair of the Senate Homeland Security Committee, where he’ll have oversight over national cybersecurity policy and COVID-19 response. If the Democrats win the majority, Senator Sherrod Brown will become Chairman of the Senate Banking, Housing and Urban Affairs Committee, where he will have direct oversight over financial regulators such as Treasury and NCUA.
United States House of Representatives
The Democrats are expected to retain at least a 218-seat majority (pending results), which means Ohio will likely retain four seats on the House Committee on Financial Services (U.S. Reps. Joyce Beatty [D-Columbus], Warren Davidson [R-Troy)], Anthony Gonzalez [R-Rocky River] and Steve Stivers [R-Upper Arlington]), U.S. Rep. Brad Wenstrup (R-Cincinnati) will likely remain on the House Committee on Ways and Means, and U.S. Rep. Steve Chabot (R-Cincinnati) will remain on the Small Business Committee as a staunch credit union champion.
Ohio General Assembly
Ohio Republicans maintain a unified majority by picking up a few seats in the state legislature, so credit unions expect Ohio House Speaker Bob Cupp (R-Lima) to be re-elected as Speaker in the 134th Ohio General Assembly and Ohio Senator Matt Huffman (R-Lima) to be installed by his colleagues as Senate President. Both Speaker Cupp and Senator Huffman, who will control the state legislative agenda, remain credit union supporters.
If you have questions about the election results and their impact on credit unions, contact Director of Legislative and Political Advocacy Cory Fleming or Manager of Legislative and Political Affairs Andrew Canan.