Taking over as Chair of the Senate Banking and Housing Committee, Ohio Senator Sherrod Brown will be one of the most influential people in the United States tasked with shaping public banking policy. Senator Brown is a strong supporter of the not-for-profit structure and philosophy of credit unions, so the system should not have to worry about a challenge to the federal income tax exemption. He's also focused on expanding affordable Housing and helping small businesses recover from the pandemic during his 1st term as Chair, both of which align with our federal priorities.
Senator Brown is a believer in more federal oversight of lending and collection practices, fee revenue, and capital requirements. Hence, the League and CUNA have developed a comprehensive strategy to engage with his office to better distinguish ourselves from other lenders in the market.
If you have suggestions or would like to participate with Senator Brown, contact League, Chief Advocacy Officer Emily Leite.