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January 12, 2024

The Missouri General Assembly returned to some normalcy this week after a rough start to session delayed bill referrals in the Senate. Other than a brief debate on a few rule changes, there has been very little floor activity. The primary focus over the next several weeks will be on committee hearings. Once bills move from committee, that focus will gradually shift to floor debate.

MO Senate Confirms Campbell as State Finance Commissioner

Before adjourning for the week, the Senate confirmed Mick Campbell as commissioner of the Missouri Division of Finance on Thursday. Campbell was appointed commissioner by Gov. Mike Parson in June 2023 and had served as acting commissioner since January 2022.

“We congratulate Mick on his Senate confirmation,” said MBA President and CEO Jackson Hataway. “Mick and his team have been instrumental in our state legislative efforts for the past few years and to revitalize the state banking board. His knowledge of the banking industry ensures Missouri banks remain among the strongest in the nation.”

House Committee Hears MOBUCK$ Testimony

Legislation to increase the cap on the state’s MOBUCK$ program is getting attention early in session. House Bill 1803, sponsored by Rep. Terry Thompson, R-Lexington, was heard in the House Financial Institutions Committee on Tuesday. MBA Senior Vice President David Kent testified in support of the bill, which also is supported by the Missouri Independent Bankers Association and other financial services trade associations.

Thompson would like to share examples with his colleagues of how the MOBUCK$ program has helped a local business or ag producer.  If you have a story to share, please contact David Kent so MBA staff can provide those to Thompson.

The Senate version, Senate Bill 736, is scheduled for a hearing in Senate Insurance and Banking Committee on Wednesday, Jan. 17. Sen. Sandy Crawford, R-Buffalo, is sponsoring the legislation.

Panel to Discuss MBA-Supported Measure

Another bill supported by MBA is scheduled for a hearing in House Financial Institutions Committee on Tuesday, Jan. 16. House Bill 2086 has three separate provisions, including one that would allow banks to pass the cost of a credit report on consumer loans to the customer and a change that would allow banks to negotiate the terms of an ag loan under $5,000 secured by real estate. This bill is sponsored by Rep. Michael O’Donnell, R-St. Louis.

Bills of Interest to Banking Industry 

  • Legislation relating to gold and silver as legal tender was heard in the Senate Veterans, Military Affairs, and Pensions Committee on Wednesday. Senate Bill 735 is sponsored by Sen. Bill Eigel, R-St. Charles, and will likely receive time on the Senate floor in the coming weeks.
  • House Bill 2062, which would prohibit local governments from establishing a moratorium on eviction proceedings, is scheduled for a hearing in the House Special Committee on Small Business on Wednesday, Jan. 17.

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  • Ozark Bank seeks a compliance officer to oversee and coordinate regulatory compliance and risk management.
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