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April 12, 2024

MBA Testifies For Bill Creating State CRA For Credit Unions

Legislation to create a Missouri Community Reinvestment Act for state-chartered credit unions was heard in the House Financial Institutions Committee this week. House Bill 2886, sponsored by Rep. Dane Diehl, R-Butler, is intended to level the playing field between banks and credit unions. MBA and the Missouri Independent Bankers Association testified in support of the bill.

“As credit unions push to expand and compete more directly with banks, we welcome the opportunity to highlight the fact that credit unions are not required to prove they are meeting the needs of the communities they serve,” said David Kent, MBA senior vice president and chief lobbyist. “We appreciate the efforts of Rep. Diehl to bring the bill forward and begin this important conversation.”

Senate Debates House MOBUCK$ Legislation

Legislation to increase the cap on MOBUCK$ from $800 million to $1.2 billion was debated by the full Senate, an important step toward final passage. House Bill 1803 is sponsored by Rep. Terry Thompson, R-Lexington, and is being handled in the Senate by Sen. Sandy Crawford, R-Buffalo. The bill was tabled after debate over some amendments that were unrelated to the linked-deposit program.

MBA is hopeful it will be taken up again and approved. If it is passed by the Senate without changes, it will move on to the governor’s desk.

Provisions to increase the MOBUCK$ cap also are included in Senate Bill 736 and Senate Bill 835. Both bills are sponsored by Crawford, and both have been approved by the Senate and sent to the House for consideration. Senate Bill 835 also includes MBA-priority language to allow banks to pass through the cost of credit reports on consumer loans to customers and repeals two sections of outdated banking code.

Senate Approves Bill Barring Medicaid Reimbursements To Planned Parenthood

After an 11-hour Democrat filibuster Tuesday, the Senate approved a bill that would prevent Planned Parenthood from receiving state funds. This is a priority of some Republicans and has been used as a bargaining chip in negotiations between GOP members as they navigate controversial issues. It is unclear if this will reduce tensions between members of the Freedom Caucus and Senate leadership that have led to slowdowns and shutdowns during this current session and past sessions. According to Missouri’s constitution, the session must adjourn 6 p.m. Friday, May 17.

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MBA Job Board

Visit MBA's Job Board to learn more about these exciting opportunities.
  • Southern Bank, headquartered in Poplar Bluff, is hiring a Community Reinvestment Act officer. The CRA officer could be located at any of Southern Bank’s branches within its footprint, subject to office availability.
  • Mid America Bank in Wardsville is hiring a chief operating officer to oversee its core operations, retail branch operations, deposit operations, loan operations and digital banking operations.
  • The Bank of Prairie Village in metropolitan Kansas City has opportunities for a credit analyst and banking associate to join its team.