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Cherry Blossom Run Unites Credit Unions and Congress

The Maryland General Assembly is officially in its final and busiest week of th e 2018 legislative session which ends at midnight, Monday, April 9.

We are closely monitoring bills that have the potential to impact your credit unions and your members. In the wake of the Equifax breach, a bill aimed at giving consumers more control over their credit reports, has passed both chambers and gives Marylanders the ability to place, remove or temporarily lift a security freeze for free. The D.C. Council passed a temporary bill that took effect January of this year and requires credit reporting agencies to offer consumers free credit freezes until August 30, 2018.

Senate and House versions of an omnibus consumer protection bill need to be reconciled to advance. The Association had been working to amend the bill to include a study on the impact to financial institutions when a breach occurs of consumers' personal information maintained by a business. Instead, the Maryland Commission on Consumer Financial Protection is expected to take up the study after the legislative session ends. The Association was successful in its efforts to move provisions on the fiduciary rule and arbitration out of the bill to the Commission study.

The D.C. Government has updated its  Employer Commuter Benefits Toolkit which provides guidance to D.C. employers, with 20 or more employees working in the District, on how to comply with the D.C. Commuter Benefits law.

Here's the political roundup:
  • Governor Larry Hogan will develop a new social media policy under a settlement reached with the American Civil Liberties Union. A federal lawsuit was filed last August after several Facebook users claimed their critical comments were deleted and they were blocked from the governor's Facebook page.
  • Maryland's Legislative Black Caucus has named Delegate Darryl Barnes of Prince George's County as its new chair.
  • District 6 Congressional candidate Businessman David Trone has spent nearly $80,000 for a week of television ads. Trone's ad buy is the first among any federal candidates in the Washington region 
Late last week, the Democrat-controlled General Assembly sent a number of controversial bills to Governor Hogan triggering a six-day clock for Hogan to sign the bills, veto them or let them become law without his signature before adjournment on April 9. In an election year, any vetoes the governor issues after April 9 cannot be subject to an override vote in January when a new legislature takes office. Lawmakers have until to midnight on Monday to act on overriding a veto.

Have a wonderful week!
John Bratsakis