Midterm Election Update and Importance of Providing Feedback on Proposed CDFI Fund Application Changes
From post-election leadership shifts in Nashville to a newly decided U.S. Senate race in Mississippi, major political developments are shaping the landscape for credit unions across our two states. In this advocacy update, we cover the latest state and federal leadership changes—and highlight an important Nov. 30 deadline for your credit union to weigh in on proposed updates to CDFI certification.
Tennessee State Senate Leadership Elections
Jack Johnson was selected Tuesday by the Senate Republican Caucus to become the next Lieutenant Governor of Tennessee. He will formally take the role from Randy McNally on Tuesday, Jan. 13, when the 115th General Assembly of Tennessee begins.
Johnson’s current role as Senate Majority Leader will transfer to Senator Dawn White, who won an unopposed caucus election to the post. Filling out leadership will be Senator Becky Massey into the post of Caucus Chair.
U.S. Senate Race – Mississippi
After just over a week of counting votes and in a quite narrow race, Democratic challenger Scott Colom, a district attorney, was declared the winner over incumbent Senator Cindy Hyde-Smith. He will join Senator Roger Wicker in Mississippi’s Senate delegation.
Provide Feedback on Proposed CDFI Fund Application Changes
Proposed changes to the Treasury’s Community Development Financial Institution (CDFI) Certification Application could significantly impact CDFI-certified credit unions across Tennessee and Mississippi, particularly smaller institutions and those serving underserved communities.
The deadline for submitting comments is Monday, Nov. 30. However, please submit as early as possible so your institution’s perspective can be included as the Fund reviews these proposed changes.
Read the regulatory alert from America’s Credit Unions. If you have questions, please reach out to AnchorPoint’s Advocacy Team.
