Happy new year from your expanded Advocacy Team! With our first advocacy update of 2026, we’d like to start by officially welcoming our Mississippi colleagues and credit unions to the fold and look forward to advocating with and for everyone in this new era. And we’re off to a flying start.
National Issues Impacting Credit Unions
We’re two weeks into the year and already Washington is up and running.
Credit Card Competition Act is Reintroduced
On Tuesday, the Credit Card Competition Act (CCCA) was once again reintroduced in Congress.
Following President Trump’s post on Truth Social this week showing support for the legislation, it was reintroduced Tuesday afternoon, and Senate Majority Leader John Thune publicly indicated it could likely come up for a vote in the Senate.
As you may recall, the CCCA would require financial institutions above a certain asset threshold to route credit card transactions over multiple payment networks. While supporters frame the bill as a competition measure, credit unions strongly oppose it due to concerns about increased fraud risk, higher compliance costs, and reduced investments in card security and member services. History has shown that similar mandates have not delivered promised savings to consumers but have instead shifted costs and risks onto financial institutions and their members.
Credit Card Rate Cap
The President also proposed a 10% credit card rate cap and even has gone as far to call Senator Elizabeth Warren (D-MA) to rally support for it.
We will continue to monitor these events as they unfold and work with our partner’s at America’s Credit Unions to determine next steps over the next days and weeks.
Tennessee Legislative Update
In Nashville, we welcomed back lawmakers to the second session of the 114th Tennessee General Assembly. It’s early days as to what’s on the agenda for this spring, but the one constant throughout the first week is that lawmakers do not want to be in town very long and are already targeting an early-mid April finish. This is an election year, after all, and one implications on who will be elected to replace the term-limited Bill Lee.
Mississippi Legislative Update
We are barely into the 2026 Mississippi Legislative session, which convened last Tuesday, and legislators appear to be off to a fast start. Early activity has focused mainly on education, with both the House and Senate advancing several bills addressing school choice, teacher pay raises, incentives for retired teachers to return to the classroom, financial literacy and a significant infusion into the Public Employment Retirement System. Thousands of additional bills are expected to be filed in the coming days. And as critical deadlines approach, we will monitor for any bills that could affect credit unions. We will keep your credit union informed and provide timely summaries and potential impacts if/when relevant legislation surfaces.
As always, we will be on the ground in the state capitals and Washington throughout 2026 advocating on your behalf.
Photo Caption
If you look closely to the left of the Tennessee Capitol, you’ll notice scaffolding. Work is underway to renovate the Tennessee Capitol’s roof, exterior windows and doors.
