MnCUN-supported Accounts Opening Bill Signed into Law

Yesterday, Governor Tim Walz signed into law a bill to bring parity to state-chartered financial institutions and allow them to offer checking accounts to people that have had accounts forcibly closed within the preceding 12 months, just like federal charters are able to now. The bill passed the House unanimously on May 14. MnCUN thanks the bill's authors, Representative Jim Davnie and Senator Karin Housley, for their support of credit unions. 

​Work Remains on the 2-Year State Budget
Last week, the Minnesota Legislative leaders came to an initial agreement on the two-year budget, but not before the constitutional deadline for adjournment.

Legislative leaders have laid out a timeline laid that committees will have budgets set by May 28 and bills completed by June 4. To try to avoid any collapse of this deal, any policy changes included in the bills must be signed off on by the Speaker of the House, the Senate Majority Leader and the Governor.

The plan is to convene for the special session on June 14 and be done within a day or so. If legislative leaders are unable to draft legislative language around the top-level budget targets they’ve agreed to by that date, Minnesota state government will go into a partial shutdown, which hasn’t happened since 2011.