Compromise Language Successfully Achieved for MSIC
Key Facts
- The Massachusetts Credit Union Share Insurance Corporation (MSIC) filed legislation that would update and extend its capabilities pertaining to the interstate branching of credit unions
- ML Strategies worked closely with the Commissioner of Banks and relevant members of Governor Charlie Baker’s administration
- The compromise language was endorsed
The Situation
The Massachusetts Credit Union Share Insurance Corporation filed legislation that would update and extend its capabilities pertaining to the interstate branching of credit unions. The Massachusetts Bankers Association and the Division of Banks had concerns with the initiative.
The Approach
ML Strategies worked closely with the Commissioner of Banks and relevant members of the administration to develop compromise language that addressed the concerns raised while achieving the MSIC’s goals.
The Outcome
The compromise language was endorsed by the administration.