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Sen. Dianne Feinstein, D-Calif., announced Tuesday she will not seek re-election in 2024. Feinstein has served in the Senate since 1992 and was the first woman to chair the Senate Rules Committee and Senate Select Committee on Intelligence.
“We thank Sen. Feinstein for her longtime support of credit unions, particularly on bills to enhance member business lending and provide a clear data breach notification standard,” said CUNA President/CEO Jim Nussle. “She recognized credit unions on the Senate floor for International Credit Union Day and was always willing to meet with the California Credit Union League and credit unions from across the state. We wish her the best going forward.”
“After so many years of service to Californians and support for credit unions and the members they serve, we want to express our indebted gratitude to Senator Feinstein as she finishes the remainder of her term. Credit union leaders have been honored to work with the Senator since she was first elected in 1992," said Diana Dykstra, president/CEO of the California and Nevada Credit Union Leagues. "She has always recognized the importance of local credit unions and their mission to provide dependable and honest member-owned financial services within all types of communities across the state. We want to thank the Senator for being a friend of credit unions and championing impactful legislation that continues to uplift the financial wellbeing of millions of local households and consumers.
"For credit unions, the Senator’s unyielding support of who we are as a movement and the individuals we serve has etched a powerful legacy within this period of history — and for that, she holds our sincere recognition and gratitude," she added.
Feinstein has co-sponsored legislation to raise the member business lending cap to 27.5% of assets (from the current 12.25% of assets), require timely notification after data breaches, and create a $2 billion Community Development Financial Institution pandemic crisis fund.