California and Nevada's voice in Washington D.C. The Leagues are the only Leagues with a full time staff dedicated to working with Congress, Government Agencies, and Federal Regulators. The resources in this area will help you keep informed of the latest developments and credit union priorities.
State Government Advocacy efforts brings the voice of credit unions to Sacramento and Carson City. Our advocacy team works daily with elected officials, staff, the executive offices, gubernatorial appointees, and the decision-makers of California and Nevada. This area will keep you updated on all advocacy efforts at the state level of Government.
Hampel called on NCUA to work with other regulators to reduce regulatory burdens that credit unions face. The letter also urged fiscal restraint for the agency.
Regulatory relief is a top priority for the California and Nevada Credit Union Leagues and CUNA as both organizations continue asking NCUA and the Consumer Financial Protection Bureau (CFPB) to minimize government-imposed requirements on credit unions every chance they have.
Corporate Stabilization Assessment Unlikely
Additional credit union payments to the Temporary Corporate Credit Union Stabilization Fund will not be required this year and are unlikely ever again, NCUA stated at its board meeting last week.
Total projected stabilization costs at the end of 2013 ranged from $2.8 billion to $4.2 billion—compared to a range of $6 billion to $9.3 billion in 2011—after all the NCUA Guaranteed Notes had been issued, according to Larry Fazio, director of examination and insurance for the agency.
The stabilization fund is currently projected to conclude in 2021 with a surplus of $600 million to $2 billion, and there could be a rebate to credit unions at that time, if all obligations have been met.
NCUA said the continued positive performance of conserved corporate credit union legacy assets, the NCUA Guaranteed Notes, and the $1.75 billion in settlements for the sale of mortgage-backed securities to the corporates have resulted in the favorable performance of the stabilization fund.
Political Action Committees are organized for the purpose of raising and spending money to elect and defeat candidates, representing business, labor or ideological interests.