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Diana Dykstra, President and CEO of the California and Nevada Credit Union Leagues

DYKSTRA: A 'POSITIVE' GAC VISIT
updated 03/01/13 10:38 AM
CUs Leave 'Strong Impression,' She Says
Like many of you, I was among the 4,200 credit union advocates in Washington, D.C. this week for the Credit Union National Association (CUNA) Governmental Affairs Conference. If you've been keeping up with the news, you have heard how Washington is filled with partisan disputes over the issue of sequestration. While that is true, I'm glad to also report that legislators on both sides of the political aisle were willing to hear our message.

Sequestration is definitely on many legislators' minds, as well as ours since it could seriously impact many credit union members either directly or indirectly. However, we were able to address other important issues—most urgently, preserving credit unions tax status and member business lending (MBL).

Any attempt to tax credit unions affects our very viability, and while we don't foresee an attack on our tax exemption, we want to shore up support in case of any eleventh-hour moves. Our efforts to raise the MBL cap received a boost last month when bipartisan MBL legislation was reintroduced in the House. There are also signals that some type of Senate action on MBL may take place soon, though it is not a certainty.

We also discussed supplemental capital, privacy notifications, and housing finance reform in many GAC visits. We voiced support for The Capital Access for Small Businesses and Jobs Act, which Rep. Brad Sherman, D-CA, recently reintroduced in the House. The bill would permit the National Credit Union Administration (NCUA) to allow credit unions to accept additional forms of capital, and is identical to legislation introduced last session. Rep. Sherman also recently reintroduced The Eliminate Privacy Notice Confusion Act, which would make significant improvements in privacy notices for consumers. CUNA and the League support this legislation. The political debate over housing finance reform is still taking shape, but we are working to ensure that credit unions get their rightful place in the discussion.

It’s exciting to note that we had four California legislative champions speaking on the main stage, which was very encouraging; Kevin McCarthy, Ed Royce, Brad Sherman, and Maxine Waters. Some of our members had brief but positive interactions with Rep. Maxine Waters, D-CA, the ranking Democrat on the House Financial Services Committee and a co-sponsor of the House MBL bill. Also, our League held a successful fundraiser for another of the House co-sponsors, Rep. John Campbell (R-CA), who was very gracious.

Overall, the tone from the lawmakers we visited was more positive than in the last two years. Once again, I saw that with a focused message and a strong turnout, credit unions can cut through the political clamor and leave a strong impression. Participating in events like GAC and the Government Relations Rally (GRR) turns lukewarm credit union supporters into good ones, and good supporters into great ones. Thank you for your support, and let's continue reaching out whenever we can.

 
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NCUA BANS PERIODIC MEM. FEES updated 06/26/15 07:44 AM
FCUs May Not Charge Periodic Fees
The National Credit Union Administration (NCUA) announced that federal credit unions cannot charge periodic membership fees, according to a letter to the American Bankers Association.

LEAGUES SUPPORT RBC STUDY ACT updated 06/26/15 02:09 PM
Submits Letter to Representatives
On June 25, California and Nevada Credit Union Leagues CEO Diana Dykstra sent a support letter to representatives Stephen Fincher (R-TN) and Dennis Heck (D-WA), the authors of H.R. 2769, the Risk Based Capital Study Act.

CA CUs GAIN MORT. MARKET SHARE updated 06/23/15 11:11 AM
Noticeable Rise Since 2009
California is no exception to the rule as credit unions nationwide continue gaining substantial market share in the competitive space for first mortgages—a trend beginning six years ago on the heels of the financial crisis.

TILA/RESPA NEW RULE DELAYED updated 06/17/15 03:05 PM
Postponed until Oct. 1, 2015
The California and Nevada Credit Union Leagues confirmed with the office of Congressman Brad Sherman: "Richard Cordray, Director of the Consumer Financial Protection Bureau has heard from many that want to delay the effective date, or at least the rigorous enforcement of, the new TILA/RESPA form known as the TILA/RESPA Integrated Disclosure (TRID) form. He has reported that he will be delaying the effective date until Oct. 1, 2015. This is partly due to some internal details and partly due to many of us that saw the need for a delay.”

BILL ADOPTS CUNA/CU RBC CONCERNS updated 06/17/15 03:01 PM
NCUA Makes Proposal Revisions
Language was adopted today by the House Appropriations Committee via voice vote that reflects the concerns the Credit Union National Association (CUNA) and credit unions have regarding the National Credit Union Administration’s (NCUA) effort to impose a risk-based capital (RBC) guideline for credit unions

CU LEADERS PUSH DATA SECURITY IN CA updated 06/16/15 11:11 AM
'Connect For The Cause' a Success
More than 3,000 letters from credit union supporters were sent to California state legislators last week in support of Assembly Bill 83 (AB 83).

GREAT TIME TO BE A CREDIT UNION? updated 06/16/15 09:36 AM
Conference: Employees, Millennials, and More
Is it a great time to be associated with credit unions? Based on yesterday’s gathering of leaders in the industry, the answer is an overwhelming “yes”—but with a caveat.

NCUA TO DISCUSS PROPOSED MBL RULE updated 06/12/15 03:06 PM
Other Important Agenda Items Scheduled
The National Credit Union Administration board has a full agenda scheduled for its June 18 meeting, with a proposed member business lending (MBL) rule slated for discussion.

VISA: CUs CAN NAME RETAILERS updated 06/11/15 09:40 AM
Leagues’ Set the Record Straight
Visa has responded to the Leagues’ written inquiry to Visa whether or not credit unions are able to name retailers when reissuing payment cards, following a data breach. Visa clarified there is neither a rule or nor contractual obligation that requires financial institutions to withhold the name of a breaching retailer.

DIVERSITY STANDARDS ISSUED FOR FIs updated 06/10/15 10:49 AM
Regulators Issue Diversity Standards
policy statement establishing joint standards for assessing diversity policies and practices of the institutions they regulate." rows="5" cols="100" WRAP="physical">The National Credit Union Administration (NCUA) and federal banking regulators Tuesday issued their final interagency policy statement establishing joint standards for assessing diversity policies and practices of the institutions they regulate.

DATA BILL HEADS TO CALIFORNIA SENATE updated 06/09/15 10:14 AM
Committee to Review AB 83
The California Credit Union League is advocating for Assembly Bill 83 (AB 83)—data security legislation at the state level which has already passed the California State Assembly with overwhelming support. It is now headed to the Senate Judiciary Committee for its first hearing.

CO-OP SHARED BRANCH SURPASSES 5,300 updated 06/09/15 10:10 AM
More Than Bank of America
With 5,341 branches, CO-OP Shared Branch is now the nation’s third largest network of financial institution branches, according to data drawn from the FDIC—surpassing Bank of America’s 5,244 branches.

CUs CAN IDENTIFY RETAILERS IN BREACH updated 06/09/15 08:46 AM
MasterCard Clears Misconception
Electronics payment network MasterCard has responded to an inquiry by Diana Dykstra, president and CEO of the California and Nevada Credit Union Leagues, regarding whether credit unions can identify a merchant responsible for a data breach, and if such action is rule- bound or under contractual obligation.

CONSUMER COMPLAINT PROCESS IMPROVED updated 06/09/15 06:09 AM
Also, NCUA Town Hall Webinar
The National Credit Union Administration (NCUA) has issued Letter to Credit Unions 15-CU-04, which describes recent changes to streamline the agency’s consumer complaint handling process.

CA CU Leaders Meet Officials updated 06/03/15 04:27 PM
Credit Union Leaders Visit Elected District Officials
In California this week, credit union leaders in Northern and Southern regions continued ongoing advocacy efforts of cultivating relationships with elected officials.

NEVADA BILLS HIGHLIGHT CU SUCCESS updated 06/02/15 11:16 AM
State Legislature Adjourns
With the Nevada Legislature adjourning for the 2015 legislative session, the Nevada Credit Union League reports it was a successful year for credit unions.

CREDIT UNIONS HIT RECORD DEPOSITS updated 06/02/15 09:30 AM
California Leads the Way
California credit unions most likely hit a record in deposits—nearly $132 billion—as credit unions nationwide reported more than $1 trillion in these accounts as of the first quarter this year.

CUs BOOST LENDING, INVESTMENTS updated 06/02/15 02:57 PM
Loan Delinquencies Fall NCUA Reports
According to the National Credit Union Administration (NCUA), federally-insured credit unions focused more on lending and less on investments to generate income during the first quarter of 2015.

GRASSROOTS RECAP: FIRST HALF OF 2015 updated 05/26/15 10:56 AM
California CUs Reach Out to Legislators
It’s evident California and Nevada credit union leaders have been active during the first half of 2015 in reaching out to state and federal legislators on both sides of the aisle to reinforce the credit union philosophy, including several district meetings, annual events, and visits to offices.

GOLF TOURNEY RAISES 68k FOR PAC updated 05/22/15 11:17 AM
Record Amount Contributed to Cause
More than 150 credit union CEOs, executives, professionals, and industry vendors took part in the 2015 Multi-Chapter PAC Golf Tournament in Valencia, CA last week, raising more than $68,000 for the California Credit Union League’s Political Action Committee.

Target/MC Settlement Fails updated 05/22/15 10:16 AM
Target/MC Settlement Fails
Target's $19 million proposed settlement with MasterCard failed to receive the required 90% participation rate from issuers, meaning the settlement will not happen, according to an announcement from MasterCard and one of the attorneys representing five card issuers fighting the settlement.

CU Direct Acquires Intuvo updated 05/22/15 10:02 AM
CU Direct-Intuvo Deal Reaches for 'Holy Grail' of Indirect Lending
The oft-repeated complaint by credit unions that members brought in through indirect auto loans are difficult to make "real" members has been addressed by CU Direct's purchase of Intuvo, a marketing automation software company.

CUES Next Top CU Exec Challenge updated 05/20/15 09:45 AM
Nominate a Standout Future Leader for the 2015 CUES Next Top Credit Union Exec Challenge
The industry’s first competition recognizing the incredible young credit union leaders is back for year number six! The search is on for the 2015 CUES Next Top Credit Union Exec. This program for the industry’s future leaders is powered by Currency and in partnership with DDJ Myers.

LEAGUES AND CONGRESS SEEK CLARITY updated 05/19/15 09:17 AM
Identifying Merchants After a Breach
California and Nevada Credit Union Leagues President and CEO Diana Dykstra has written to the general counsels of Visa and MasterCard seeking official guidance as to whether credit unions can identify a merchant responsible for a data breach.