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L-R: Rep. Scott Peters, D-CA; and Rep. John Campbell, R-CA

CAPITOL HILL UPDATE ON CA, NV CUs
updated 07/01/13 07:48 AM
Movement Begins a Marathon
From taxes to nominations and everything in between, there’s been a high level of credit union activity on Capitol Hill over the past week. Members of Congress are working this week in their districts through the July 4 holiday and will return to Washington, D.C. next week for a sprint to the August recess.

The following is a sample of some of the top issues affecting credit unions that the California and Nevada Credit Union Leagues are following:

Tax Reform
The chairman and ranking member of the Senate Finance Committee released the committee's plan to begin an overhaul of the tax code (Click here for more details within a special message last week from Leagues President and CEO Diana Dykstra). This comes as no surprise to credit unions, which have been gearing up for this battle with the Don't Tax My Credit Union campaign.

Despite what many have said, credit unions must treat this as a true threat. All competing interests (not just banks) will be asking members of Congress to engage on their behalf. This process will run through the beginning of August and possibly beyond.

New MBL Co-Sponsor
Regulatory relief remains at the top of credit unions' agenda. Credit unions can push Congress to enhance the credit union charter while defending the movement's tax status at the same time. (Members of Congress support credit unions by co-sponsoring legislation to strengthen the credit union charter).

From Nevada, all four of the House delegation are co-sponsors of H.R.688, which raises the member business lending cap.

From California, the 34th co-sponsor (out of 53) joined the bill this week. Rep. Scott Peters, D-CA (San Diego), is the latest to join 106 other members of Congress. The Leagues and credit unions thank him and his other colleagues for their support.

The House Financial Services Committee has been developing a regulatory relief package, which remains under construction. It's likely a hearing will be held in the summer or fall months to assemble a package. Continuing to gain co-sponsors for these credit union bills is the best way to ensure they are included in this package.

The nomination of Richard Metsger to be the next board member of the National Credit Union Administration (NCUA) was considered in the Senate Banking Committee. Credit unions should expect the committee to pass Metsger’s nomination sometime in July.

Longtime CU Friend Retires
Rep. John Campbell, R-CA (Orange County), announced last week he will retire at the end of this congressional session. Campbell has been a strong advocate for credit unions on the House Financial Services Committee during his service.

What’s Next
Congress returns next week in a marathon session leading up to the August recess. During the month of August, members of Congress will be at home in their districts, where the Leagues will be encouraging all to participate in district meetings.

When Congress returns in September, the Leagues will welcome member credit union representatives to join the Leagues in Washington, D.C. on Sept. 9-11 for a "Hike the Hill" gathering. This will be an opportunity to talk to Congress directly about the credit union movement's tax status, regulatory relief measures, and the future of the credit union movement.

 
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'BIG DATA' SPOTLIGHT: RISK OR REWARD updated 10/22/14 12:06 PM
Three Panelists Share Opinions
With Alessandro Acquisti as moderator, Wednesday’s audience was treated to a lively discussion—and a bit of back-and-forth debate—on the use of “big data” at credit unions and its ramifications.

SPEAKER DELVES INTO DATA PRIVACY updated 10/22/14 11:57 AM
The Credit Union Connection
As the Big Data Panel during REACH 2014 kicked off on Wednesday, it was apparent “big data” is everywhere and infiltrates all facets of our lives. But how much do consumers value their privacy, and what does it mean for credit unions?

SOCIAL CHARM: INGREDIENT FOR SUCCESS updated 10/22/14 07:59 AM
Chen Lizra at REACH
“Engagement” is one of the top buzz words circulating around REACH 2014—and TED speaker, business consultant, and author Chen Lizra shared some unique insights during the general session on Tuesday. Her buzz word: “social charm.”

INNOVATION PANEL SPURS TAKE-AWAYS updated 10/22/14 05:21 PM
Three CU Industry Perspectives
Attendees at REACH 2014 received a plethora of ideas from Tuesday’s innovation panel to take back to their credit unions—not the least of which included more interaction between employees and leaders, and free-flow of ideas from the bottom up.