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Rep. Judy Chu, D-CA

'PATENT TROLLS' EXAMINED AT HEARING
updated 11/05/13 09:21 AM
Congresswoman Recognizes CUs
Last week the House Judiciary Committee held a hearing on H.R. 3309, the “Innovation Act,” which would improve the patent system to promote American innovation and competitiveness legislation offered by Reps. Judy Chu, D-CA, and Darrell Issa, R-CA.

While introducing her legislation, Chu expressed concern about patent troll abuses and their effects on local institutions, including the credit unions in her district. In her statement, Chu formally recognized how abuses in the current system forced "local credit unions in Southern California… to settle in a lawsuit over features on their websites."

Three weeks ago, while the federal government was shut down, Chu's staff met with representatives of the California Credit Union League to fully understand the impact patent trolls were having on credit unions and the threat they pose to their operations, especially at a time when many credit unions are returning to good financial condition.

Click here to read Chu's full statement entered into the Congressional Record.

 
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MCWATTERS DISSENTS ON BUDGET VOTE updated 11/22/14 06:37 AM
Also, Revised RBC Rule Coming
National Credit Union Administration (NCUA) Board Member J. “Mark” McWatters was the only one to vote “no” on the board’s 2015 proposed budget, which will increase 4.2 percent over last year. The vote was 2 to 1.

ANNUAL FED WEBINAR ON REGS, GUIDANCE updated 11/21/14 10:32 AM
Also, FinCEN Issues Advisories
Senior staff at the Federal Reserve will host an annual webinar to provide a recap of recent regulatory changes and highlight various inter-agency guidance. The webinar will also discuss current hot topics in the financial services industry and give a glimpse of future regulatory changes.

NEW EMPLOYMENT LAWS FOR 2015 updated 11/21/14 04:33 PM
Also, TIPs Bulletin Posted
The California Chamber of Commerce has released a list of new employment laws scheduled to take effect in 2015 or earlier that will have an impact on businesses in California.

DIANA DYKSTRA RECEIVES 'EAGLE AWARD' updated 11/20/14 10:41 AM
Outstanding Record of Achievement
Diana Dykstra, president and CEO of the California and Nevada Credit Union Leagues, was presented with the American Association of Credit Union Leagues’ highest honor—the Eagle Award—this week during AACUL’s winter meeting in Hawaii.