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Rep. Jerry McNerney D-CA (Stockton)

STOCKTON CONGRESSMAN SUPPORTS CUs
updated 01/09/14 04:09 PM
Last Official Act of 2013
As Congress closed the door on 2013, Rep. Jerry McNerney, D-CA (Stockton), became the latest Californian to co-sponsor H.R. 688, legislation that would raise the member business lending cap for credit unions.

McNerney joins 37 of his colleagues from California in vocally supporting this necessary and long-sought charter enhancement for credit unions. While legislation, in general, moved at a snail’s pace in 2013, there was plenty of activity for credit unions in Congress.

“Continuing to gain co-sponsors is what we need to do to push our agenda forward,” said Jeremy Empol, vice president of federal government affairs for the California and Nevada Credit Union Leagues. “While California and Nevada are helping lead the nation in bill co-sponsors, we will continue to engage other states to activate their congressional delegations.”

California now has 38 co-sponsors (including author Rep. Ed Royce, R-CA) of the state’s 53 representatives in Congress. California also has Sens. Barbara Boxer (D-CA) and Dianne Feinstein (D-CA) as co-sponsors of the Senate version. Nevada has all four of its representatives as co-sponsors.

A Look Ahead
Congress will reconvene the week of Jan. 6. Legislators must hit the ground running with the mid-term 2014 elections only 11 months away.

In recent weeks leading to the 2013 session’s close, the House of Representatives took two steps forward for credit union regulatory relief by holding a hearing on H.R. 3584 (which would grant privately insured credit unions access to the Federal Home Loan Banks) and passing H.R. 3468, the Credit Union Share Insurance Fund Parity Act. H.R. 3584 now awaits passage by the House Financial Services Committee, while H.R. 3468 awaits passage by the full House.

These bills—in addition to preservation of the credit union tax status, reform of Government Sponsored Enterprises (GSEs), and passage of other regulatory relief measures—will be on the Leagues’ agenda at the 2014 CUNA Governmental Affairs Conference, which begins Feb. 24.

 
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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.