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2014 GAC: DATA SECURITY, TAX REFORM
updated 02/11/14 10:30 AM
League Expert Preps Attendees
At the end of February, credit union advocates from across the nation will converge in Washington, D.C. for the Credit Union National Association’s 2014 Governmental Affairs Conference (GAC).

With the recent breakthrough in Congress regarding the nation’s budget and other agenda items, could legislation impacting credit unions be addressed in 2014?

“Following the Target and Neiman-Marcus data breaches, there certainly will be a lot of discussion, as four different bills have been introduced addressing data theft,” said Jeremy Empol, vice president of federal government affairs for the California and Nevada Credit Union Leagues. “Combine data security with the possibility of tax reform, the wind down of Government Sponsored Enterprises Fannie Mae and Freddy Mac, plus charter enhancements such as raising the member business lending cap and parity for attorney trust accounts, and yes, there’s a chance something will be completed by the end of this year.”

Empol added: “At this year’s GAC, California and Nevada will be focused on holding merchants accountable for data breaches, preserving the credit union tax status, and pushing forward on charter enhancements. Our Congressional visits will be limited in time, so our messages will have to be concise—especially with so many points to cover.”

All of these topics will be addressed during the Leagues’ Legislative Briefing, which will be held on Feb. 24 at 1pm, in Room 140 of the Washington Convention Center.

In the meantime, please contact Jeremy Empol for questions about the GAC.

 
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SUPP. CAPITAL FOR RBC GAINS ADVOCATE updated 12/16/14 11:04 AM
McWatters Supports Model for CUs
National Credit Union Administration (NCUA) Board Member J. “Mark” McWatters recently said he supports including a supplemental capital provision in the agency's risk-based capital (RBC) rule to help credit unions meet the rule’s requirements.

CU DIRECT TO DONATE 20K TO CMN updated 12/16/14 11:03 AM
‘20 for 20’ Anniversary Campaign
CU Direct, the nation’s leading provider of lending, automotive, and strategic solutions for credit unions, is celebrating its 20th anniversary by holding a contest to donate $20,000 to one of the nation’s Children’s Miracle Network (CMN) hospitals.

NCUA MAY BE LIABLE FOR DATA BREACH updated 12/16/14 10:05 AM
Flash Drive with Member Info Lost
The National Credit Union Administration (NCUA) confirmed on Dec. 15 that a flash drive containing the personal information of Palm Springs FCU member was lost during a recent audit. The loss of data includes names, addresses, Social Security numbers, and account information.

PREPARE FOR HEALTH CARE REQUIREMENTS updated 12/16/14 09:42 AM
Also, Digital Media and Marketing
Federal health care law requirements, creating a quick digital message, and the marriage of innovation with marketing are all highlighted within the latest “Problem? Solved!” column in Credit Union Digest!