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L-R: Sharon Lindeman, Vice President of Regulatory Advocacy for the California and Nevada Credit Union Leagues; Rick Metsger, Board Member for the National Credit Union Administration (NCUA); and Lucy Ito, Executive Vice President and COO of the Leagues

MATZ AND METSGER ADDRESS CU LEADERS
updated 03/03/14 12:59 PM
Risk-Based Capital Proposal Discussed
The California and Nevada Credit Union Leagues hosted exclusive meetings with National Credit Union Administration (NCUA) Board Chairman Debbie Matz and Board Member Rick Metsger during the Credit Union National Association’s (CUNA) 2014 Governmental Affairs Conference last week—both well-attended sessions.

Credit union leaders from California, Nevada, Georgia, Alabama, and Florida heard directly from Matz and Metsger on several topics. Topping the discussion list was NCUA’s current risk-based capital proposal.

Matz acknowledged the proposed examiner authority to impose higher capital requirements for individual credit unions is a concern, and said she welcomes comments from credit unions on this and other components of the proposal.

Metsger also recognized that NCUA needs credit unions’ input on the proposal and said the agency will listen to all comments received. He said there will be changes between the proposed and final rules, and that “there is a lot of work to be done.”

The current comment deadline for the risk-based capital proposal is May 28.

Last week, CUNA and the National Association of Federal Credit Unions (NAFCU) issued a joint letter to NCUA calling for an additional 90 days to comment on the risked-based capital proposal, which would extend the comment period to 180 days.

In conjunction, the Leagues are urging all credit unions to comment on the proposed rule and continue to be prepared to comment by May 28. The Leagues will keep credit unions informed of any deadline changes.

PowerComment Announcement
During Monday’s general session at GAC, the Leagues and CUNA announced a partnership to take PowerComment national, empowering all credit unions across the country to take a stand against regulatory burdens.

PowerComment is currently available to all League-affiliated credit unions in California and Nevada and is being piloted by several other credit union leagues. When it is rolled out nationally, it will be available to all CUNA-affiliated credit unions. It is a simple, highly-interactive online tool created by the Leagues in 2013 to help credit unions engage with agencies on key issues. Users have access to the latest regulatory proposals, discussion boards, and most importantly, the ability to submit comment letters directly to regulators.

Visit PowerComment, and make your voice heard!

 
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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.