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CONGRESS DRAFTS RBC COMMENTS TO NCUA
updated 04/23/14 03:41 PM
Signatures Being Gathered
In the latest effort to address the National Credit Union Administration’s (NCUA) pending rule on risk-based capital, members of Congress are now interested in sending their own comment letter.

“Sending their own version of a comment letter is one of the strongest tools for members of Congress,” said Jeremy Empol, vice president of federal government affairs for the California and Nevada Credit Union Leagues. “When legislation is not an option, members of Congress joining together to raise concerns is a pretty common practice, which in turn demonstrates to regulators that Congress is doing its job and carefully watching.”

The letter is currently being drafted while additional signatures from members of Congress are gathered. Typically, between two and 200 legislators will sign such a letter.

Specific concerns outlined in this letter address: 1) the disparity in the rule between how community-based financial institutions are treated; and 2) the implementation time for the rule to go into effect.

The Leagues and Credit Union National Association (CUNA) will announce the final letter when it is completed sometime before the comment period closes.

As the letter moves through the process, the Leagues may be calling on various credit unions that have key relationships with member of Congress to ask for their support.

If you have questions, please contact Jeremy Empol at jeremye@ccul.org.

Credit unions are encouraged to send their own comments letters through PowerComment.org, the Leagues’ regulatory grassroots tool. Comments are due to the NCUA by May 28.

 
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WHAT 'REACH' MEANS TO YOUR CU updated 10/22/14 05:00 PM
Unique Cross Section of Opinions
What’s your perspective of “REACH”? And what does it mean to your credit union?

MAGIC JOHNSON: REACH FOR NEW HEIGHTS updated 10/21/14 07:20 AM
Delivers Riveting AMC Message
REACH 2014 keynote speaker Earvin "Magic" Johnson challenged leaders attending the California and Nevada Credit Union Leagues’ Annual Meeting and Convention on Tuesday morning to elevate their credit unions to the next level, take their egos out of the game, and "join the team."

PAC GOLF TOURNAMENT RAISES 32k updated 10/21/14 07:08 AM
First Day at Leagues' Convention
More than 80 credit union executives and industry vendors played in the 2014 PAC Golf Tournament on Monday morning at the Mountain Gate Country Club, raising $32,000 for the California Credit Union League’s Political Action Committee (PAC).

CA LEADERS MEET WITH CFPB OFFICIAL updated 10/17/14 10:31 PM
An 'Extremely Worthwhile' Discussion
Nearly 15 credit union leaders recently met at California Coast CU in San Diego with Jennifer Stockett, senior advisor for the office of financial institutions and business liaison at the Consumer Financial Protection Bureau (CFPB).