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updated 07/30/14 09:50 AM
Leaders Discuss the Changing Landscape
The credit union industry’s overwhelming response in sending more than 2,000 letters to the National Credit Union Administration (NCUA) on the agency’s risk-based capital proposal is extremely rare. So what’s different this time around?

A dramatic shift could be under way. Traditionally, engaging with regulators is outside the course of daily operations, which means it’s not top of mind. There’s no immediate positive impact to member service or revenue.

But contentious proposals issued by the NCUA and Consumer Financial Protection Bureau (CFPB) with long-standing consequences may be in store for the foreseeable future. The deep imprint from rule-making is real—and combined with today’s active regulatory environment, many credit union leaders say the industry could be ripe for taking extensive action more often going forward.

Professionals submerged in regulatory advocacy during the past couple of decades remember those few instances when the industry countered forcefully. One memorable example arose in 1995 when 12,000 credit unions existed. After NCUA issued a proposal on corporate credit unions, our movement argued the rule would hinder corporates’ ability to provide competitive products and generate sufficient income. More than 1,300 comment letters were received.

Is today’s momentum behind risk-based capital a sustainable force? The broader ramifications could be incendiary, or not—or at the very least a moment of truth for everyone involved on where you stand, and why.

We encourage readers to make their own conclusions as they review the following opinions on where regulatory advocacy stands today, where it’s been, and where it’s headed. Those on the front lines know their chances of success are hit or miss, and that’s not stopping them.

Click here to read the entire feature story within the August/September edition of Credit Union Digest!

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Networking and Awards after 'REACH'
Credit union chapter members from across California and Nevada gathered Oct. 23 at the JW Marriott (L.A. Live) in downtown Los Angeles to attend the 2014 Chapter Forum, which offered a full day of valuable networking and educational sessions for attendees who were eager to share individual stories about the work their chapters are accomplishing.

NEEN JAMES CHALLENGES CUs AT 'REACH' updated 10/27/14 04:17 PM
'Time is the New Currency'
By Wednesday afternoon, nearly 700 credit union CEOs, professionals, industry vendors, and guests had attended REACH 2014, the California and Nevada Credit Union Leagues’ Annual Meeting and Convention from Oct. 20-22 at the JW Marriott (L.A. LIVE) in downtown Los Angeles.

Latino Consumers Discussed
The Federal Trade Commission (FTC) and Consumer Financial Protection Bureau (CFPB) recently hosted an all-day forum on “Debt Collection and the Latino Community,” which brought together consumer advocates, industry professionals, and regulators to discuss how debt collection issues affect Latino consumers, especially those with limited English proficiency (LEP).

FinCEN: QUARTERLY UPDATE ON 'SARs' updated 10/27/14 03:09 PM
Also, Mortgage Service Transfer Guidance
The Financial Crimes Enforcement Network (FinCEN) has issued its SAR Stats quarterly update, which provides information on Suspicious Activity Reports (SARs) filed through Sept. 30, 2014.