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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.