Advocacy Updates

Take your advocacy program to the next level!  

The California and Nevada Credit Union Leagues have several opportunities coming up for those seeking to amplify their credit union’s advocacy program.  

2024 Advocacy Workshop

Please join us for our upcoming 2024 Advocacy Workshop on January 31st, 2024! It will be taking place this year at Wescom Credit Union, at 5601 E La Palma Ave., Anaheim, CA 92807. If you would like to join us, you can register here. 

It will be an all-day event, where we’ll discuss the 2024 election including all our open / targeted races, best practices in lobbying, grassroots efforts within the community, regulatory updates, and ways to get involved in PAC! We look forward to bringing in diverse perspectives from newcomers to seasoned professionals. Everyone is welcome! 

This workshop will strengthen communication skills required for effective legislative meetings and feature fresh concepts about targeting and maintaining relationships with important community leaders. This workshop will help credit union employees looking to elevate the professionalism of their governmental affairs and community outreach efforts, as well as individuals who aspire to become advocates for their credit union in the future. 

Click the link here to register now and reserve your place at the 2024 Advocacy Workshop! We encourage you to register early to secure your spot. Do not hesitate to reach out to Madison Lee at madisonl@ccul.org if you have any questions. We hope to see you there! 

Federal Update  

Congress entered recess on December 14th, with the Senate and House resuming on January 8 and 9, respectively. They face deadlines to pass appropriations bills by January 19 and February 2 to prevent a government shutdown. 

Speaker McCarthy is set to retire this month. The Leagues thanked him for his years of service and dedication to the credit union movement. Speaker McCarthy’s departure and Rep. George Santos’ expulsion narrows the House’s Republican majority, indicating a need for bipartisan cooperation on appropriations bills. House Republicans can only lose two votes to pass a bill in the House. 

In December, CFPB Director Rohit Chopra spoke to congressional committees and at a town hall hosted by Congresswoman Maxine Waters in Inglewood. During these meetings, Director Chopra highlighted the significance of relationship banking for consumer credit journeys. He mentioned a possible December release of a proposed rule on overdraft fees, aiming to define “junk fees” in future rulemakings and guidance, which has not been defined in statute. 

State Update

The California State Legislature has been in recess since September 14th, but the relative calm of fall interim will come to an end when the legislature returns on January 3rd.  Since our last update, the League put out our 2023 Legislative Recap document and has been working feverishly on our 2024 State-Charter Modernization bill which will be introduced in January.  The League also formally endorsed a ballot initiative that would require one semester of financial education for high school students before graduation, please click on the link for ways to get involved in the effort. 2024 is sure to be a busy year in the legislature and please save the date for our 2024 Government Relations Rally in Sacramento on April 8-9.

Regulatory Update

• Regulators – Amplify your credit union voice further through your active participation in regulatory meetings!  Regulatory meetings provide a platform for credit union advocates to express their concerns, share insights, and provide real-life examples of how regulations impact credit unions and their members. By attending these meetings, you ensure that the unique needs and perspectives of credit unions are heard and considered.

   

  Hosted the following exclusive meetings with regulators and League members: 

   

• • Assistant Secretary, Graham Steele, of Financial Institutions at U.S. Treasury – Met with Assistant Secretary Steele of U.S. Treasury during Hike the Hill.  

     

  • Consumer Financial Protection Bureau (CFPB) Senior Officials – Met with senior officials at the CFPB headquarters during Hike the Hill.  
     
  • DFPI Commissioner, Clothilde “Cloey” Hewlett and Deputy Commissioner Purvi Patel – Met credit union leaders during the Shapiro Summit CEO Roundtable and California Government Relations Rally (GRR).  

     

  • DFPI General Counsel, Avy Mallick – Keynote speaker for the Leagues’ first-ever 2023 CU Impact event. His session covered an overview of the DFPI’s position on community and social impact, including helping underserved communities, and financial well-being for all.   

     

  • NCUA Chairman Todd Harper – Met at CUNA’s Government Affairs Conference (GAC) and the California and Nevada Credit Union Leagues’ REACH 2023 event. 

     

  • NCUA Western Region Director – Met with NCUA Western Region Director, Cherie Freed, to discuss supervisory and exam issues. 

• Pending Regulatory Proposed Rules – The following proposed rules are open for comment. Please consider whether and how these proposals would affect your credit union. You have the power to let your voice be heard and make a difference!

   

For more information, please contact Lisa Quaranta at lisaq@ccul.org. 

Political Events Updates

The Leagues met with Congressman Adam Schiff to support his race for the US Senate on Tuesday, December 19. We extend our deepest gratitude to First Entertainment for hosting the meeting. Congressman Schiff has been a longtime friend to credit unions and a champion of our cause. During our discussion, Congressman Schiff shared that he understands credit unions are in a challenging predicament as it relates to cybersecurity. The cost of data protection continues to increase as hackers become more sophisticated. If elected to the Senate, one of his goals will be to strengthen cybersecurity, especially for smaller institutions like credit unions. Congressman Schiff also shared that credit unions provide invaluable services to consumers. When asked how credit unions can better help consumers during our challenging economic times, he said “Keep doing what you’re doing.” He sees that credit unions provide financial counseling, grants to those in need and counseling services to our members. As a personal anecdote, Congressman Schiff told participants about a young woman he met who struggles financially, even though she completed college and has a well-paying job. Like credit unions, one of his goals is to strengthen the economy and to achieve financial wellbeing for all.  

The Leagues also had the pleasure of meeting with Asm. Juan Alanis at Mocse Credit Union in Modesto on December 14th. Assemblymember Alanis has been a longtime friend and supporter of credit unions, and further expressed his support during our meeting with him. He shared with us that he had a very successful first year in the Assembly, as he was able to cast 1600 votes, was a part of 7 committees, handed out 236 certificates, and had 5 bills signed by Governor Newsom. As a former Sheriff and longtime resident of his district in Modesto, he expressed his concerns over public safety and cyber security. He communicated that he is open and willing to speak further with credit unions regarding how to address the growing concerns of fraud and cyber security. We would like to thank Assemblymember Alanis as well as Mocse Credit Union for making this event a resounding success!  

Asm. Alanis at Mocse Credit Union, December 14th

The Leagues and California Credit Union met with Congressman Tony Cardenas on Friday, December 15. During our meeting, he shared that he believes his colleagues view credit unions favorably. He spoke highly of the credit union movement and recognized that credit unions are committed to people over profits. Congressman Cardenas shared his experience as a legislator working through the rollout of the PPP loan program, which gave California Credit Union an opportunity to share some of their successes in serving the underserved during the COVID-19 by supporting small businesses. Attendees also discussed the importance of financial education and working with young minds to prepare them for a bright financial future! Congressman Cardenas has been a champion for credit unions and will be retiring in 2024. We are sad to see him go and wish him all the best in his next venture.  

Want to join us for an upcoming Advocacy event? Please see the Advocacy Calendar below to see our upcoming events for 2024!

For more information about our upcoming events, to RSVP or to schedule a PAC presentation, please contact the Leagues Political Advocacy Manager, Angelica Pappalardo at angelicap@ccul.org   

Take your advocacy program to the next level!  

The California and Nevada Credit Union Leagues have several opportunities coming up for those seeking to amplify their credit union’s advocacy program.  

Welcome Madison:

My name is Madison Lee and I am the new Advocacy Specialist with the California Credit Union League! I was born and raised in the Sacramento area, and just recently graduated from California State University, Sacramento. I am very excited to be strengthening the League’s grassroots efforts and working with our amazing credit union members and leaders! I have had the pleasure to be able to meet with many of you over Zoom or in-person and look forward to further connecting! I am currently working on our upcoming Advocacy Workshop that will be taking place on January 31st, 2024, in Anaheim, CA. If you have any questions or want to reach out, my email is madisonl@ccul.org. My inbox is always open!

Hike the Hill Recap:

At this year’s Hike the Hill, 38 credit union leaders traveled to the heart of the nation, Washington, D.C. These passionate advocates met with regulators, legislators and their aides to talk about the credit union difference, highlight the harmful effects of the Credit Card Competition Act, and discuss other policies important to credit unions. Here is our impact by the numbers:

• Met with Department of Treasury Assistant Secretary Graham Steele
• Met with five staff members with the Consumer Financial Protection Bureau
• Met with four U.S. Senate offices
• Met with 38 offices in the House of Representatives
• Overall, advocates checked in with regulators, legislators, and/or their staff 61 times in 2 days!

During a handful of meetings on Capitol Hill, Members of Congress shared that they will not be cosponsoring H.R. 3881/S. 1838, Credit Card Competition Act. Others committed to cosponsoring H.R. 4867, the Veterans Member Business Loan Act. Knowing that Members of Congress and Senators are taking positions that support credit unions is a testament to the difference advocacy makes in the Halls of Congress.

Our lobby day on Tuesday, September 19 started on a high note and ended on a high note –

Ranking Member of the Financial Services Committee Maxine Waters welcomed credit union leaders during a breakfast meeting. She thanked the crowd for our commitment to financial inclusion and gave a special thank you to Kinecta for opening a branch in an underbanked part of her district. Rep. Waters has shattered many glass ceilings as the first African American and first woman to serve as Chair of the Financial Services Committee. Although her leadership can be a serious role, she brought light and humor to the meeting by cracking some jokes and talking about her love of rap.

A political reception for Rep. Pete Aguilar and Members of the New Democrats Coalition was also a great success. Sixteen Members of Congress attended to show their appreciation for credit unions. This means Hike the Hill attendees had the unique opportunity to meet with Members of Congress twice in one day!

A huge thank you to all the incredible credit union members and individuals who joined us for Hike the Hill this year and demonstrated their unwavering commitment to advocacy. Your participation not only made this event a resounding success but also showcased your dedication to the credit union difference. Thank you for being a driving force behind our advocacy endeavors, and may your continued support propel us into a bright future!

State Update:

The California State Legislature adjourned on September 14th at midnight until they return January 3, 2024. The end of session was relatively free of last-minute drama, which is how it has been since the passage of Proposition 54 in 2016. Prop 54 states that all bills must be in print for 72 hours before the final vote on that bill. This is not to say that there were not fights on this final week of session, a couple bills that the League either supported or opposed were voted on this final week. Most notably the two climate reporting bills, SB 253 & SB 261 are headed to the Governor for his signature, reminder these bills only apply to entities with revenue either over $1 billion for SB 253 or $500 million for SB 261. The League fought hard to prevent these bills from passing the last two years and were successful in securing amendments that will provide a delayed implementation period for both bills and significantly raised the reporting threshold last session in SB 261. The league was happy to see remote online notary pass, SB 696, however this bill has a lengthy delayed implementation as well. A bill that would prohibit the use of common counts in collections, AB 1414, also passed in the legislature, the League opposed this bill. There was also a bill that expanded paid sick leave from 3 to 5 days, SB 616, that passed, the original bill was 7 days and the League was successful in reducing the number from 7 to 5 days. Finally, a bill the league supported that will license and regulate digital asset companies, AB 39, is also headed to the Governor for a signature.

This legislative session was one of the most active sessions for the League in recent memory with positions on nearly 50 bills. The League’s success on stopping elder financial abuse liability bill, SB 278, and being carved out of the junk fee bill, SB 478, show the ever-important role that advocacy plays in the credit union movement.

As we look to 2024, we expect the homeowner’s insurance crisis to be one of the main topics the legislature will address, and we also expect elder financial abuse to be a hot topic as well. The League also plans to run a State Charter Modernization bill, so please send your ideas in soon. A full legislative report will be distributed to all members after the Governor has acted on the bills that will impact credit unions; he has 30 days to sign or veto bills once they are in his possession. Thank you to all who helped with Connect for the Cause and attended the Government Relations Rally, those grassroots events set the groundwork for our success! On to 2024.

Political Update:

Leadership changes are coming to California State Legislature in 2024 as Senate President pro-Tempore Toni G. Atkins (D-San Diego) announced that Senator Mike McGuire (D-Healdsburg), will be the next leader of the California Senate. McGuire’s term will be brief as he terms out in 2026. Though they are still discussing a transition date, it is likely to begin early next year.

The Senate President pro-Tempore is one of the most powerful positions in state politics, acting as the body’s chief negotiator with the governor and the Assembly speaker on key legislation and the state’s $300 billion+ annual operating budget.

McGuire – a moderate Democrat representing an expansive North Coast district from Marin County to the Oregon border – has been a member of Atkins’ leadership team as the chamber’s majority leader since 2022. Since his election, he has built a strong relationship with his local credit unions and has continued to advocate for the credit union movement.

The California Credit Union League would like to congratulate Senator Atkins on this historical run, and we look forward to working with Senator McGuire in his new role!

When it comes to PAC and political events, this summer was jampacked!

We kicked off our July with our 13th annual Multi-Network Golf Tournament at Glendora Country Club where more than 150 credit union leaders from two dozen credit unions came together to support the Leagues’ PAC, raising a record-breaking amount of $131,000! THANK YOU to our sponsors, raffle prize donors, volunteers and attendees for helping make this event a tremendous success!

Over the past 3 months, the Leagues’ Advocacy Team and our CU political professionals met with 19 credit union allies, both in their respective legislative districts and in Washington, DC!

During these political events, we have uninterrupted time to sit down with our representatives and discuss topics that are impacting credit unions today. Topics discussed were the high cost of living, artificial intelligence (AI), financial elder abuse, the homeowner’s insurance crisis and the importance of financial wellness.

Despite these struggles, our credit union leaders expressed their appreciation of how credit unions have continuously put their members first and worked with them every step of the way. Whether it’s modifying a members’ loan or hosting a financial literacy and senior scammer event, credit unions are working every day to help make a difference in the lives of their members and it’s events like these where we can ensure our lawmakers understand that.

For a list of credit union leaders whom we met with, please see below.

• CA State Legislators: Senator Roger Niello (SD6), Senator Janet Nguyen (SD 36), Senator Catherine Blakespear (SD 38), Assemblymember Phil Chen (AD 59), Assemblymember Diane Dixon (AD 72), Assemblymember Laurie Davies (AD 74), and Kristie Bruce Lane (candidate for Assembly District 76).
• CA Federal Representatives: Rep. Salud Carbajal (CA-24), Rep. Julia Brownley (CA-26), Rep. Brad Sherman (CA-32), Rep. Pete Aguilar (CA-33), Rep. Kamlager-Dove (CA-37), Rep. Rob Garcia (CA-42), Rep. Maxine Waters (CA-43), Rep. Lou Correa (CA-46), Rep. Jimmy Panetta (CA-19), Rep. Juan Vargas (CA-52), Rep. Norma Torres (CA-35), Rep. Ted Lieu (CA-36) and Rep. Josh Harder (CA-9).
• NV Federal Representatives: United States Senator Jacky Rosen, Rep. Mark Amodei (NV-1), Rep. Dina Titus (NV-1), Rep. Steven Horsford (NV-4) and Representative Susie Lee (NV-3).

Thank you to the credit unions who graciously offered to host our events and those of you who attended and generously supported! The member impact stories you share during these events help us illustrate the many ways in which credit unions serve their community and have a tremendous impact on protecting the credit union movement, so thank you!

Interested in joining our next political advocacy event? Checkout our political events calendar here and rsvp to Angelica Pappalardo at angelicap@ccul.org

Regulatory Update:

Meetings with Regulators – Since the beginning of 2023, the Leagues have hosted the following meetings with regulators and League members:

• Assistant Secretary, Graham Steele, of Financial Institutions at U.S. Treasury – Met with Assistant Secretary Steele of U.S. Treasury during Hike the Hill.
• Consumer Financial Protection Bureau (CFPB) Senior Officials – Met with senior officials at the CFPB headquarters during Hike the Hill.
• DFPI Commissioner, Clothilde “Cloey” Hewlett and Deputy Commissioner Purvi Patel – Met credit union leaders during the Shapiro Summit CEO Roundtable and California Government Relations Rally (GRR).
• DFPI General Counsel, Avy Mallick – Keynote speaker for the Leagues’ first-ever 2023 CU Impact event. His session covered an overview of the DFPI’s position on community and social impact, including helping underserved communities, and financial well-being for all.
• NCUA Chairman Todd Harper – Met at CUNA’s Government Affairs Conference (GAC).
• Current Top Regulatory Issues and Updates – The following reflects items that the League is engaged in and/or tracking:

National Credit Union Administration (NCUA)

• NCUA – Board Member Rodney Hood. Board Member Rodney Hood’s term ends in August, and with a Democrat is expected to take his place, all eyes turn to the Biden Administration for news of who that individual might be, though no successor has been named. Therefore, Hood has stated he’s inclined to stay on the board until his replacement has been appointed and confirmed.
• NCUA – Consumer Financial Protection. Chairman Harper would like to expand the agency’s Office of Consumer Financial Protection with the goal of creating a dedicated consumer compliance examination program for “large, complex credit unions.” While this plan may be well-intentioned, we believe altering the agency’s risk-focused examination process and increasing examination-related expenditures is not warranted.
• NCUA – National Credit Union Share Insurance Fund (NCUSIF). Harper has been pushing for statutory changes to the FCU Act in order to remove the 1.50% statutory ceiling on the National Credit Union Share Insurance Fund’s (NCUSIF) capitalization, permit premium assessments when the Fund’s equity ratio exceeds 1.30%, and institute a risk-based premium system. We disagree with Harper’s suggested amendments because we believe drastic changes are unnecessary given the reliability and strength of the NCUSIF over the years.
• NCUA – Third Party Vendor/CUSO Authority. Harper has been calling on Congress to amend the FCU Act to provide the agency with direct supervisory authority over third party vendors and CUSOs citing ongoing concerns to the NCUSIF, particularly in cases of cybersecurity risk. We are very cautious about this priority and are working through thoughts and considerations about it. For starters, not only is there a concern over a likely increase in the agency’s budget to obtain and train qualified examiners, but it is very unlikely that examiners will have the true expertise to examine TPV and CUSOs. For example, if a credit union has an insurance CUSO, will an examiner have the extensive knowledge of state related insurance laws, such as those in California?
• NCUA – Climate-Related Financial Risk RFI. The NCUA has recently issued a request for information (RFI) regarding climate-related financial risk. This RFI concentrates on current and future climate and natural disaster risks faced by credit unions, related entities, their members, and the National Credit Union Share Insurance Fund (NCUSIF). The Leagues have submitted a comment letter expressing concerns about mandatory reporting procedures for credit unions. We believe that credit unions are best equipped to understand their operations, membership fields, and potential risks. Therefore, we encourage the NCUA to provide support through guidance and education, enabling credit unions to voluntarily develop tailored approaches based on their specific circumstances, geographic locations, unique risk profiles, and member needs.

Consumer Financial Protection Bureau (CFPB)

• CFPB’s Constitutionality. The U.S. Supreme Court will be hearing arguments potentially as early as October about the seeking reversal of the Fifth Circuit panel decision in Community Financial Services Association of America Ltd. v. CFPB. In that decision, the panel held the CFPB’s funding mechanism violates the appropriations clause of the U.S. Constitution and, as a remedy for the constitutional violation, vacated the CFPB’s payday lending rule (Payday Rule).
• CFPB – 1071 Small Business Data Collection Lawsuit. Texas Bankers Association, Rio Bank, and American Bankers Association filed a preliminary injunction to the Texas federal district court to halt implementation of the CFPB’s 1071 Small Business Data Collection rulemaking. The court granted the motion; however, it is not nationwide and only applies to the plaintiffs and their members. CUNA, Cornerstone League, and Rally Credit Union of Texas filed a joint emergency motion for preliminary injunction in the Texas federal district court. This preliminary injunction seeks to expand to credit unions and all financial institutions nationwide covered by the rule.
• CFPB – Credit Card Penalty Fees (Reg. Z) Proposal. The CFPB issued a proposal that would amend Regulation Z, which implements the Truth in Lending Act, by lowering the safe harbor to $8 (down from $30 for first time and $41 for subsequent late payments), end the automatic annual inflation adjustment, and cap fees at 25 percent of the minimum payment. The League submitted a comment letter on May 3. The CFPB is expected to finalize this proposed rule by October.
• CFPB – Overdraft and Insufficient Fees Proposals. The CFPB plans to address overdraft fees and fees for insufficient fees with a pre-rule activity for both anticipated in November 2023.
• CFPB – Open Banking. One of Director Chopra’s leading priorities is the concept of “open banking.” The CFPB is working on a proposed rule and if codified, the open banking rule will enable consumers to own, access and share their financial data however and with whomever they choose. The proposed rule is expected to be issued around October and finalized in 2024. We are concerned about the cost burdens in order to remain compliant. We believe that this will not create competition in the marketplace because credit unions, particularly smaller sized CUs, will suffer. Larger sized institutions with larger tech budgets and more manpower will gain an unfair advantage because they’re able to implement open banking faster and more cost effectively.

California Department of Financial Protection and Innovation

• DFPI – PMI Waiver. Currently for state chartered credit unions, 10 CCR §30.802 states that any obligation secured by a lien on real property with a loan to value in excess of 80% must have private mortgage insurance (PMI). PMI is not required on junior liens for California state banks and federal credit unions. The League has been in discussions with the DFPI for a number of years, and the Department recently informed the League that they agree the current regulation is too restrictive and will be issuing proposed rulemaking soon. However, since rulemaking will take 1-2 years, they will be issuing a blanket waiver in the meantime. The DFPI is still going through a detailed drafting process for the waiver and it should be ready very soon.
• DFPI – Crypto Currency Guidance. As directed by Governor Newsom’s executive order, the DFPI is intending to issue guidance on cryptocurrency for state chartered credit unions by late summer/early fall of 2023.

California Privacy Protection Agency (CPPA)

California Consumer Privacy Act. The California Office of Administrative Law approved the first final rulemaking package proposed by the California Privacy Protection Agency (CPPA). The Regulations, which are now a part of the CCPA, were expected to take effect March 29, however, the Sacramento County Superior Court agreed to delay enforcement of CCPA/California Privacy Rights Act (CPRA) until March 29, 2024 — one year after the California Privacy Protection Agency issued the final regulations in March 2023. This was due to a lawsuit that was filed by the California Chamber of Commerce. Statutory changes under the CCPA/CPRA took effect on January 1, 2023 and remain in force despite the court’s ruling. The League submitted testimony and multiple comment letters during the first round of rulemaking. The Agency has issued further proposed regulations that cover cybersecurity audits, risk assessments, and automated decision-making. The League is tracking this new agency and prepared to submit further comment letters.

Upcoming Political Events & Scheduling PAC Presentations:  

To check out our upcoming political events, please click here. 

For more information about our upcoming events, to RSVP or to schedule a PAC presentation, please contact the Leagues Political Advocacy Manager, Angelica Pappalardo at angelicap@ccul.org   

Take your advocacy program to the next level!  

The California and Nevada Credit Union Leagues have several opportunities coming up for those seeking to amplify their credit union’s advocacy program.  

What’s Happening on Capitol Hill:  

The Credit Card Competition Act (H.R. 3881 in the House of Representatives; S. 1838 in the Senate) was introduced in Congress. The bill proposes to drastically change the credit card interchange system. Specifically, the bill requires that card issuers offer consumers credit cards that can be processed on multiple networks.  

The bill takes power away from card issuers, like credit unions, and puts it in the hands of retailers and merchants. Currently, consumers can access credit cards with safe and reliable networks offered by credit unions and other financial institutions. The bill would change that dynamic. Vendors would have the option to choose what network a credit card transaction is paid through. 

A big thank you is owed to League members who participated in Connect for the Cause. Over 5,000 messages have been sent to Congress to oppose the Credit Card Competition Act.    

What’s Happening in Sacramento and Carson City:  

 June 2nd marked the house of origin deadline in the California State Legislature. The house of origin deadline is the official halfway point in the legislative cycle and means that bills must pass out of their original house to be considered for the remainder of the legislative session. The California Credit Union League has been engaged on nearly 40 measures this year and some of these did not meet this deadline, meaning they are “dead” for the year. Two of our top priority bills that we opposed are not moving forward, AB 331 and SB 809. AB 331 would have required credit unions to run a costly and labor-intensive impact report of all automated decision technologies, while SB 809 would have put in new burdensome requirements on background checks. The League is excited about these two victories. Despite these two wins, financial literacy in schools will have to wait yet again as AB 984 did not proceed forward this year.  

The League is still working on numerous pieces of legislation as the session progresses and heads for the September 14th end of session deadline.  These next few weeks will be full of committee hearings where we will be focused on the following few bills:  

• SB 278 (Dodd) is a bill dealing with elder financial abuse liability. The League wants to see a handful of amendments, most notably making the safe harbor more workable for credit unions. To coincide with the lobbying efforts, we launched a grassroots Connect for the Cause campaign encouraging Assemblymembers to oppose the bill unless it is amended. As of June 23, nearly 1500 messages have been sent to the California State Assembly.  
• SB 478 (Dodd) is a hidden “junk fee” bill and the League is working to get a clarification that it does not apply to financial services. 
• SB 399 (Wahab) is a bill that would limit employer political and regulatory speech and the League remains strongly opposed. 

The Nevada State Legislature has officially adjourned! After wrapping up the 120 days of the 82nd session, the legislature was called into back-to-back special sessions, the first to pass an infrastructure budget bill and the second to finish negotiations and pass a bill to bring the A’s to Las Vegas.  

On the credit union front, the end of the legislative session was relatively drama free, which is a positive. Throughout the session the Nevada Credit Union League worked with legislators on a dozen or so pieces of legislation to ensure favorable outcomes for credit unions. A full legislative report will be made available to all NCUL members soon outlining the various pieces of legislation that NCUL advocated on this legislative session. A few favorable outcomes included; ensuring the ability to still have arbitration clauses in contracts for GAP waiver and credit life insurance products (AB 439), a bill to bring financial literacy into the high school (AB 274) and protecting the work of years past to ensure our various carveouts in the privacy and data collection space were not impacted 

What’s Happening in Regulatory Advocacy:   

• Regulators – Amplify your credit union voice further through your active participation in regulatory meetings!  Regulatory meetings provide a platform for credit union advocates to express their concerns, share insights, and provide real-life examples of how regulations impact credit unions and their members. By attending these meetings, you ensure that the unique needs and perspectives of credit unions are heard and considered. 

Meetings with regulators and League members so far in 2023: 

1. DFPI General Counsel, Avy Mallick – Keynote speaker for the Leagues’ first-ever 2023 CU Impact event. His session covered an overview of the DFPI’s position on community and social impact, including helping underserved communities, and financial well-being for all.  
2. DFPI Commissioner, Clothilde “Cloey” Hewlett and Deputy Commissioner Purvi Patel – Met credit union leaders during the California Government Relations Rally (GRR). 
3. NCUA Chairman Todd Harper – Met at CUNA’s Government Affairs Conference (GAC).

    

   Pending Regulatory Proposed Rules – The following proposed rules are open for comment. Please consider whether and how these proposals would affect your credit union. You have the power to let your voice be heard and make a difference! 

For more information, please contact Lisa Quaranta at lisaq@ccul.org. 

Upcoming Political Events & Scheduling PAC Presentations:  

To check out our upcoming political events, please click here. 

For more information about our upcoming events, to RSVP or to schedule a PAC presentation, please contact the Leagues Political Advocacy Manager, Angelica Pappalardo at angelicap@ccul.org   

Take your advocacy program to the next level!

The California and Nevada Credit Union Leagues have several opportunities coming up for those seeking to amplify their credit union’s advocacy program.

Stephanie Cuevas: New Leagues SVP of Federal Government Affairs

Please join us in welcoming Stephanie Cuevas to the League team. Stephanie is a skilled advocate with a proven track record of advancing legislative priorities at the local, state, and federal levels. With more than 10 years of experience in community outreach and policy development, she understands the importance of effective advocacy to influence decision-makers. She is dedicated to utilizing her skills to enact policies that will defend and advance the cause of credit unions. Stephanie is excited to collaborate with credit unions in Nevada and California to promote policies in Congress that enhance exceptional member services.

What’s Happening on Capitol Hill:

On Capitol Hill legislators are closely following the Silicon Valley Bank (SVB) failure and developments in the financial services industry. On March 28 at 10 am ET the Senate Banking Committee will host a hearing with representatives from the Federal Deposit Insurance Corporation (FDIC), Federal Reserve and Department of Treasury to discuss the SVB failure. The House Financial Services Committee will host a hearing with the same witnesses on March 29 at 10 am ET. In light of recent developments, now is an opportunity to highlight positive credit union differences. During turbulent economic times, credit unions continue to offer excellent member services and safe financial products that promote financial wellbeing in local communities.

What’s Happening in Sacramento and Carson City:

The legislatures in both states are currently in session and bills have been introduced at a record pace.  In Sacramento, nearly 2,700 bills have been introduced and over 700 thus far in Carson City. In Sacramento, financial literacy is one of the biggest topics of the session with nearly 10 bills introduced on the topic. In addition to financial literacy, there have been bills introduced on elder financial abuse, remote online notarization and debt collections. In Carson City, the bills that the Nevada State Legislature are considering have not been aimed at credit unions, but we are still waiting on about a hundred more bills to be introduced. In good news, so far there is one bill on financial literacy in Nevada. For up-to-date information, we recommend you subscribe to our advocacy blog: click here to subscribe.

What’s Happening in Regulatory Advocacy:

• Regulators – Meetings with regulators and League members so far in 2023:

1. 1. NCUA Chairman Todd Harper – Met at CUNA’s Government Affairs Conference (GAC).
   2. DFPI Commissioner, Clothilde “Cloey” Hewlett and Deputy Commissioner Purvi Patel – Will be addressing credit union leaders during the upcoming California Government Relations Rally (GRR).

• Pending Regulatory Proposed Rules – The following proposed rules are open for comment. Please consider whether and how these proposals would affect your credit union. You have the power to let your voice be heard and make a difference!

For more information, please contact Lisa Quaranta at lisaq@ccul.org.

Join us for this year’s California Government Relations Rally (GRR)!

On April 10-11, we will connect with lawmakers, statewide elected officials, and regulators on critical issues impacting credit unions and their members.

To register and schedule of events, please CLICK HERE.

For questions or more information about CA GRR, please contact the Leagues’ Senior Vice President of State Government Affairs, Robert Wilson at robertw@ccul.org

Upcoming Political Events & Scheduling PAC

One of the best ways to get involved in advocacy is through participating in PAC!

If you are interested in setting up an educational PAC 101 presentation with your credit union or Network we have both virtual and in-person options available to help increase awareness and participation to PAC.

In addition to PAC presentations, you can also attend a district fundraiser or check presentation event that the League hosts! To ensure everyone can budget and schedule appropriately, we have created the attached fundraising calendar which has a few clickable links:

1. To read the members bio, click the legislator’s name.
2. To see their district map, click their district number.
3. To contribute directly online, click their remit info.

For more information about our upcoming events, to RSVP or to schedule a PAC presentation, please contact the Leagues Political Advocacy Manager, Angelica Pappalardo at angelicap@ccul.org

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