WASHINGTON (9/18/14)--State leagues and credit unions are making the most of the last days before Congress goes into its mid-term election recess with Hike the Hill visits and meetings with their federal regulator.
This week alone, credit union professionals and volunteers from 14 states have trekked to the U.S. Capitol to state their case for regulatory relief, data security standards and preserving the credit union tax status, among other topics.
National Credit Union Administration (NCUA) board members Rick Metsger and J. Mark McWatters shared their views of the regulator's risk-based capital (RBC) proposal with delegates from the Georgia Credit Union Affiliates, the Idaho Credit Union League and the League of Southeastern Credit Unions Tuesday.
McWatters indicated that a new RBC rule should be written with a "de novo" approach. He also cited the number of comment letters from credit unions and the letters from Congress as a sign that a second comment period is needed, the league's eSignal reported (Sept. 17). Metsger said that the release of the next draft is far down the road because of the sheer volume of comment letters submitted to the NCUA.
Members of the House Financial Services Committee, including ranking member Rep. Maxine Waters (D-Calif.) and Rep. Ed Royce (R-Calif.), met with delegates from the California and Nevada Credit Union Leagues.
The Wisconsin Credit Union League thanked soon-to-be-retired Rep. Tom Petri (R) for his support of member business lending during a Tuesday reception at Credit Union House. Wisconsin credit unions also met with Sens. Tammy Baldwin (D) and Ron Johnson (R).
Earlier in September, credit union leagues from Ohio, Iowa and New Mexico made the trip, and upcoming visits are scheduled by Montana, Illinois and the Dakotas. The Ohio Credit Union League met with 17 of the state's 18 congressional delegates, including meetings with Republican Reps. Steve Stivers and Brad Wenstrup (eLumination Sept. 17).
Over the course of the year, 32 states will have brought the credit union message to elected representatives and federal regulators through the program, sponsored by the Credit Union National Association and state leagues.
With congressional delegates heading back to their districts, there are still plenty of opportunities for credit unions to connect, however.
"With important issues on the federal and state level, such as our tax exemption, data breaches, payday lending and foreclosure concerns, talking to our elected officials in district is crucial to making sure our voice is heard in Washington and Lansing," said Dave Adams, president/CEO, Michigan Credit Union League (Monitor Sept. 17).