The Point: March 5, 2013

More NY reps co-sponsor MBL, supplemental capital bills

Photo caption: Reps. Richard Hanna, Dan Maffei, José Serrano & Paul Tonko are the most recent co-sponsors.

New York congressional representatives continue to support priority credit union bills, with four congressmen signing on as co-sponsors since last Monday, Feb. 25.

Reps. Richard Hanna (R), Dan Maffei (D) and José Serrano (D) have co-sponsored the Small Business Lending Enhancement Act (H.R. 688), which would raise the credit union MBL cap to 27.5 percent of assets. They join New York Reps. Carolyn McCarthy (D), who co-introduced the bill, Timothy Bishop (D), Gregory Meeks (D) and Paul Tonko (D).

Tonko and Maffei have also signed on as co-sponsors of the Capital Access for Small Business and Jobs Act (H.R. 719), which would provide credit unions with the ability to raise capital from alternative sources. The bill was introduced by Rep. Peter King (D) and previous New York co-sponsors include: Reps. Timothy Bishop (D), Richard Hanna (R) and Gregory Meeks (D).

CUs asked to share furlough assistance info

CUNA, Credit Union Journal and Credit Union Times are all featuring stories of credit unions' efforts to assist members facing furloughs due to the federal spending cuts. To help streamline and maximize positive media coverage, the Credit Union Association of New York is asking all New York credit unions that are providing such assistance to notify the member services team at or (800) 342-9835, ext. 8546.

For examples of credit unions' efforts for furloughed members, see the related News Now article. Notably, AmeriCU Credit Union is among those featured in the article.

CUNA offering free compliance audio conference Thursday

CUNA is now offering its popular Pressing Regulatory and Compliance Issues audio conference series free to member credit unions. The first audio conference of the year will be held at 2 p.m. this Thursday, March 7, and online registration is available.

The agenda will feature:

  • the latest legislative developments affecting credit unions;
  • an update on CFPB rules, including international remittance transfers, mortgage servicing, ability to repay and originator compensation;
  • NCUA issues, including pending proposals and a summary of the February NCUA board meeting;
  • proposals currently open for comment;
  • the three Reg Z provisions that go into effect June 1, 2013; and
  • the credit agency rating regulation that goes into effect June 11, 2013.

The remaining Pressing Regulatory and Compliance Issues audio conferences are scheduled for June 4, Sept. 5 and Dec. 5. Topics will be announced as they are finalized.

NCUA posts OSCUI workshop schedule

NCUA's Office of Small Credit Union Initiatives (OSCUI) is once again offering credit union workshops across the country-including two in New York State. The workshops will focus on: issues facing credit unions; examination expectations; growth and leadership opportunities; fair lending; and strategic planning.

Breakout sessions on regulatory compliance will also be offered, along with a special presentation on employee dishonesty from CUNA Mutual Group.

A New York City workshop is scheduled for April 27, and a Buffalo workshop is scheduled for Sept. 28. For more information, visit NCUA's website.

National industry news & CUNA reports

To view today's issue of CUNA News Now, click here.

To view the most recent CUNA Regulatory Advocacy Report, click here. (CUNA member log-in/registration required.)

To view the most recent CUNA Legislative Update, click here. (CUNA member log-in/registration required.)