Washington State Legislature Adjourns Sine Die after Passing Supplemental Budget and Overriding Governor’s Vetoes

The Washington State Legislature adjourned sine die after passing a supplemental operating budget with bipartisan support in both chambers. The supplemental budget, which makes midcourse adjustments to the two-year 2015-17 budget, will run through June 2017.

Washington Legislative Week in Review

Washington State Legislature called into special session.

Compliance Center: NCUA Board Chairman Matz Outlines Five Areas of Regulatory Relief

Matz says supplemental capital, fields of membership among regulatory relief targets; your question answered about cash advances; plus this week’s legal briefs.

McWatters Favors Secondary Capital, Working Group Formed

NCUA Board Member McWatters wants supplemental capital included in new RBC proposal; Chair Matz announces supplemental capital and field of membership working groups.

NCUA’s Mestger Supports Supplemental Capital Legislation, RBC Rule Changes

NCUA Director Rick Metsger announced support for Supplemental Capital in an address to Massachusetts credit unions this week. As well, he reiterated regulator plans to significantly review and adjust the proposed risk-based capital rule.

U.S. Rep. Derek Kilmer Agrees to Co-Sponsor Supplemental Capital Bill

U.S. Rep. Derek Kilmer will add his name to the Capital Access for Small Businesses and Jobs Act, becoming the fifth member of the Northwest congressional delegation to support giving credit unions access to supplemental capital.

U.S. Rep. Suzan DelBene Agrees to Co-Sponsor Supplemental Capital Bill

U.S. Rep. Suzan DelBene has added her name to the Capital Access for Small Businesses and Jobs Act, saying supplemental capital would “allow financially healthy credit unions to continue meeting the needs of their customers and strengthening our economy.”

Rep. Denny Heck to Co-Sponsor Supplemental Capital Bill

U.S. Rep. Denny Heck became the first member of the Washington delegation to add his name to the Capital Access for Small Businesses and Jobs Act this week, saying “supplemental capital lets us avoid the perverse situation of successful credit unions having to turn away deposits.”

House Subcommittee Hears Credit Union Regulatory Burden Issues

Credit unions leveraged a rare opportunity to share details about the regulatory burden during a Congressional hearing yesterday. The hearing sets the stage for a regulatory relief bill.

Keesee States Case for Supplemental Capital at CUNA GAC

NWCUA Board Chair Debie Keesee took part in a panel discussion about supplemental capital and its relationship to credit unions’ future growth potential during last week’s CUNA GAC, joining CUNA’s Mike Schenk, a Utah credit union regulator and a fellow credit union CEO in dispelling myths and sharing information.

MBL Bill Introduced in House, Supplemental Capital Bill Expected Today

A bill that would more than double the MBL cap was introduced in the House of Representatives this morning, and another that would give credit unions access to supplemental capital is expected to be introduced in the House this afternoon.

NWCUA Board Chair Makes National Case for Supplemental Capital

The Hill, considered a must-read for federal lawmakers, showcased the work this week of NWCUA Board Chair Debie Keesee, publishing her op-ed piece supporting supplemental capital.

Oregon’s Bonamici Co-sponsors Supplemental Capital Bill, Continues Championing Credit Union Issues

Freshman Congresswoman Suzanne Bonamici (OR-1) added her name to the co-sponsor list for a bill that would allow the NCUA to authorize supplemental capital for well-managed credit unions and count it toward net worth.

The Case for Supplemental Capital: A Credit Union Shares its Story

Credit unions face the prospect of turning away new members without the ability to raise supplemental capital. Asking for Congressional support is on the agenda for the June “Hike the Hill” event.

Blumenauer Co-Sponsors Credit Union Supplemental Capital Bill

Rep. Earl Blumenauer has signed on as a co-sponsor of H.R. 3993, a bill introduced last month that would allow credit unions to accept supplemental capital.

NWCUA Issues Localized Supplemental Capital Information

As supplemental capital legislation progresses in Congress, the NWCUA has issued talking points to help Northwest credit union leaders discuss the issue with legislators and the media.

Supplemental Capital Legislation Gathers Steam in D.C.

A bill was introduced in Congress last week that would allow credit unions to accept supplemental capital, enabling them to offer more affordable financial services to consumers and to grant more job-creating loans.

Progress Convincing Regulators, Congress to Support Supplemental Capital

With the recent influx of new credit union members and the recession impacting some credit unions’ capital ratios, Congress will hear more about the need for supplemental capital in 2012.