The House and Senate have both adjourned for their August in-district work period. While your Members of Congress are back in the district, we urge you and your staff to engage with them on three key priorities demonstrating the credit union difference. • NDAA: Urge your Members to oppose Section 2821 of the Senate NDAA [...]
This week in Washington, the House is in recess until Sept. 9. The Senate is expected to consider nominations for the posts of the Deputy Secretary of Defense and the Ambassador to the U.N. Last week, the U.S. House of Representatives passed H.R. 3375, the Stopping Bad Robocalls Act by a vote of 429-3. The [...]
When Equifax was breached by hackers, the personal information of 147 million consumers was potentially compromised. Now that the Federal Trade Commission reached an agreement with Equifax to pay up to $700 million in compensation, consumers are entitled to file for their portion of damages and have until Jan. 22, 2020, to file claims. By [...]
Congresswoman Martha Roby announced Friday that she will not seek a sixth term in Congress. Roby was first elected to Congress in 2010 after defeating Congressman and former longtime Montgomery Mayor Bobby Bright in one of the closest elections of the year. Prior to being elected to Congress, Roby worked as an attorney and served [...]
This week in Washington, several matters of interest to credit unions will be in hearings. Also, the House of Representatives may vote on a possible deal to raise the budget caps and the debt limit. In addition, the House has scheduled votes on H.R. 397, the Rehabilitation for Multiemployer Pensions Act; H.R. 2203, the Homeland [...]
The Financial Accounting Standards Board voted on July 17 to extend the deadline for conversion to the Current Expected Credit Loss methodology to January 2023 for all but the nation’s biggest publicly traded banks. CECL is used as shorthand for the new GAAP requirement to include expected life of loan (LOL) losses in the allowance for [...]