The LSCU & Affiliates fall Hike the Hill was another successful two days in Washington, D.C. The League and attendees met with 21 members or staff in just about eight hours. Each meeting was substantive with lots of issues being discussed. One of the more popular topics was data breaches and particularly the merchant side of it. Credit unions were able to give real examples of how the inequity in responsibilities of handling sensitive personal data. Attendees talked about the cost in reissuing cards and the fraud costs; especially when they didn’t cause the breach. Members of Congress were asked to look at reform and support higher standards for merchants.
The crush of regulations was also heavily talked about especially when it comes to the NCUA and the CFPB. Credit unions talked about changes needed at the CFPB. The cost of having to comply with burdensome regulation hit home. The status of Sen. Richard Shelby’s (R-AL) regulatory relief package was also discussed.
Two other standard topics were also brought up – MBLs and the credit union tax exemption. Credit unions gave examples of the need for raising the member business lending cap, while the League also advocated for support of H.R. 1133, Rep. Jeff Miller’s (R-FL) bill to exempt MBLs to military members from the credit union cap. While the League was at Hike the Hill, Rep. Alan Grayson (R-FL) co-sponsored the bill. Every member that the League met with during Hike the Hill was supportive of the credit union tax exemption.
The Hike began with an hour meeting with NCUA Board Member Mark McWatters. This is the third time this year Alabama and Florida credit unions have met with McWatters. See pictures from Hike the Hill on the LSCU Action Center Facebook page.