At a reception Tuesday evening at the Grand Hyatt, the LSCU & Affiliates honored Reps. Spencer Bachus (R-AL) and Alcee Hastings (D-FL)as its lawmakers of the Year. This was one of the major highlights of the third day of the CUNA GAC. Reps. Bachus and Hastings go out of their way to meet with credit unions during the GAC and Hike the Hill. They rarely leave the meetings to staff. Both have co-sponsored multiple legislation including supplemental capital and privacy notifications. Rep. Hastings, a member of Brightstar (where he got a loan for his first car), said he was humbled by the award because credit unions are businesses on the street and understand credit. Rep. Bachus said there has never been a more appropriate time for credit unions.
Also on Tuesday, the LSCU, along with the CA/NV and Georgia leagues, hosted two half hour sessions with NCUA Chairman Debbie Matz and Board member Richard Metsger. The meetings were in Town Hall formats with many questions centering on risk based capital. Metsger reminded credit unions there were still lots of time to discuss the proposal, submit a comment and that nothing would probably happen until the fall. Matz encouraged credit unions to take part in listening sessions this spring and summer. Metsger told credit unions that he reads all comment letters, especially those from credit unions and often calls to talk about their comments. The session also included the new CUSO regulation, member business lending, supplemental capital and specific questions on regulations.
Former Secretary of State Madeleine Albright told the crowd that credit unions were like Tom Hanks - everywhere, likeable and not misbehaving. That got a great response from the crowd. You can see the latest LSCU from the GAC video by clicking below. The video contains interviews with Reps. Bachus and Hastings. Check out more pictures on the
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