Newly ordered Alabama task force to examine concerns with predatory lending

Yesterday, Gov. Robert Bentley established a predatory lending prevention task force consisting of a minimum of 33 members. The Executive Order creating the Alabama Consumer Protection Task Force states that the Alabama Credit Union Association will have one appointment, the Alabama Credit Union Administration will have two appointments, and the legislature will tap appointees, as […]

Image Campaign impact reaches as far as Ireland

LSCU Cooperative Image Campaign recently released the latest ad in one of the most successful cooperative advertising campaigns ever presented by a League under its “Better Name for Banking” label. But the interesting news is the reach the comic videos have had, as evidenced by a video produced by a credit union in County Cork, […]

Alabama Speaker of the House found guilty on ethics charges

On Friday evening, a jury in Lee County, AL, convicted Alabama House Speaker Mike Hubbard (R – Auburn) on 12 of 23 felony counts stemming from charges that he misused his office for personal gain. As part of the conviction, he has been removed from office. The jury heard from about 40 witnesses during 12 […]

Appropriations committee postpones CFPB’s payday lending proposal

Yesterday, LSCU learned the House Appropriations Committee approved a bipartisan amendment to the Financial Services Appropriation that would postpone the Consumer Financial Protection Bureau’s payday lending proposal by a 30-18 vote, with most Democrats voting no. The postponement would be until the Bureau provides a report to Congress on the consumer impact of such a […]

House Appropriations Committee to review new bill and accompanying report

Today, the House Appropriations Committee will mark up the Financial Services and General Government Appropriations bill. The report to accompany the bill was released yesterday, and it includes several statements advancing credit unions’ concerns. The LSCU’s advocacy team worked diligently with Congressman Ander Crenshaw’s (R-Florida) staff to ensure that credit unions’ concerns were addressed in […]

Ambitious new proposed financial act may be too big to succeed

Yesterday, speaking to the Economic Club of New York, House Financial Services Committee Chairman Jeb Hensarling (R-Texas) revealed his Financial CHOICE Act to oust the Dodd-Frank Act. He called Dodd-Frank “a grave mistake Washington foisted upon the American people nearly six years ago,” further stating, “We need economic growth for all and bank bailouts for […]