November 26, 2013
Tuesday Edition
Roby expected to land spot on powerful House Appropriations Committee

Rep. Martha Roby (R-Montgomery) has been offered a coveted spot on the powerful House Appropriations Committee, the panel that determines how the federal government will spend the people’s money.

“I am being encouraged by my colleagues to accept an assignment on the House Appropriations Committee,” said Roby. “This is so important to the Second District because this is the committee that holds the purse strings and controls federal spending, including funding for all military programs.”

Roby will join fellow Alabamian Rep. Robert Aderholt, R-Haleyville, on the committee, but it won’t come without some tradeoffs.

Roby told a small group of her close supporters in the Second District over the weekend that she would likely have to give up her seats on the Armed Services Committee, the Education and Workforce Committee, and the Agriculture Committee. She believes, however, that the move will be worth it because the Appropriations Committee has jurisdiction over those areas, as well as many others.

Click here to read the complete story at Yellowhammer News. 

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Washington wire

Tax Reform
Last week three draft tax reform proposals were released in the Senate. Senate Finance Committee Chairman Max Baucus elected to release components of a comprehensive reform bill, as opposed to putting the entire proposal out for public consumption. The three pieces dealt with international tax reform, tax administration, and tax accounting rules. Additional information regarding these proposals can be found here. Sources tell CUNA and the League that additional components that would round out a broader reform effort could be released before the end of the year.

The next steps are not immediately clear, but to a large extent the immediate future of tax reform is linked pretty closely to the outcome of the budget conference committee (mid-December), the debt ceiling, and (to a lesser extent) the appropriations process. The debt ceiling seems to be the next potential catalyst for significant movement in the tax reform process and that reinforces the notion that tax reform will continue to be a front burner issue next year, even though it seems to be simmering at the moment. Right now it looks like the House will not release any tax reform language this year.

Housing Finance Reform
Last week, the Senate Banking, Housing, and Urban Affairs Committee held what may be the final two hearings of the year on housing finance reform. These hearings focused on the structure of the secondary market regulator and on transition issues.

With the hearings over, staff is now focusing on drafting a new bill which is expected to be released in December. The new bill is expected to build off of the Corker-Warner effort. CUNA and other trades were asked to submit their proposed changes in legislative language last week; CUNA submission closely aligned with the recommendations CUNA made in testimony on Nov. 5.

If new legislation is introduced in December, it is possible that it could be marked up in January or February.

Click here for the complete legislative update.

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Shop Amazon and support the Southeastern Credit Union Foundation

The League has set up an effective and easy way to support the Southeastern Credit Union Foundation (SECUF) through Amazon.com. Amazon.com has set up an "AmazonSmile" program specifically for the foundation where it will direct .5 percent of purchases-- made through this link --back to the foundation.

Simply click on the link, sign in, and start shopping! This is perfect timing since Amazon.com has a vast selection of gifts and is offering great savings during Black Friday and Cyber Monday. Take this opportunity to support the foundation.

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LEVERAGE partner Vining Sparks presents Economic Flash

Through its partnership with Vining Sparks, LEVERAGE is able to share the company's economic report, Economic Flash, by Craig Dismuke. Craig is a senior vice president and chief economic strategist for Vining Sparks IBG. He has appeared on CNBC, Bloomberg TV, Fox Business, and Reuters TV discussing the U.S. economy, as well as being quoted frequently in the financial news.

Click here to read the Economic Flash: FOMC Looking for an Exit. Contact a LEVERAGE Business Development Consultant for more information on Vining Sparks.        

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InfoSight spotlight: Field of Membership expansion

NCUA's rules for handling Field of Membership (FOM) expansions are somewhat complex and depend on the nature of the request and the FCU's charter at the time of the expansion request application. To help you remain in compliance, the Field of Membership Expansion topic on InfoSight provides links to the laws and regulations that govern FOM Expansion along with a link to the NCUA Chartering and Field of Membership Manual of Federal Credit Unions.

Review the information today to help your credit union remain in compliance.

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In This Issue
Tuesday Edition
Roby expected to land spot on powerful House Appropriations Committee
Washington wire
Shop Amazon and support the Southeastern Credit Union Foundation
LEVERAGE partner Vining Sparks presents Economic Flash
InfoSight spotlight: Field of Membership expansion
LSCU & Affiliates Media


2013 Leadership Development Conference Wrap Up
Check out a wrap-up video from the Leadership Development Conference, Nov. 5-8. The video features some of the speakers and attendees. Make plans to attend next year. 

2014 CUNA GAC
CUNA President/CEO Bill Cheney promotes CUNA's 2014 Governmental Affairs Conference.

Upcoming League Events
Dec. 3 Debt Series in Collection Process
Dec. 4 Fresh Look at Robbery Preparedness
Dec. 5 Cracking Code/Risk Based Exams
Dec. 10 Managing Day to Day ACH Risk
Dec. 11 Document Security Program Info
Dec. 12 Steps to Effective Expense Control
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