January 16, 2014
Thursday Edition
Tax reform bubbles up with new message

Comprehensive Tax Reform looked all but dead a few weeks ago. Now, it appears the House is pushing out a new tax message. The new message does not have a timetable on a bill or a language release like what happened in the Senate late last year. The House Ways and Means Committee looks like it is educating the public on why America needs tax reform.

A new tax reform video has been released via YouTube, as well as a new tax reform Facebook page and a new Twitter page. The message on the Facebook page states that tax reform has two primary goals: make the tax code simpler and fairer for families and the other is to strengthen the economy. You can bet the bankers will be jumping on this new message with a renewed effort toward credit unions. All credit unions are urged to continue to push out the Don't Tax My Credit Union message. Like the Facebook page so you can see the newest information that is being pushed out by the House Ways and Means Committee.

Read more on the Ways and Means website.
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Sens. Carper, Blunt reintroduce legislation to protect consumers from fraud

Wednesday, Sens. Tom Carper (D-DE) and Roy Blunt (R-MO) introduced the Data Security Act of 2014, which would help better protect consumers from identity theft and account fraud and would establish clear and consistent rules of the road nationally for public and private institutions to follow to prevent and respond to data breaches.

The bill would require entities such as financial institutions, retailers, and federal agencies to better safeguard sensitive information, investigate security breaches, and notify consumers when there is a substantial risk of identity theft or account fraud. These new requirements would apply to businesses that take credit or debit card information, data brokers that compile private information, and government agencies that possess nonpublic personal information.

The Data Security Act would better protect consumers by replacing the current patchwork of state laws and establishing one set of national standards. Today, 49 states and U.S. territories have enacted laws governing data security and data breach notification standards. Inconsistent and conflicting state-by-state standards force public and private entities to comply with multiple regulations, leaving many consumers in a confusing web of regulation depending on the state. This legislation would provide clarity and certainty to all parties involved. 

Click here to read the complete press release.

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2013 Credit Unions for Kids funds due

Can you believe it’s already 2014?! If your credit union has not sent in its 2013 Credit Unions for Kids fundraising dollars – please do so today. Simply submit this form (which includes mailing instructions) along with your fundraising check. Funds must be received on or before Jan. 24 to count towards 2013 fundraising totals.

Every single dollar you submit will be returned to your local hospital. Hospitals receive funds from the corporate office on a quarterly basis along with a detailed report of the credit unions who submitted the funds.

Thank you for submitting the simple form along with your funds as soon as possible! And thank you for making miracles happen in your community.

If you have questions about fund remittance, please contact Leonard Parkhurst, director of the Southeastern Credit Union Foundation.

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Biz Kid$ second season now airing on American Forces Network

On Jan. 4, the second season of Biz Kid$ premiered worldwide as new programming from the American Forces Network (AFN) on military bases overseas. Biz Kid$ is the Emmy Award winning and credit union funded public television series that teaches kids about money management and entrepreneurship.

In June of 2012, the first 26 episodes of Biz Kid$ launched on AFN. The license for those episodes has been renewed and with the second season added, a total of 39 Biz Kid$ episodes will be airing on the AFN family channel to military bases around the world. 

Click here for more information about Biz Kid$.

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In This Issue
Thursday Edition
Tax reform bubbles up with new message
Sens. Carper, Blunt reintroduce legislation to protect consumers from fraud
2013 Credit Unions for Kids funds due
Biz Kid$ second season now airing on American Forces Network
LSCU & Affiliates Media

President's Quarterly Report
LSCU & Affiliates President/CEO Patrick La Pine looks at the League's activities for the fourth quarter which includes an office move in Tallahassee, a new LEVERAGE hire and an update on tax reform.

Tax Reform's New Message
The House is continuing to push tax reform, just in a different way.

Upcoming Event Deadlines
TODAY Last day to receive "early bird" rate for Security & Robbery Training – Birmingham
Jan. 28 Last day to receive "early bird" rate for Small Asset Size Conference - Orlando
Jan. 29 Last day to receive "early bird" rate for Small Asset Size Conference - Ft. Lauderdale
Jan. 30 Last day to receive "early bird" rate for Small Asset Size Conference - Birmingham
Upcoming League Events
TODAY Fee Income 2014 Challenges-Issues
Jan. 22 Loan Member Has Died: Now What?
Jan. 23 Consumer Loan Portfolio Grading
Jan. 28 Reg CC Funds Availability & More
Jan. 29 Compliance & BSA for SR Mgmt-Board
Jan. 30 What is Personal Tax Return Telling Me?
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