July 3, 2014
Thursday Edition
Changes are in the works for RBC proposal, Fazio says at ACUC

The National Credit Union Administration will work as long as it takes to finalize practical regulations that govern asset risk at credit unions, Larry Fazio, NCUA director of the Office of Examination and Insurance, told a full house of credit union professionals Tuesday.

The large crowd had come to listen to a panel discussion about the state of NCUA's controversial risk-based capital (RBC) proposal during a special general session at CUNA's 2014 America's Credit Union Conference.

Answering a question about when the agency might finalize an RBC plan, posed during a Q&A with attendees, Fazio said, "There's a lot of work left to still be done." He added that the agency will spend "as long as it takes to get it right, and I don't know (how long) that will be because we're still in the re-engineering process."

Fazio acknowledged that the credit union system weathered the economic downturn well, but said the NCUA was tracking some credit unions who struggled with their assets, especially in those states hit hardest by the recession.

"I do think we have an opportunity to modernize our capital standards to bring them up to date, that's necessary," Fazio said, adding, "I think the trick, of course, is calculating it properly going forward--and certainly we want to get it right.

"A proposed rule is a place to start, it's not the end."

Reiterating comments made recently by NCUA Chair Debbie Matz, Fazio said all aspects of the proposal are still on the table for reconsideration.

"That doesn't mean we're going to make all the changes, but we're certainly going to take a fresh look at everything and continue to do research," Fazio said.

Click here to read the full article from CUNA News Now.

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Florida OFR commissioner to appear on C-SPAN this morning

Tune in to C-SPAN's Washington Journal this morning at 9:15 a.m. to see a live interview with Drew J. Breakspear, commissioner of Florida’s Office of Financial Regulation. Breakspear will be discussing emerging payment systems, including virtual currencies.

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Hotel group cutoff date extended for the Southeast Supervisory Committee Conference!

The Southeast Supervisory Committee Conference is right around the corner, Aug. 3-6, at the Grand Hotel Marriott Resort, Golf Club & Spa. Be sure to reserve your room by July 10 and lock in the hotel group rate.

The conference has a full agenda of the latest information and updates regarding credit union auditing, compliance, and fraud.

To learn more about the topics, speakers, and registration, visit the Southeast Supervisory Committee Conference event page. There you will find hotel information, conference details, and the agenda.

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LSCU offices closed Friday, July 4

The LSCU & Affiliates offices in Birmingham and Tallahassee will be closed Friday, July 4 in observance of Independence Day. Offices will re-open on Monday, July 7 at regular business hours. Additionally, there will be no eSignal on Friday.

The LSCU & Affiliates wishes everyone a safe and festive Fourth of July holiday.

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In This Issue
Thursday Edition
Changes are in the works for RBC proposal, Fazio says at ACUC
Florida OFR commissioner to appear on C-SPAN this morning
Hotel group cutoff date extended for the Southeast Supervisory Committee Conference!
LSCU offices closed Friday, July 4
LSCU & Affiliates Media


President's 2Q Video
The LSCU & Affiliates President/CEO Patrick La Pine provides an update from the second quarter and also looks ahead to the rest of the summer.

Upcoming Event Deadlines
July 15 Last Day to Register - LSCU BSA Essentials & Advanced Workshops - Mobile, AL
July 16 Last Day to Register - LSCU BSA Essentials & Advanced Workshops - Huntsville, AL
Aug. 1 Last Day to Register - Southeast Supervisory Committee Conference - Point Clear, AL
Aug. 5 Last Day for Early Bird Rate – LSCU Fall Regulatory Compliance Update – Tallahassee, FL
Aug. 7 Last Day for Early Bird Rate -  LSCU Fall Regulatory Compliance Update – Birmingham, AL
Sept. 8 Last Day to register - LSCU Fall Regulatory compliance Update - Birmingham, AL

Sept. 9 Last Day for Early Bird Rate – LSCU Collections & Bankruptcy School – Birmingham, AL

Sept. 10 Last Day to Register - LSCU Fall Regulatory Compliance Update - Birmingham, AL

Sept. 23 Last Day for Early Bird Rate – LSCU OFAC/BSA Basic & Advanced School – Tallahassee, FL

Sept. 23 Last Day for Early Bird Rate – LSCU Lending School – Birmingham, AL

Upcoming League Events
July 8 - Analysis of Financials & Ratios
July 9 - SAR Report Line by Line
July 13-16 - SE Regional Director's Conference
July 14 - The Rise of Bitcoin & Virtual Currencies
July 15 - New CFPB Income Verification Rules
July 16 - BSA Essentials & Advanced, Mobile
July 16-17 - Philosophy in Action Workshop Orlando
July 16 - Overdraft Protection Review
July 17 - BSA Essentials & Advanced, Huntsville AL
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