DECEMBER 2, 2016
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Dominoes U.S. Rep. Price’s Nomination to U.S. Secretary Post to Create Domino Effect in GA (Issue 1 of 5)
Assuming Georgia U.S. Rep. Tom Price is confirmed as the next Secretary of Health and Human Services, his move can be expected to create a cascade of job openings as others vie for his vacant U.S. House seat, leaving other job openings in the process.

  State Hearings on Cyber/Data Security to Produce Legislation (Issue 2 of 5)
State legislators have held an unusually heavy schedule of off-sesssion legislative hearings on cybersecurity, and one result may be new legislation designed to protect consumers against cybercrime.

  CUNA and NAFCU File Amicus Brief Supporting NCUA’s Motion to Dismiss MBL Lawsuit (Issue 3 of 5)
Two national credit union advocacy groups filed a friend-of-the-court brief in support of NCUA's motion to dismiss a lawsuit filed by a banker's group, which challenges NCUA's authority to issue regulations on member business lending.

  Register Now for State Governmental Affairs Day (Issue 4 of 5)
Registration is under way for the 2017 Grassroots Academy, a full-day immersion in legislative issues that affect credit unions, and the people who shape the environment in which the industry operates.

  Credit Unions in the News (Issue 5 of 5)
The credit union message continues to spread, as evidenced by coverage of the industry in a wide range of media outlets, from newspapers to magazines to the broadcast media.

PriceU.S. Rep. Price’s Nomination to U.S. Secretary Post
to Create Domino Effect in GA (Issue 1 of 5)

The political news in Georgia this week centered around the Georgia Congressman who has been nominated by President-Elect Trump for a post in his cabinet. Congratulations to U.S. Rep. Tom Price (R-6) from Roswell who was officially nominated to be the Secretary of Health and Human Services, beating out other individuals who were under consideration for the role. And while the national press on this recent nomination has focused on what this would mean for the relationship between Congress and the President’s office, the Affordable Care Act, or even what will happen now to the House Budget chairmanship that Price presently holds, what does this mean here in Georgia?

Price’s nomination will need to go through the confirmation process, which will likely take a few months. After a successful confirmation and once he vacates his Congressional post to take the lead of the Health and Human Services for the country, Georgia law dictates that a special election will be held to fill his Congressional seat. And there is no short supply of current and previous legislators from the 6th District being bantered around as those eyeing the opportunity.

The number of people running for the 6th Congressional District seat will be large, and with no clear “heir apparent,” it will be an intense election that will be truly up for grabs. And with the Georgia General Assembly convening in January, this special election may fall right during the state legislative session. Watch for a domino effect of legislators seeking this congressional post pulling together quick campaigns, along with the likelihood that some of these legislators will resign their state Senate or House seats mid-session to gain an advantage of time on campaigning (which, in turn will create more special elections). But all of this will fall on the timing of when Rep. Price is confirmed and resigns. Stay tuned!

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Georgia CapitolState Hearings on Cyber/Data Security to Produce Legislation (Issue 2 of 5)

The state Legislature continues to hold multiple hearings each week (atypical, much less for this time of year), and legislators themselves are pre-filing bills for the 2017 session. One of the issues GCUA has been engaged on closely this off session is the topic of cybersecurity, and on November 21st the state Senate study committee on data security held its fifth and final hearing on this issue before the session begins. During the hearing the committee provided an overview of recommendations for improvements and changes to increase cybersecurity at state agencies which included:

  • Required audits of how state agencies protect data,
  • Investment in upgrading state systems and enhanced training,
  • Engagement of education sector to encourage development of IT security related programs to increase the talent pool,
  • And general increase in the capacity of which the state protects its data.

During the hearing, it was also brought forward that the Georgia Bureau of Investigation may explore legislation to protect consumers against cybercrime. And although predominantly centered around state agencies, any legislation on cybersecurity will be monitored closely as peppered in these hearings have been the points of importance of cybersecurity in the private sector, the news of large breaches at businesses, as well as protecting financial transactions.

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CUNA and NAFCU File Amicus Brief Supporting NCUA’s Motion to Dismiss MBL Lawsuit
(Issue 3 of 5)

GavelOn November 22nd CUNA and the National Association of Federal Credit Unions (NAFCU) filed an amicus brief on the behalf of all credit unions in the U.S. District Court for the Eastern District of Virginia supporting NCUA’s motion to dismiss the lawsuit filed by the Independent Community Bankers of America (ICBA) which challenges the agency’s authority to issue that latest member business lending rule. The brief argues that NCUA’s interpretation of the Federal Credit Union Act in the rule is well within the agency’s legal authority and defend NCUA’s definition of “member business loan” (MBL) noting it has not substantively changed since 2003 and by definition can only include loans made to a member of the lending credit union.

ICBA’s main complaint in its lawsuit is that the NCUA 2016 final MBL rule improperly excludes non-member loan participations from the definition of MBL and thus does not count loan participations against the statutory MBL lending cap. NCUA has not defined a loan participation as an MBL since 2003, but had required credit unions count loan participations in the statutory cap calculation unless a credit union obtained a waiver. The 2016 rule eliminates that and all other waiver requirements to provide regulatory relief to credit unions.

CUNA and the attorneys will continue to closely monitor the litigation and support NCUA’s MBL rulemaking effort.

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GAC 2016
Grassroots Academy 2016 participants at the state Capitol
Register Now for State Governmental Affairs Day (Issue 4 of 5)

Registration is under way for the state governmental affairs day for credit unions – the 2017 Grassroots Academy, an all-day immersion in the legislative issues, environment and people that alter how credit unions operate. Each year is different and is the opportunity for credit unions to hear firsthand from state leaders on what to anticipate in the Georgia General Assembly and Congress, gain insight into the legislative and political environment and how it can impact the way credit unions in Georgia serve their members, and what credit unions can do to shape their future.

This event is on January 24th downtown across from the Capitol, and the group will travel to the Gold Dome that afternoon to hear from key state legislators (comfortable shoes and a coat recommended!). For more details, speakers, and registration information please click here.

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NewsCredit Unions in the News (Issue 5 of 5)

Credit unions continue to earn media coverage statewide and beyond. Whether it’s in a local newspaper, niche magazine or radio show, the credit union message is shared through a multitude of outlets across Georgia. Click here to see recent coverage of Georgia’s credit unions "In the News."

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