|U.S. House Hearing on Dodd-Frank Alternative Bill (Issue 1 of 5)
On April 26th, the House Financial Services Committee held a hearing on the committee chair Rep. Jeb Hensarling’ s (R-TX) Dodd-Frank alternative bill. The bill, the Financial CHOICE Act, contains a number of regulatory relief provisions positive for credit unions. These include:
Next steps for the bill: The committee is expected to be in a continuation hearing on the bill as of press time, and then hold another meeting on May 2nd to address amendments, debate provisions and make changes to move it forward (which is called a mark-up). But whatever changes are made will be aimed at purely securing passage of the bill through the committee and then through the House in some form. Then, the bill would go to the Senate where (hopefully) several of the provisions will be retained and pass. So, with that said, there is much work to be done, and the bill will change throughout the process – with the work of the most consequence to get to a final form in the Senate. In the meantime, Rep. Hensarling has been in regular contact with CUNA, dialogue aimed at ensuring that the efforts to bring meaningful regulatory relief for credit unions remain on track.
|Special Elections Go to Runoff (Issue 2 of 5)
On Tuesday, April 18th special elections were held for Georgia’s 6th Congressional District to replace Tom Price, and for state Senate District 32 to replace Judson Hill. With no one candidate in either race achieving above 50 percent of the vote due to the large number of individuals running across the board, both races now go to a runoff. Here’s where the races stand:
For any of the people in, near or driving through these districts – be prepared for more fliers, mailers, signs, emails, calls and ads!
|Credit Union Grassroots (Issue 3 of 5)
Grassroots capability is important to the advocacy success of any industry. Two important parts of strong grassroots are educating staff and board about the issues that impact credit unions, and engaging with legislators to grow relationships and understanding of what makes credit unions unique. In addition to the in-person contact GCUA had these past two weeks at political events, here are some of the most recent examples of grassroots in Georgia:
If your credit union is holding branch openings or events, please invite your area legislators and share with us any connections. Also, if your credit union or chapter is interested in holding a similar legislative issues focused meeting, please let us know.
|Former GA Governor Joins Presidential Cabinet, Clearing Path for 2018 Governor's Race (Issue 4 of 5)
This week former Governor Sonny Perdue was confirmed to a presidential cabinet post, and as such became the first-ever Georgian to become the Secretary of the Department of Agriculture! Congratulations to the former Governor, whose nomination the U.S. Senate confirmed on April 24th by a vote of 87-11. And with agriculture a significant part of Georgia’s economy, many people in politics view his role leading the Department as an asset to the farming industry in the state.The interesting wrinkle in his new post is how this shapes the statewide campaigns for Georgia in 2018. Insiders were watching to see whether Perdue would run again for Governor, an idea which has promptly been squelched with his ascension to the cabinet post. With that no longer a possibility, it clears one major hurdle for anyone considering a run for Governor. And there are already big names that are announced or announcing, with more formal announcements expected this weekend. For a quick overview, The Atlanta Journal-Constitution ran an article on April 25th highlighting the tangled web of candidates already shaping up for both the Republican and Democratic hopefuls for the 2018 governor race. But however it shakes out, it will be one long and interesting campaign year leading up to November 2018!
|Credit 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."