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Maryland Legislative Reception & Risk-Based Capital Regulations

Mon, Feb 2, 2015

Columbia, Maryland

MD|DC Credit Union Association Advocacy Upcoming Events

Feb. 10:  The MD|DC credit Union association wants to be sure you are aware of two dates of importance to mark your calendar. First , next week, Tuesday, Feb. 10, the association will be hosting the 2015 Maryland Legislative Reception at the historic Governor Calvert House on the State Circle in Annapolis. The annual reception is one of a number of opportunities and avenues the advocacy team will be using during the legislative session which opened two weeks ago to raise our profile and g build relationships with elected officials and agency representatives. The reception will be attended by dozens of elected Delegates and Senators and provides CU stakeholders to interact in a business but casual environment. We urge you to RSVP and attend.

April 27: Second, the NCUA amended Risk-Based Capital regulations which passed by a 2-1 vote on Jan. 15 have now been published in the Federal Register last week. As such the 90-day comment period is now in play and will run through Monday, April 27.  As we did during the first round in the spring, our team will be working with CU stakeholders to draft comments and coordinate submissions moving forward. As Board Member Mark McWatters emphasized to us during our recent Roundtable, we need to stay engaged and keep the pressure on the agency.

Prize-Linked Savings: In the statehouse, the association is working with several NGO’s and other stakeholders to amend language in current law to allow Credit Unions and Depository Institutions the authority to conduct ‘savings promotion raffles’ for the exclusive benefit of eligible members of the credit union (or other depository institution).  More commonly known as ‘Prize Linked Savings,’ the non-controversial technical changes to the act provides us a good opportunity to work with key legislators on a bill that is also supported by banks and if passed will be a win-win for credit unions (which choose to participate), CU members and the industry as a whole as it is in a number of other states.

For additional information contact: Glen Cooney; VP, Advocacy & Legislative Affairs / 443-325-0775 /