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News Now

CU System
Alabama GAC wraps up with legislative visits
BIRMINGHAM, Ala. (2/7/14)--The Alabama Credit Union Association State Governmental Affairs Conference concluded Wednesday as credit union representatives pressed their case with state lawmakers on issues such as the state credit union act union act, patent trolling, and public deposits.
 
Before meetings at the State House, League of Southeastern Credit Unions staff updated attendees on bills in the Alabama legislature that are a priority for credit unions ( eSignal Feb. 6). The update to the Alabama State Act is moving forward, with the next action on the bill possibly coming next week. (See News Now Jan. 27: LSCU pushes for legislation on public deposits, foreclosures)
 
On the federal side, the league's federal contract lobbyist John McKechnie updated the group on tax reform, supplemental capital and regulatory issues. He said credit unions seemed very well positioned on tax reform, however unrelated business income tax (UBIT) might be on the table. He also said changing the name on the secondary capital issue to supplemental capital was a good idea because it implies helping credit unions and Congress wants to help entities.
 
GAC attendees were provided with a special welcome at the State House when they visited the Senate Chambers viewing gallery, where and the video board above the Senate floor read, "The Alabama Senate Welcomes the League of Southeastern Credit Unions."
 
Representatives from the LSCU and credit union representatives met with Rep. Phil Williams (R-Madison), who is the sponsor of a bill to limit patent trolling. Williams said he was pleased to talk to credit union representatives who have had first-hand experience with patent trolling.


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