Kaua`i Cost Control Commission

On November 14, the Kauai County Cost Control Commission held a public meeting, where they discussed the credit union real property tax exemption. Many credit union staff members showed up to present testimony on this important matter. 23 pieces of testimony were received by the Commission.

This discussion remains ongoing.

Read HCUL's testimony here.

Oahu Real Property Tax Advisory Commission - Testimony Needed

The Real Property Tax Advisory Commission (RPTAC), established by the Honolulu City Council, was formed to evaluate and provide a report on the current City & County of Honolulu real property tax exemptions allowed by law. Although verbal comments are not allowed at the public meetings, written testimony is allowed. Click here to read the testimony of your League, representing all Hawaii credit unions.

Please take the time to submit your own credit union story before the next RPTAC meeting, which is scheduled for Monday, October 24. Please focus on the good things your credit union, as well as credit unions statewide, are doing to further the credit union philosophy of “people helping people,” and the important role credit unions have to play in this time of economic crisis. Testimony can be emailed to cclbc@honolulu.gov, or faxed to 768-1364.

International Credit Union Day Proclamation Signing

L to R: Robin Kim - Hawaii Schools FCU, Jacob Ng - NAVFAC FCU, Mayor Peter Carlisle, Stefanie Sakamoto - HCUL, Drake Tanabe - Hawaii Central FCU.

Congresswoman Hanabusa won't run for Senate

Congresswoman Colleen Hanabusa (D) announced yesterday that she will seek re-election for her House seat in Congressional District 1, ending speculation that she would run for the Senate seat being vacated by Senator Akaka. This means she will again face Charles Djou in the election.

Read the article here.

Governor Abercrombie's "New Day" Statement

Click on the link to read the text of Governor Abercrombie's statement on the economy yesterday. Video of his speech is also available.

http://hawaii.gov/gov/newsroom/in-the-news/a-new-day-status-report-to-the-people-of-hawaii-1

Governor Abercrombie Press Conference Today

Governor Abercrombie will hold a news conference at 3:00 p.m. today, to address the state of the economy.

It will be streamed live at www.hawaii.gov/gov.

Reapportionment

New proposed district lines would pit 6 House incumbents against each other in 3 districts:

Jerry Chang vs. Mark Nakashima

Rida Cabanilla vs. Kymberly Pine

Barbara Marumoto vs. Mark Hashem

After acceptance of the proposed maps, they will be opened up to public hearings.

Federal Reserve Official Rule on Interchange

Go here to read the official rule on interchange fees as issued by the Federal Reserve.

Fed Sets Interchange Cap at 21 cents

The Federal Reserve today issued their rule on interchange. Per CUNA, the cap would allow a 21 cent charge for network, hardware, and software costs, and a 5-basis point charge to cover fraud.

Read the story here.

Fannie Mae Releases Deliquency Guidelines

Go to link to read new guidelines on mortgage deliquency released by Fannie Mae on June 23, 2011.

List of Current Acts

Click here to view a list of Acts (laws) as signed by Governor Abercrombie. This list is current to June 23, 2011.

The full list (with active links to bills) can also be accessed through the Capitol's website, by going here, scrolling to the bottom of the page, and clicking "List of Acts".

DAGS issues nonjudicial auction site memo

In response to the passage of Act 48, the Dept. of Accounting and General Services has issued their official memo regarding nonjudicial foreclosure auction site information.

Read the memo here.

End of Session Report

View the 2011 end of session report here.

Foreclosure bills update

Senate versions of the bills have been heard by House Consumer Protection and Commerce committee. Decision-making was deferred one week.

Read HCUL's testimony:

SB 651 SD2

SB 652 SD2

RPT Exemption Bill Introduced in City Council

Bill 27 would place a cap on the real property tax exemption for credit unions, and other non-profit entities.

Read HCUL's testimony here.

GE Tax Exemption Repeal

HB 1270 HD1 provides for a repeal of many tax exemptions, and provides for an evaluation of all tax credits and exemptions.

Read HCUL's testimony here.

Foreclosure Bills - Update

HB1411 HD2 - Passed third reading in the House, now goes on to the Senate.

HB894 HD1 - Passed third reading in the House, now goes on to the Senate.

SB651 SD2 - Passed third reading in the Senate, now goes on to the House.

Read HCUL's testimony in opposition here:
HB 1411

HB 894

SB 651

Read HCUL's letter of concern to Senator David Ige here.

Foreclosure Moratorium

House Committee on Consumer Protection and Commerce just passed HB 894 with amendments. The bill now would impose a 5-month moratorium on nonjudicial foreclosures.

Read HCUL's testimony in opposition here.

HB 678

This bill would have required any business or agency to pay for credit monitoring services for 3 years following a security breach.

The bill was passed with amendments, and in its current version will only apply to government agencies.

Read HCUL's testimony here.

26th Legislature Opens

After months of uncertainty, the House of Representatives announced that Speaker of the House Calvin Say would retain his post. Further committee assignments are forthcoming.

The Senate opened with its new President, Senator Shan Tsutsui of Maui.

Read coverage from the Star Advertiser here.