Advocate Blog
Join the conversation about the latest laws, regulations and political issues having an impact on Virginia's credit unions.
- Sponsors Needed By May 10 for VACUPAC Golf Challenge, Lunch at Williamsburg Winery
May 2, 2023Sponsorships are critical to the success of the VACUPAC Golf Challenge and our inaugural VACUPAC Wine-Tasting and Networking Lunch! Please consider supporting our advocacy work through your sponsorships!
- League Praises House Committee Passage of CFPB Reforms
April 28, 2023Your League was pleased to see the House Financial Services Committee on Wednesday pass long-supported measures to bring more congressional oversight to the Consumer Financial Protection Bureau.
- SAFE Banking Act Reintroduced in Congress; Measure Remains on League's Legislative 'Watch List'
April 28, 2023A measure to provide protections for financial institutions serving cannabis-based business in states where it is legal has been reintroduced in both the U.S. House and Senate. A longtime priority for the financial services industry, this measure has garnered significant bipartisan support in previous sessions of Congress, but never enough to win passage by both chambers.
- Credit Unions Join League for Virtual Meeting with Congresswoman Spanberger
April 28, 2023Credit union advocates from Apple Federal Credit Union, CommonWealth One Federal Credit Union, Topside Federal Credit Union, and UVA Community Credit Union joined the League in a virtual meeting with U.S. Rep. Abigail Spanberger (D-7th) on April 28.
- IGNITE 2023 Keynote: Virginia, the Nation and the World - 3 Perspectives
April 25, 2023We’re pleased to announce a fourth informative keynote session for IGNITE 2023! Credit unions in Virginia and beyond operate on a worldwide, national and local stage. Our panel of experts will discuss the political and governmental arena on all fronts. Key issues include the super-charged and changing politics in Virginia, the impact of the government on liquidity and the economy and how the world’s credit unions have lessons for those state-side.
- League Writes Congress in Support of Restructuring CFPB From Single-Director to 5-Member Commission
April 25, 2023Your League today wrote key members of the House Financial Services Committee to express our support for transitioning the Consumer Financial Protection Bureau’s leadership structure from the current single-director model to a multi-member commission.
- Fixed or Float - NCUA Board Briefed on Interest Rate Cap
April 20, 2023At Thursday's NCUA Board meeting, the Board received a briefing on the Loan Interest Rate Ceiling for federal credit unions. In today's rising interest rate environment, many credit unions are finding it difficult to properly risk-based price their loan and credit card products while operating within the bounds of the fixed interest rate cap. The idea of a floating interest rate cap has been gaining momentum as a possible solution. However, as you’ll read below, the Board still has some major concerns with this approach.
- League Monitoring Interest Rate Discussion at NCUA’s April 20 Board Meeting
April 18, 2023The NCUA board will be briefed on the federal credit union interest rate ceiling and issue a request for information on climate-related financial risk at its April 20 meeting. Your League urged NCUA to consider increasing the fixed rate cap or adopting a floating rate cap.
- League Readies for Busy Primary, Election Seasons and Unprecedented Turnover in General Assembly
April 18, 2023Earlier this month was the deadline for candidates to submit to run in Virginia’s June 20 state primaries. While there are some districts holding party-run conventions or firehouse primaries that allow for later submissions, the vast majority of primary races for the Virginia House and Senate have been set.
- Reminder: NCUA Share Insurance Webinar on April 13
April 10, 2023Share insurance is fundamental to the credit union system, and it’s a complex topic. To help credit unions better understand share insurance, the National Credit Union Administration has scheduled a webinar for Thursday, April 13, to discuss how member accounts are covered.