Advocate Blog
Join the conversation about the latest laws, regulations and political issues having an impact on Virginia's credit unions.
- League Congratulates State Sen. McClellan on Winning Democratic Primary in 4th Congressional District Race
December 22, 2022State Sen. Jennifer McClellan has won the Democratic nomination for Virginia's 4th Congressional District in the special election to succeed the late Rep. Donald McEachin, the commonwealth's Democratic Party announced early Thursday morning in a news release, putting her in a prime position to become the first Black woman to represent the Old Dominion in Congress.
- Senate Banking Chairman Says ‘Maybe’ to Cryptocurrency Ban
December 22, 2022Sen. Sherrod Brown (D-Ohio) on Sunday said federal agencies need to address the cryptocurrency market and “maybe” ban it after the high-profile collapse of cryptocurrency market FTX last month.
- Senate Passes $1.7 Trillion Government Funding Bill to Avert Shutdown
December 22, 2022The Senate voted Thursday to pass a massive $1.7 trillion government spending bill that will fund critical government operations across federal agencies and provide emergency aid for Ukraine and natural disaster relief. The House must next pass the measure as lawmakers race the clock to avert a shutdown at the end of the week.
- Statement by Chairman Harper on CDRLF Funding, CLF, and Vendor Authority
December 22, 2022National Credit Union Administration Chairman Todd M. Harper today released a statement on funding for the NCUA’s Community Development Revolving Loan Fund (CDRLF) grants, the Central Liquidity Facility (CLF) agent-member provision, and vendor authority.
- CFPB Auto Lending Announcement Has Insufficient Info, Wrong Assumptions
December 21, 2022The Consumer Financial Protection Bureau’s (CFPB) announcement regarding auto lending data contains sufficient information and leads to questions about the bureau’s assumptions, CUNA and other organizations wrote to the CFPB. The CFPB issued a press release with an attached document concerning the collection of information related to auto lending.
- Omnibus Bill Funds CU Priorities, Addresses CDFI Concerns
December 21, 2022Congress released the text of an omnibus bill Tuesday morning that would fund the federal government through Sept. 30, 2023 and contains several credit union priorities. The Senate is expected to take up the bill first, with a House vote before government funding expires Dec. 23.
- Will SAFE Banking Be Back? Bet on It
December 21, 2022The reason for hope on SAFE Banking is both obvious and irritating: It’s inevitable. That’s plain just by looking at the national map of how many states have legalized cannabis, and thus have stakeholders who are complaining to their senators and representatives about the inequities they labor under due to the federal illegality of cannabis.
- Financial Services Coalition Asks Congress to Help Block CDFI Proposal
December 21, 2022Saying they are “gravely concerned” about proposed changes to the CDFI Certification process, a coalition of financial services trade groups is asking for Congress’ help in convincing the Treasury Department the updates are misguided.
- Two Different Camps of State AGs Want SCOTUS Review of CFPB Constitutionality, But for Different Reasons
December 21, 2022Two coalitions of state attorneys general are requesting the Supreme Court review the constitutionality of the CFPB's funding structure, but for “vastly different reasons.”
- CUNA Announces Robert Lewis as New EVP/Chief Advocacy Officer
December 20, 2022CUNA announced Robert Lewis has been hired as its new executive vice president and chief advocacy officer. Lewis, the founder and president/CEO of the Van Aucker Group, has more than 20 years of legislative experience involving financial services.