Advocate Blog
Join the conversation about the latest laws, regulations and political issues having an impact on Virginia's credit unions.
- CUNA Backs Senate Bill to Close ILC Loophole
December 7, 2022CUNA supports a bill to close the industrial loan company (ILC) loophole, introduced Tuesday by Senate Banking Committee Chairman Sherrod Brown, D-Ohio, Sen. Bob Casey, D-Pa., and Sen. Chris Van Hollen, D-Md. The bill would close a loophole that allows ILC to gain all of the advantages of an FDIC-insured bank charter.
- Proposed CDFI Fund Application Would Exclude ‘Significant Swaths’ of CUs
December 6, 2022The Treasury’s Community Development Financial Institutions (CDFI) Fund’s proposed certification application contains multiple provisions that would inappropriately exclude credit unions doing good work, CUNA wrote to the CDFI Fund Monday.
- CUs, League Meet With Gov. Glenn Youngkin on CU Issues and Economic Challenges
December 2, 2022Representatives from more than a dozen credit unions and the League met today with Gov. Glenn Youngkin and key administration officials.
- Applications to 'Crash the GAC' Open through Dec. 2
December 1, 2022Filene Research Institute, the Cooperative Trust, and CUNA announced Crash the GAC is bringing back its 14th cohort to Washington D.C. Applications for Crash the GAC are now open and the deadline to apply is Friday, Dec. 2.
- CFPB Guidance, Enforcement Hang in the Balance of US Supreme Court Appeal
November 30, 2022Financial institutions across the country are carefully monitoring the Consumer Financial Protection Bureau's appeal to the U.S. Supreme Court as the fate of the agency's funding, guidance and enforcement actions hang in the balance.
- NAFCU Compliance Blog: Fall 2022 Supervisory Highlights Part I: Auto Servicing, Consumer Reporting, Credit Card Account Management, and Debt Collection
November 30, 2022The CFPB recently released its biannual Supervisory Highlights, which provides an overview of certain financial regulatory trends. The CFPB issues the Supervisory Highlights to provide insight on various compliance pitfalls and examination trends.
- League Statement on the Passing of Rep. Donald McEachin
November 29, 2022The Virginia Credit Union League today issued the following statement on the passing of Rep. Donald McEachin. "We are saddened to hear of the passing of Rep. Don McEachin, a respected voice and dedicated champion for the Richmond area and south Central Virginia. Our thoughts and prayers go out to his family, friends and colleagues."
- League’s Advocacy Work Hits High Gear as We Ready for New Congress, General Assembly
November 29, 2022Your League is gearing up for a busy few weeks on the political front at both the state and federal levels.
- Comments on Subordinated Debt, Bylaws Proposals Due in December
November 28, 2022Comments on NCUA’s subordinated debt proposal and federal credit union bylaws proposal are among several proposals with comment deadlines in December. NCUA’s bylaws proposal would amend the Federal Credit Union Act to reflect the Credit Union Governance Modernization Act, signed into law this year. It would update the federal credit union member expulsion process.
- Credit Union Trades Question FTC Effort to Regulate Data Privacy
November 28, 2022Any effort by the Federal Trade Commission to regulate the ways that consumer data is used is likely to be ill-timed or overly broad, credit union trade groups told the commission this week. The commission has been soliciting comments on how to protect such data.