Advocate Blog
Join the conversation about the latest laws, regulations and political issues having an impact on Virginia's credit unions.
- Congress Should Act to Help Communities Before End of Year
November 10, 2022The 117th Congress can take several actions in its final weeks to improve consumers’ financial well-being, CUNA Deputy Chief Advocacy Officer Jason Stverak wrote to all members of Congress Wednesday. “Credit unions support several common-sense, bipartisan priorities that would benefit communities still reeling from the pandemic and its economic effects,” Stverak wrote.
- Fed Invites Public Comment on Proposal to Publish List of Depository Institutions with Access to Master Accounts
November 10, 2022The Federal Reserve Board on Friday invited public comment on a proposal to publish a periodic list of depository institutions that have access to Federal Reserve accounts—often referred to as "master accounts"—and payment services.
- Digital Asset Marketplace Needs Appropriate Oversight
November 10, 2022Credit unions support the “whole-of-government” approach to digital assets to ensure appropriate oversight and regulation of the marketplace, CUNA wrote to the Treasury’s Office of Strategic Policy, Terrorist Financing and Financial Crimes. That approach is outlined in an executive order issued by the White House in March.
- National Credit Union Foundation Announces New FinHealth Director
November 10, 2022The National Credit Union Foundation (the Foundation) has announced the addition of Jamie Chandler as FinHealth Director. As FinHealth Director, Chandler will lead the Foundation’s efforts to strengthen the understanding and support of financial well-being across the credit union movement.
- NAFCU, DCUC, CUNA Mutual Group Join VFW in Making Request of NCUA
November 10, 2022NAFCU has joined with the Defense Credit Union Council (DCUC), the Veterans of Foreign Wars (VFW), and CUNA Mutual Group to request that the NCUA amend the definition of “qualified charity” in part 721.3 of the agency’s regulations to include 501(c)(19) veterans’ organizations. In the letter, the organizations stated that although federal credit unions are allowed to fund a Charitable Donation Account (CDA), NCUA regulations only allow credit unions to donate to “a charitable organization or other non-profit entity recognized as exempt from taxation under section 501(c)(3) of the Internal Revenue Code.”
- Credit Unions Support ‘Whole of Government’ Approach to Digital Assets, CUNA Tells Treasury
November 10, 2022Credit unions support the “whole-of-government” approach to digital assets to ensure appropriate oversight and regulation of the marketplace, CUNA wrote to the Treasury’s Office of Strategic Policy, Terrorist Financing and Financial Crimes.
- Carrie's Diary: Death and Rebirth
November 10, 2022If you think of an election as a death and rebirth, with each new Congress or state legislative session, we get to reshape and re-think our priorities. At the League, we do that each year under the direction of our board and recommendations from our members, committees, and staff. For us, supporting an environment that allows credit unions to focus on their members serves credit unions in Virginia.
- Credit Union Champions Victorious in Tuesday’s Mid-Terms
November 9, 2022Credit union champions from around the country were victorious in Tuesday’s mid-term elections. CUNA, Leagues, and CUNA’s federal PAC, the Credit Union Legislative Action Council, invested $6.6 million in support of 398 candidates on the ballot Tuesday.
- Kiggans Ousts Luria, but Democrats Keep Virginia Losses to a Minimum
November 9, 2022Republicans flipped their easiest Virginia target in Tuesday’s midterm elections but fell short of their high expectations as Democrats successfully defended two other contested seats.
- Two Key Banking Policymakers Win Elections
November 9, 2022Rep. Patrick McHenry of North Carolina and Sen. Tim Scott of South Carolina — Republican heirs apparent to leadership positions on the congressional banking committees — handily won reelection, according to the Associated Press, but other closely watched races remained uncalled Tuesday night.