Advocate Blog
Join the conversation about the latest laws, regulations and political issues having an impact on Virginia's credit unions.
- CFPB Chief Previews Next Steps in Open-Banking Rulemaking
October 27, 2022The director of the Consumer Financial Protection Bureau unveiled a timetable for writing a regulation that will likely force banks to give third-party apps and other financial institutions access to consumer financial data at consumers' behest.
- NCUA Board Announces 2023 Meeting Schedule
October 26, 2022The National Credit Union Administration Board today released its monthly meeting schedule for 2023. Open Board meetings are scheduled to begin at 10 a.m. Eastern. View the press release?.
- CFPB Plans Rules to Faciliate Personal Financial Data Rights, Open Banking, Open Finance
October 26, 2022The CFPB is planning to facilitate rules to provide for personal financial data rights for Americans, paving the way for open banking and open finance. The proposed rules, among other things, would obligate financial institutions to share consumer data upon consumer request.
- More Rules on Fees in the Works
October 26, 2022Credit unions: The Biden Administration today released an initiative that will target what it terms “junk fees,” with banking-related fees featured prominently in the President’s plan and in new, related guidance issued by the Consumer Financial Protection Bureau (CFPB).
- CFPB Lays Out Possible Counter to Fifth Circuit Funding Decision
October 26, 2022An appeals court ruling last week on the Consumer Financial Protection Bureau's funding structure is already threatening the agency's ability to enforce its rules. But in another recent case, CFPB hints at its legal strategy for appealing the court decision that found its funding mechanism unconstitutional.
- League Filing Written Comments on NCUA Budget
October 25, 2022Following testimony by League President/CEO Carrie Hunt last week at NCUA's in-person budget hearing, your League will be submitting additional written comments on the budget by the Friday deadline.
- Top 5 Reasons to Crash the GAC in 2023; Apply Now!
October 25, 2022Crashing the GAC has positively impacted hundreds of emerging professionals. Join us on this life-changing journey!
- League, CUs Meet with Congresswoman Elaine Luria
October 25, 2022Member credit unions and your League held a virtual meeting today with credit union supporter, Rep. Elaine Luria, who remains locked in heated battle to hold on to her 2nd District seat.
- Condoleezza Rice Joins CUNA GAC Programming
October 24, 2022No stranger to navigating the notoriously difficult arenas of politics, academia, and business, 66th U.S. Secretary of State Condoleezza Rice will share insights from her trailblazing career during a chat with CUNA President/CEO Jim Nussle at CUNA Governmental Affairs Conference on Tuesday, Feb. 28, 2023.
- Divided US Government Would Shape Recession Response
October 24, 2022The U.S. federal government will have a harder time addressing an economic downturn if either chamber of Congress flips parties in the midterms. Democrats are likely to hold the Senate in the November elections, while Republicans are poised to take control of the House of Representatives, according to an analysis of poll data by S&P Global Market Intelligence economists. The midterm elections come as the U.S. is entering an economic downturn, with Market Intelligence economists forecasting U.S. GDP will contract in 2023.