Advocate Blog
Join the conversation about the latest laws, regulations and political issues having an impact on Virginia's credit unions.
- Appeals Court Rules in Favor of Credit Unions in FCDPA Lawsuit
September 9, 2022The 11th Circuit Court of Appeals vacated the plaintiff’s standing Thursday in Hunstein v. Preferred Collection and Management Services Inc., a Fair Debt Collection Practices Act (FDCPA) lawsuit. CUNA filed a brief stating that a ruling for the plaintiff would threaten the functioning of debt collectors, mortgage servicers, and the broader financial services industry.
- Friend to CUs Rep. Brad Sherman Also Congress’ Leading Crypto Skeptic
September 9, 2022Rep. Brad Sherman’s views on cryptocurrencies set him apart from most of his colleagues in Congress. The Northridge-area Democrat isn’t just wary of crypto: He hates it and views it as a threat to the national security of the United States.
- Crash the GAC Returns with Its 14th Cohort in 2023!
September 8, 2022Filene Research Institute, the Cooperative Trust and Credit Union National Association (CUNA) are pleased to announce that 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, December 2, 2022.
- GAO Study on FI Supervision: Lessons Learned from Remote Supervision during Pandemic Could Inform Future Disruptions
September 8, 2022The GAO today released a study on the federal banking agencies' pandemic-related changes related to examinations.
- House Republicans Want Answers From Fed on Digital Dollar
September 8, 2022U.S. Republican lawmakers are demanding answers from a top Federal Reserve official on how the central bank views its powers to issue a digital dollar.
- California, New York AGs Push Card Companies to Add Firearms Category
September 7, 2022The top prosecutors in California and New York are pressing three major U.S. credit card companies to add a new purchase category code for firearms, which they say will help law enforcement spot potential red flags.
- OCC's Hsu Says Bank-Fintech Relationships May Be Systemic Risk
September 7, 2022Acting Comptroller of the Currency Michael Hsu warned that widespread and increasingly complex relationships between banks and fintechs could set the stage for a financial crisis.
- Risk, Reward Ahead for Banks in Run-Up to Midterms
September 5, 2022American Banker looks at the legislative landscape for financial institutions in the run-up to the mid-term elections.
- NCUA Allows for CUNA-Requested Flexibility in IRR Framework
September 2, 2022NCUA issued a Letter to Credit Unions (22-CU-09) Thursday updating its Interest Rate Risk (IRR) supervisory framework. CUNA wrote to NCUA last week sharing credit unions’ IRR concerns and requesting NCUA change its policies to provide greater examiner flexibility.
- Nussle: Notary Modernization Would Benefit Consumers
September 2, 2022It's time for Congress to make remote online notary (RON) a permanent option for homeowners and homebuyers nationwide, CUNA President/CEO Jim Nussle wrote in RealClearPolicy. In Virginia, notarizing a document “remotely” is already permissible. In fact, Virginia became the first state in 2012 to formally authorize and provide a legal framework for such notarizations. A national standard and broader acceptance of such services will make it easier for Virginia-based credit unions to utilize this option.