Advocate Blog
Join the conversation about the latest laws, regulations and political issues having an impact on Virginia's credit unions.
- Pelosi Raises Flag On Data Privacy Bill's State Law Override
September 2, 2022House Speaker Nancy Pelosi on Thursday threw a wrench into efforts to enact federal privacy legislation that was recently sent to the House floor, saying that more work needs to be done to prevent the proposal from overriding California's more stringent privacy protections.
- Waters Announces Financial Services Committee Schedule for September
September 2, 2022Rep. Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, recently announced the Committee's schedule for the month of September.
- Richmond-Area Credit Unions Raise $17,226 for VACUPAC
September 2, 2022Richmond-area credit unions and their business partners raised $17,226 for the Virginia Credit Union Political Action Committee (VACUPAC) through golf tournaments in 2021 and 2022.
- Interchange Bill Would ‘Over-Regulate’ Working System
September 2, 2022The last thing Congress should do right now is make life harder for consumers by imposing punishing regulations on their credit cards, Missouri State Rep. Phil Christofanelli wrote in The Missouri Times. Christofanelli wrote with concerns about the Marshall-Durbin interchange bill that CUNA, Leagues, and credit unions strongly oppose.
- CUs, League Meet with Congressman Good; Key State Lawmakers Sen. Newman, Del. Byron
September 1, 2022Credit union advocates and your League held a series of meetings this week with federal and state lawmakers.
- Credit Card Rewards Would Be Collateral Damage in ‘Durbin 2.0’ Bill
September 1, 2022A proposed bill co-authored by Sen. Dick Durbin aims to add competition to the 'duopoly' of Visa and Mastercard, but financial institutions say it would harm consumers by sharply reducing credit card loyalty programs.
- Rumored Regulation E, EFTA Expansion from CFPB is ‘Unwise, Unlawful’
August 31, 2022The Consumer Financial Protection Bureau’s (CFPB) rumored plan to expand Regulation E and the Electronic Fund Transfer Act (EFTA) is unlawful, would contravene the bill’s text, and would run afoul of the Administrative Procedures Act, CUNA wrote to the CFPB Tuesday.
- Democratic Group Says People of Color, Low-Income Communities Continue to be Financially Excluded; Backs Expansion of Postal Banking
August 31, 2022A new report from the Joint Economic Committee Democrats says people of color and low-income communities continue to be disproportionately harmed by banking and financial exclusion, and among its recommended remedies is expanded postal banking.
- DOJ Backs Democrats in FDIC Board Struggle
August 31, 2022The Department of Justice has sided with the Federal Deposit Insurance Corp.'s board over its former chair. The department of legal counsel at the Department of Justice has released an opinion stating that the chairperson can't prevent a majority of the FDIC board from presenting items for a vote and decision.
- Filene Research: Updating Overdraft Protection to Meet Member Needs
August 31, 2022Overdraft protection (ODP) programs were originally designed to help members but shifts over the years have moved ODP from supportive to potentially harmful for those who can least afford it. How can credit unions update ODP offerings to re-align them with their mission, value proposition, and business model?