Advocate Blog
Join the conversation about the latest laws, regulations and political issues having an impact on Virginia's credit unions.
- Comments Submitted on Money and Payments; 'The U.S. Dollar in the Age of Digital Transformation'
May 23, 2022CUNA submitted comments in response to the Federal Reserve’s request for comment (RFC) on its discussion paper, “Money and Payments: The U.S. Dollar in the Age of Digital Transformation.” CUNA appreciates the Federal Reserve’s consideration of central bank digital currencies (CBDCs) but believes this is only the start of the conversation and further investigation must focus on the issues the currency intends to solve.
- League Hosts Meetings with Rep. Wittman, Office of Rep. Spanberger
May 20, 2022Your League and credit unions hosted meetings this week with two Congressional offices -- Reps. Rob Wittman (R-1) and Abigail Spanberger (D-7th).
- FOM Modernization Bill Passes House Financial Services Committee
May 19, 2022The House Financial Services Committee advanced the CUNA-League-led Expanding Financial Access for Underserved Communities Act (H.R 7003) with a 27-22 vote. The bill represents the most significant proposed update to the Federal Credit Union Act since 1998.
- NCUA Statement on Committee Passage of Vendor Authority and Underserved Areas Bills
May 19, 2022National Credit Union Administration Chairman Todd M. Harper issued the following statement after the approval of H.R. 7022, the Strengthening Cybersecurity for the Financial Sector Act of 2022, and H.R. 7003, the Expanding Financial Access for Underserved Communities Act, by the U.S. House Committee on Financial Services today.
- CUNA Provides Feedback on Enhanced Call-Blocking Notification Code
May 19, 2022CUNA and other organizations provided feedback to a communications task force Wednesday regarding the use of an enhanced signaling protocol (SIP Code) for voice service providers to notify callers a voice service provider has blocked their call.
- Could Stablecoin Regulation Re-Risk the Banking System?
May 19, 2022As far as major market turmoil goes, banks escaped last week’s TerraUSD collapse largely unscathed. Terra and its corresponding crypto coin Luna plummeted last week, losing nearly all of their value and throwing the wider crypto market into a selloff.
- FOM Modernization Markup Continues into Wednesday
May 18, 2022The House Financial Services Committee will continue its markup of several credit union-supported bills, including the Expanding Financial Access for Underserved Communities, Wednesday. The markup went into Tuesday evening before breaking for a series of votes on the House floor.
- Bipartisan Crypto Plan Would Create Oversight Body for Fintech
May 18, 2022Sen. Cynthia Lummis, R-Wyo., wants to create a new oversight body for emerging financial technologies that do not fall under the jurisdiction of existing regulators.
- With Bills in Markup, Trades Press Congress to Take Action
May 18, 2022CUNA and the state leagues continue to press Congress to support a number of bills that are in markup before the House this week. NAFCU weighed in on the legislation here.
- Three CU-Related Bills Head to Markup in House Today, Including Bill Giving NCUA Oversight of Third Parties
May 17, 2022Three bills of strong interest to credit unions are on the agenda for markup by the House Financial Services Committee, one of which “poses a costly threat to the credit union industry,” according to NAFCU.