Advocate Blog
Join the conversation about the latest laws, regulations and political issues having an impact on Virginia's credit unions.
- Credit Unions Support 49th Running of Cherry Blossom Ten Mile Run
April 4, 2022The men’s and women’s winners made history and credit unions presented a check for $323,000 to Children’s Miracle Network (CMN) Hospitals Sunday morning at the Credit Union Cherry Blossom Ten Mile Run. Your League and a number of Virginia-based credit unions are sponsors of the run.
- NCUA Says It Could Meet Just One-Third of Requests from Smaller CUs
April 4, 2022NCUA was only able to cover approximately one-third of the requests it received for technical assistance from small credit unions during 2021.
- General Assembly to reconvene Monday to Finalize Budget
April 4, 2022Lawmakers are returning to Richmond Monday after being summoned last month for a special session by Gov. Glenn Youngkin to finalize the state’s biennial budget. But more than three weeks after the General Assembly adjourned its regular session on March 12, budget conferees have been unable to close the $3 billion gap that still separates the spending bills of both parties, with most disagreements relating to different versions of tax relief proposals. Learn more
- States Work to Stifle Credit Union Acquisitions of Banks
April 1, 2022Several U.S. states are taking the matter of credit unions acquiring banks into their own hands.
- CU Overdraft Programs Designed with Members in Mind
April 1, 2022UW Credit Union President/CEO Paul Kundert testified before the House Financial Services Subcommittee on Consumer Protection and Financial Institutions Thursday for its hearing on overdraft programs. In advance of the hearing CUNA submitted its own letter for the record, in addition to a joint letter with the National Association of Federally Insured Credit Unions.
- House Passes Bill Decriminalizing Marijuana; Senate Fortunes Unclear
April 1, 2022The House on Friday passed legislation that would remove marijuana from the federal schedule of controlled substances, a move that comes as an increasing number of states have passed decriminalization laws.
- US Treasury Proposes 4 Digital Asset-Related Tax Reporting Requirements
March 31, 2022President Joe Biden's proposed 2023 budget included four new tax reporting requirements related to digital assets.
- Expanded Anti-Discrimination Guidelines Create Compliance Challenge for US FIs
March 30, 2022Financial institutions are scrambling to comply with heightened anti-discrimination standards across a range of financial services after the federal consumer watchdog agency issued new guidelines without industry input.
- Omnibus Spending Package Includes 'Adjustable Interest Rate (LIBOR) Act'
March 30, 2022The Consolidated Appropriations Act, 2022 includes an important update via the Adjustable Interest Rate (LIBOR) Act, which addresses the replacement of the London Interbank Offered Rate (LIBOR) in existing contracts.
- Credit Unions are Best Way for Small Business to Access Services
March 30, 2022The Small Business Administration’s (SBA) government guaranteed lending programs epitomize successful public-private partnerships, CUNA wrote to the House Small Business Committee Tuesday. The committee conducted a hearing entitled “Catalyzing Economic Growth through SBA Community-Based Lending,” and CUNA noted its opposition to any proposals that allow SBA to implement a direct lending program.