Advocate Blog
Join the conversation about the latest laws, regulations and political issues having an impact on Virginia's credit unions.
- League Celebrating the Commonwealth's Credit Unions at CUNA Governmental Affairs Conference
March 1, 2022Virginia is well-represented at this year's CUNA Governmental Affairs Conference, with more than 130 attendees on hand from 18 Virginia-based credit unions.
- CU Parity Measures Reach Final Legislative Step; On Their Way to Governor's Desk and Becoming Law
March 1, 2022As of today, our two credit union parity measures have won final approval in both houses of the General Assembly and await the governor’s signature.
- CUNA Backs Section 1071 Reform Legislation
February 23, 2022CUNA wrote in support of legislation Tuesday that would reform Section 1071 of the Dodd-Frank Act. Section 1071 of the Dodd-Frank Act requires financial institutions collect and report certain data regarding applications for credit for women-owned, minority-owned, and small businesses to the Consumer Financial Protection Bureau (CFPB).
- Nussle to Congress: Open Capitol Hill
February 22, 2022As thousands of credit union activists prepare to travel to Washington for the Credit Union National Association Governmental Affairs Conference next week, CUNA President/CEO Jim Nussle is urging Congress to reopen Capitol Hill so the activists can easily meet face to face with elected officials.
- Merchants Payments Coalition Using UK Settlement to Demand Changes on U.S. Interchange Fees
February 22, 2022Merchants are making a renewed push for action on interchange fees. The Merchants Payments Coalition (MPC) is calling on officials in the United States to do something about credit card interchange fees following an announcement that Amazon has agreed to continue accepting Visa credit cards in the United Kingdom.
- Legislation Would Help CUs Close Economic Disparities
February 18, 2022One of the most important things that Congress could do to close economic disparities, promote financial inclusion, and help small businesses would be to ensure that federal law permits all federal credit unions to serve underserved areas, CUNA wrote to the Senate Banking, Housing, and Urban Affairs Committee Thursday.
- NCUA Approves CUNA/League Requested Extension of PCA Relief
February 18, 2022The NCUA board approved an interim final rule extending COVID-19 Prompt Corrective Action relief through the end of March 2023. CUNA, the American Association of Credit Union Leagues, and all Leagues wrote to NCUA calling on it to extend the rule before its scheduled March 31 expiration.
- CFPB to Accept Public Petitions for Rulemaking
February 18, 2022The CFPB is now accepting petitions for agency action submitted directly by members of the American public, according to a press release and a new portal that was opened last week. In support of this change, the Bureau cited to the U.S. Constitution's guarantee of the public's right to petition the government. This initiative represents the latest step by the CFPB in pursuit of its agenda to increase consumer input into its decisions and the transparency of its decision-making.
- CUNA GAC: Changes to D.C. Vaccination, Mask Requirements
February 15, 2022GAC Attendees: Washington D.C. city officials announced yesterday they are ending their vaccine verification requirement effective today. They have also indicated the indoor mask requirement will expire on Feb. 28.
- CUs Notch Another Win in Years-Long State-Level FOM Battle
February 15, 2022Marking another significant win in a state-level field-of-membership battle with bankers now stretching into its third year, a State Corporation Commission hearing examiner sided strongly with Virginia Credit Union and the League.