Advocate Blog
Join the conversation about the latest laws, regulations and political issues having an impact on Virginia's credit unions.
- NCUA Revises Call Report Beginning with the March 2022 Reporting Cycle
January 10, 2022Following the NCUA Board’s approval of a final rule that simplifies the risk-based capital requirements for eligible, complex credit unions, and as part of its Call Report Modernization Initiative, the NCUA has modified the Call Report, Form 5300, beginning with the March 2022 reporting cycle.
- League Comments on CFPB's Small Biz Data Collection Proposal
January 7, 2022Your League this week submitted comments on the Consumer Financial Protection Bureau's proposed data collection under Section 1071 of Dodd-Frank, arguing the proposal represents an incredibly burdensome new regulation for community lenders, like credit unions.
- 2022 Inclusiv Annual Conference Scholarships: Apply Now
January 7, 2022Registration is open for the 2022 Inclusiv Annual Conference and scholarships are available for member credit unions with assets of less than $25 million. Credit unions that meet these criteria are encouraged to apply. Thanks to a generous donation from Cliff Rosenthal, former President/CEO of Inclusiv, we will be able to assist a few of these small CUs with travel and hotel costs this year.
- New Ginnie Mae Director Should Examine Treatment of CUs
January 6, 2022CUNA raised several pertinent credit union issues with new Government National Mortgage Association (GNMA) President Alanna McCargo in a letter Thursday. McCargo was confirmed to lead the agency in December.
- CUNA Backs TDR Changes for FIs That Have Adopted CECL
January 5, 2022CUNA supports a proposed accounting standards update from the Financial Accounting Standards Board (FASB), it wrote FASB in late December.
- Important Notice About CUNA's Governmental Affairs Conference: DC Mask, Vaccine Requirements
January 5, 2022CUNA Governmental Affairs Conference attendees will be required to follow all local and federal guidelines that are in place at the time of our conference. In advance of your arrival to Washington D.C., CUNA will be asking you to verify your vaccine status through an independent provider. Details will be shared once the verification protocols have been finalized.
- CFPB: HMDA Filing Period Has Begun
January 5, 2022The CFPB has notified email update subscribers that the filing period for HMDA data collected in 2021 opened on Jan. 1, 2022. Access the HMDA Platform to begin the filing process for data collected in 2021 at https://ffiec.cfpb.gov/filing.
- Jan. 24 Deadline to Submit Comments on NCUA’s Draft Strategic Plan
January 4, 2022Comments on the NCUA's draft Strategic Plan are due on or before Jan. 24. Learn more
- FASB Told of Concerns by NAFCU Over Lack of Guidance on TDRs, Other Disclosure Issues
January 3, 2022NAFCU has sent a letter to the Financial Accounting Standards Board (FASB) sharing the association’s response to the Proposed Accounting Standards Board Update that eliminates accounting guidance for troubled debt restructurings (TDR) and enhances certain disclosure requirements.
- Credit Union Regulator Gives Preliminary Go-Ahead on Crypto Partnerships
January 3, 2022Credit unions have received their first green light from the National Credit Union Administration to partner with crypto firms to help members to manage digital assets. Many credit unions were hesitant to delve into the cryptocurrency market amidst concerns of regulatory backlash from the NCUA. The agency offered clarity this month to address concerns voiced by many in the credit union industry.