Advocate Blog
Join the conversation about the latest laws, regulations and political issues having an impact on Virginia's credit unions.
- League, Greater Hampton Roads CUs Hosting Dec. 1 Legislator Reception
November 16, 2021The Virginia Credit Union League and credit unions in Greater Hampton Roads are hosting a Legislator Reception on Dec. 1 ... and you’re invited! Here’s your chance to network with area lawmakers as we prepare for the 2022 General Assembly, as well as meet our newly elected legislators!
- NCUA Extends Federal Credit Union Meeting Flexibility Through 2022 Due to the COVID-19 Pandemic
November 15, 2021NCUA is extending the flexibility for federal credit unions to conduct meetings virtually in 2022. Learn more.
- Vaccine Mandate Rule: League Offers Initial Assessment; Seeks Answers on Key Legal Questions
November 5, 2021Well, the vaccine mandate rule came out yesterday -- all 490 pages of it! The actual rule part is small and digestible, albeit burdensome to implement. We offer an initial assessment of the rule and our employment law partners at Woods Rogers are working on answers to other key questions important to credit unions. Stay tuned!
- CUs, Banks Square Off in Second Hearing on Years-Long FOM Case
November 2, 2021The second hearing in a now years-long credit union field-of-membership case concluded Friday afternoon before a State Corporation Commission hearing examiner. At issue is a field-of-membership expansion request initiated by Virginia Credit Union in November 2018, to add the not-for-profit Medical Society of Virginia, a membership organization for 10,000 medical professionals, to its field-of-membership.
- In a Positive Development for CUs, White House Framework Omits IRS Reporting Proposal
October 28, 2021The White House's reconciliation framework does not contain the credit union-opposed provision requiring increased reporting to the Internal Revenue Service, according to reports Thursday. Credit unions strongly pushed back against the proposed provision since it was first discussed in the summer.
- Here’s How the Court Will Draw Virginia’s New Political Districts
October 26, 2021The Virginia Redistricting Commission has missed a final deadline to draw new state legislative maps, kicking the process to the Virginia Supreme Court. The court’s seven justices won’t draw the lines. Instead, they’ll hire two experts who will work together to come up with finished maps.
- League Writes Treasury on Issues with Expanded IRS Reporting Requirements
October 25, 2021Your League last week wrote Treasury Secretary Janet Yellen to outline our concerns with a proposal to expand IRS reporting requirements.
- Virginia Reps Among 200-Plus Members of Congress Opposing Expanded IRS Reporting Requirements
October 22, 2021Four Virginia Congressmen have now signed on to various letters opposing expanded IRS reporting requirements - Reps. Wittman, Good, Cline and Griffith. They are among the more than 200 members of Congress who have expressed opposition to the IRS reporting proposal.
- Scott, Colleagues Introduce Bill to Block IRS Snooping Proposal
October 22, 2021A bill from Sen. Tim Scott (R-S.C.) Thursday that would prohibit implementation of increased financial institution reporting to the Internal Revenue Service (IRS), the Prohibiting IRS Financial Surveillance Act. A House companion bill was introduced earlier this week by Rep. Drew Ferguson (R-Ga.).
- Ex-Obama Civil Rights Official Named Chief Enforcement Official for CFPB
October 22, 2021Eric Halperin, a longtime consumer advocate, fair lending litigator and civil rights official at the Justice Department in the Obama administration, has been named enforcement chief at the Consumer Financial Protection Bureau, sources said.