Advocate Blog
Join the conversation about the latest laws, regulations and political issues having an impact on Virginia's credit unions.
- Despite Guidance, Questions Remain for Credit Unions on President's Vaccine Mandate
September 27, 2021The Safer Federal Workforce Task Force released last Friday the Guidance many have been anticipating to implement President Biden’s Executive Order 14042: Ensuring Adequate COVID Safety Protocols for Federal Contractors (“Order”), issued Sept. 9, 2021. Rules regarding mandates for employers with more than 100 employees are still forthcoming. Importantly for credit unions: the Guidance does not address whether or not a federally insured depository is declared a federal contractor for purposes of the vaccination mandate.
- Biden’s IRS Reporting Proposal for FIs Still in Play; Critical CUs Continue Outreach to Lawmakers
September 24, 2021Congress might still include a proposal in budget reconciliation that would require financial institutions to report inflows and outflows for many more accounts to the IRS, despite resistance from the financial services industry. The League continues to encourage credit union advocates to use the Grassroots Action Center to send a message to lawmakers outlining our concerns with the proposal.
- NDAA Passes House With Two CU-Supported Measures Included
September 24, 2021The FY22 National Defense Authorization Act (NDAA) passed the House of Representatives on Thursday. In wins for credit unions, the legislation includes the Secure and Fair Enforcement (SAFE) Banking Act and language that would authorize the use of use remote online notarization and create national standards and protections for its use.
- League, CU Representatives Meet with Rep. Luria on IRS Reporting Requirements, Interchange Issues
September 23, 2021Your League and credit union officials from ABNB Federal Credit Union and Chartway Federal Credit Union met this morning with Rep. Elaine Luria (D-2nd) to discuss a number of key issues for credit unions.
- SAFE Banking Act Successfully Added to House NDAA; Would Address Banking Needs of Legitimate Marijuana Businesses
September 22, 2021An amendment adding the Secure and Fair Enforcement (SAFE) Banking Act to the FY22 National Defense Authorization Act (NDAA) passed by voice vote Tuesday night. The SAFE Banking Act has taken on new importance here in Virginia with the state's recent move to legalize cannabis use for adults.
- Once Confirmed, League Ready to Work With New CFPB Director
September 22, 2021Senate Democrats moved one step closer late Tuesday to finally approving the Biden administration's nomination of Rohit Chopra as permanent director of the Consumer Financial Protection Bureau. “Once confirmed, we look forward to working with Director Chopra on the regulatory issues that matter to our member credit unions,” noted League President/CEO Carrie Hunt.
- Two Virginians Appointed to CFPB's Credit Union Advisory Council
September 22, 2021CFPB Acting Director Dave Uejio this week announced the appointment of new members to the agency's Credit Union Advisory Council (CUAC), including Virginians Jose Iregui (Langley Federal Credit Union) and Deb Wreden (Virginia Credit Union) Iregui will serve as chair of the CUAC.
- League's CeJae Vtipilson Promoted to Grassroots Programs and Political Fundraising Director
September 16, 2021CeJae Vtipilson has assumed a new role at the Virginia Credit Union League following his promotion to Director, Grassroots Programs and Political Fundraising. Learn more
- An Early Win on IRS Reporting Requirements, But CUs' Engagement Still Critical as Fight Continues!
September 16, 2021We cannot let up on fight over IRS reporting requirements. If you have not sent a letter or an email, or made a phone call to your lawmakers, please do so right now!
- League Engaged on Vaccine Mandate; Resources Available to Aid CUs
September 15, 2021In light of last week’s announcement from the Biden Administration to mandate vaccinations for employers with 100 or more employees, your League has been actively engaged in dialogue on this issue with policymakers, including the Department of Labor and trade association partners. Our partner attorneys at Woods Rogers have also provided two articles that will aid credit unions as they plan for and carefully consider their next steps.