Advocate Blog
Join the conversation about the latest laws, regulations and political issues having an impact on Virginia's credit unions.
- CFPB Withdraws Proposal to Delay Debt Collection Rules
September 1, 2021The Consumer Financial Protection Bureau (CFPB) Wednesday withdrew its April proposal to delay the effective dates of its debt collection rules by 60 days.
- Take Action: Tell Congress to Oppose New IRS Reporting Provisions
September 1, 2021We issued an action alert this week calling on credit union leaders to oppose new Internal Revenue Service reporting provisions that would require financial institutions to report additional detailed account holder information.
- House Committee to Begin Markup of NDAA
August 31, 2021The House Armed Services Committee will begin its markup of the National Defense Authorization Act (NDAA) for fiscal year 2022 Wednesday at 10 a.m. Your League and other industry partners have pushed lawmakers to reject any proposed language that would require DoD to treat for-profit banks the same as credit unions when it comes to leases and lease costs for on-base branches.
- IRS Reporting Requirements: Talking Points and Background
August 31, 2021In an effort aimed at increasing taxpayer compliance, the Biden Administration has proposed that financial institutions be required to report additional account holder information in an enhanced annual IRS Form 1099-INT, adding to credit unions' compliance costs and regulatory burden.
- League Fights Bank Effort to Win New Branch Lease Rights on Military Bases
August 31, 2021Your League has written Reps. Elaine Luria (D-2nd) and Rob Wittman (R-1st) asking them to oppose any provision in the 2022 National Defense Authorization Act that would require DoD to treat banks the same as credit unions when it comes to leases for on-base branches.
- Waters Announces September House Financial Services Committee Schedule
August 31, 2021Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, announced the following schedule for the month of September.
- Pages From the Diary of Mrs. C. Hunt - Aug. 31, 2021
August 31, 2021In her latest Diary post, League President/CEO Carrie Hunt spotlights Virginia credit unions' service to members of the military, important advocacy issues we're tracking, and the upcoming meet-and-greet event we're hosting in Washington! View it here!
- League Writes Lawmakers in Opposition to Expanded 1099s
August 24, 2021Your League this week wrote members of the Virginia Congressional Delegation urging them to oppose the Senate’s Fiscal Year 2022 Budget Resolution that proposes financial institutions be required to report significant amounts of aggregate data to the IRS through an expanded Form 1099-INT.
- League President/CEO Carrie Hunt Offers Perspective on Top Federal Legislative, Regulatory Issues
August 10, 2021 - League Urges Policy Change for CUs With Regard to Ginnie Mae Eligibility Requirements for Single-Family MBS Issuers
August 9, 2021