Blog
- Subordinated Debt Rule Would Help Lending to Underserved Communities
December 8, 2022CUNA supports NCUA’s subordinated debt proposal, it wrote to the agency in comments filed Monday. The current subordinated debt rule limits the maturity of Subordinated Debt Notes to a maximum of 20 years and terminates regulatory capital treatment for Grandfathered Secondary Capital (GSC) after 20 years beginning on the later of the date of issuance or Jan. 1, 2022.
- NCUA Notes End of Emergency Exemption for Certain In-Person Meeting Requirements, But League Pleased to See Some Flexibility Measures Remain
December 7, 2022In a Letter to Federal Credit Unions (22-FCU-03), NCUA notes that emergency exemptions from certain in-person meeting requirements for federal credit union boards will expire at year-end 2022. However, of note for federal credit unions, the agency says in its letter that some measures offering flexibility as it relates to meeting and meeting notice requirements will remain, including measures for which your League fought.
- CUNA Backs Senate Bill to Close ILC Loophole
December 7, 2022CUNA supports a bill to close the industrial loan company (ILC) loophole, introduced Tuesday by Senate Banking Committee Chairman Sherrod Brown, D-Ohio, Sen. Bob Casey, D-Pa., and Sen. Chris Van Hollen, D-Md. The bill would close a loophole that allows ILC to gain all of the advantages of an FDIC-insured bank charter.
- Proposed CDFI Fund Application Would Exclude ‘Significant Swaths’ of CUs
December 6, 2022The Treasury’s Community Development Financial Institutions (CDFI) Fund’s proposed certification application contains multiple provisions that would inappropriately exclude credit unions doing good work, CUNA wrote to the CDFI Fund Monday.
- CUs, League Meet With Gov. Glenn Youngkin on CU Issues and Economic Challenges
December 2, 2022Representatives from more than a dozen credit unions and the League met today with Gov. Glenn Youngkin and key administration officials.
- Applications to 'Crash the GAC' Open through Dec. 2
December 1, 2022Filene Research Institute, the Cooperative Trust, and CUNA announced Crash the GAC is bringing back its 14th cohort to Washington D.C. Applications for Crash the GAC are now open and the deadline to apply is Friday, Dec. 2.
- CFPB Guidance, Enforcement Hang in the Balance of US Supreme Court Appeal
November 30, 2022Financial institutions across the country are carefully monitoring the Consumer Financial Protection Bureau's appeal to the U.S. Supreme Court as the fate of the agency's funding, guidance and enforcement actions hang in the balance.
- NAFCU Compliance Blog: Fall 2022 Supervisory Highlights Part I: Auto Servicing, Consumer Reporting, Credit Card Account Management, and Debt Collection
November 30, 2022The CFPB recently released its biannual Supervisory Highlights, which provides an overview of certain financial regulatory trends. The CFPB issues the Supervisory Highlights to provide insight on various compliance pitfalls and examination trends.
- League Statement on the Passing of Rep. Donald McEachin
November 29, 2022The Virginia Credit Union League today issued the following statement on the passing of Rep. Donald McEachin. "We are saddened to hear of the passing of Rep. Don McEachin, a respected voice and dedicated champion for the Richmond area and south Central Virginia. Our thoughts and prayers go out to his family, friends and colleagues."
- League’s Advocacy Work Hits High Gear as We Ready for New Congress, General Assembly
November 29, 2022Your League is gearing up for a busy few weeks on the political front at both the state and federal levels.