Blog
- League, Credit Unions Push Secondary Capital, 'Parity Powers' Bills in General Assembly
January 13, 2022The League and credit unions have two bills that were introduced this session – companion bills HB268/SB326 will fix the Virginia statute so that the NCUA’s Subordinated Debt Rule will not be in conflict with the Virginia Code. Companion bills HB209/SB329 will make the process easier for state-chartered credit unions to exercise the same powers as federally chartered credit unions. Currently, state-chartered credit unions must seek permission to do this; we are asking that be changed to a notice requirement.
- McPike, Torian, Carroll Foy out of race for 7th Congressional District
January 12, 2022The field of potential Democratic challengers to Rep. Abigail Spanberger in the new 7th Congressional District has narrowed as a number of high-profile elected officials have dropped out of the race for the nomination in a Democratic-leaning district that is expected to be highly competitive for Republicans.
- Economic Update Examines Financial Well-Being for All Details
January 12, 2022CUNA Chief Economist Mike Schenk takes an in-depth look into CUNA’s Financial Well-Being for All initiative in this month’s Economic Update video. Schenk also discusses how Financial Well-Being for All informs CUNA and League strategy, and how CUNA is approaching the initiative internally.
- League Meets with Key Lawmakers, Newest Members of the House as General Assembly Convenes
January 12, 2022We're off and running at the Virginia General Assembly! This morning, League President/CEO Carrie Hunt and Grassroots Programs and Political Fundraising Director CeJae Vtipilson met with all 17 new members of the House or one of their key aides.
- Virginia League Joins System Partners in Calling for Relief from PCA Challenges
January 10, 2022The Virginia League joins system partners in asking for additional PCA relief. The current interim final rule is scheduled to expire March 31.
- 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.