CURRENT Newsletter | April 28, 2023

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Credit Unions Join League for Meeting with Congresswoman Spanberger

Credit union advocates from Apple Federal Credit Union, CommonWealth One Federal Credit Union, Topside Federal Credit Union, and UVA Community Credit Union joined the League today in a virtual meeting with U.S. Rep. Abigail Spanberger (D-7th).

League Praises House Committee Passage of CFPB Reforms

Your League was pleased to see the House Financial Services Committee on Wednesday pass long-supported measures to bring more congressional oversight to the Consumer Financial Protection Bureau.

“Every Virginia-based credit union has a stake in this debate over the future of the CFPB and an interest in seeing the CFPB become more consistent as a regulator,” noted Carrie Hunt. “A fairly regulated, competitive financial services marketplace benefits all parties – consumers and service providers alike.”

SAFE Banking Act Reintroduced in Congress; Measure Remains on League's Legislative 'Watch List'

A measure to provide protections for financial institutions serving cannabis-based business in states where it is legal has been reintroduced in both the U.S. House and Senate. A longtime priority for the financial services industry, this measure has garnered significant bipartisan support in previous sessions of Congress, but never enough to win passage by both chambers.

“While the League takes no position on cannabis use itself, passage of the SAFE Banking Act would provide Virginia’s financial institutions with needed clarity and protections should they choose to serve the industry once an adult-use retail market is established here in the Commonwealth,” noted League Chief Advocacy Officer JT Blau.

You’re Invited! Inaugural VACUPAC Private Wine-Tasting & Networking Lunch Set for May 24

We’re pleased to announce a new private wine-tasting and networking event at IGNITE (hosted at the Williamsburg Winery), which will benefit the Virginia Credit Union Political Action Committee! Although this event is part of IGNITE 2023, you don’t need to be registered for IGNITE to attend the Lunch! VACUPAC is the non-partisan PAC of Virginia-based credit unions, which supports lawmakers and political candidates who support credit unions. There are also sponsorship opportunities for this event. Learn more!

Calling All Golfers, Sponsors: VACUPAC Challenge Tees Off May 24

Kickstart your IGNITE | Annual Meeting experience by hitting the links in the 34th Annual VACUPAC Golf Challenge, being held May 24 in Williamsburg. Proceeds from the tournament support the Virginia Credit Union Political Action Committee (VACUPAC), the non-partisan PAC working for the benefit of all Virginia-based credit unions. You can support the tournament as a golfer, as a sponsor, and even better, both! NOTE: Although this event is part of IGNITE 2023, you don’t need to be registered for IGNITE to participate.

Richmond-Area VACUPAC Golf Tournament Set for May 9

Sponsored by Henrico Federal Credit Union, the Bill Dawson VACUPAC Golf Tournament tees off May 9, at the Hunting Hawk Golf Club! It’s another great way to support our advocacy efforts! Golfers needed; sponsors needed!

EPN Networking Event at Precarious Beer Project May 24

Join us for a night of networking, excellent beer and video games! The Emerging Professionals Network is hosting a special event at Precarious Beer Project in Williamsburg, beginning at 7 p.m. Everyone is welcome and you need not be registered for IGNITE.

Comments on Credit Card Late Fee Proposal Due May 3

Comments on the Consumer Financial Protection Bureau’s proposal on credit card late fees are due May 3.