CURRENT Newsletter | December 22, 2022

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Happy Holidays from Your League!

From all of us at your League, Happy Holidays! The League office is closed Dec. 23, Dec. 26, and Jan. 2 for the holidays! Have a wonderful holiday!
NOTE: This is the final edition of CURRENT for 2022 … Look for our next edition on Jan. 3.

CU Day at the General Assembly: Our Premier State-Level Advocacy Event Returns Jan. 19!

Credit Union Day at the Virginia General Assembly returns Jan. 19 and we need you in Richmond! We're looking for at least 200 credit union champions to join us as we educate state lawmakers about the "Credit Union Difference" and fight for credit union-backed legislation.

Learn more and register

Special Elections Set for Jan. 10

A reminder: Voters will go to the polls on Jan. 10 for special elections in the following districts: 7^th Senate District (Norfolk/Virginia Beach); 24^th House District (Amherst/Augusta/Bath, etc.), and the 35^th House District (Fairfax County). Your League is anticipating a busy General Assembly session, and we’ll be watching these special elections closely as we work to advance our agenda.

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State Sen. McClellan Wins Democratic Primary in 4th Congressional District Race

State Sen. Jennifer McClellan has won the Democratic nomination for Virginia's 4th Congressional District in the special election to succeed the late Rep. Donald McEachin.

“We congratulate state Sen. McClellan on her win in the Democratic primary. Credit unions will be closely watching the 4^th Congressional District race as it marches toward the special election on Feb. 21,” said Virginia Credit Union League President/CEO Carrie Hunt. 

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Republicans Nominate Leon Benjamin in 4th Congressional District

Fourth District Republicans on Saturday nominated Leon Benjamin, a Richmond minister, as the party’s candidate in the Feb. 21 special election for the seat of former Rep. Donald McEachin.

“We congratulate Mr. Benjamin on his successful bid to represent Republicans on the ballot in the 4^th Congressional District. As we ready for the special election on Feb. 21, credit unions are already at work preparing for what promises to be a busy session in Washington,” notes Virginia Credit Union League President/CEO Carrie Hunt. 

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Virginia's Credit Union Advocates to Gather in Washington at 2023 CUNA GAC

CUNA Governmental Affairs Conference (GAC), the credit union industry’s premier advocacy event, returns to Washington, D.C., Feb. 26 to March 2, 2023.

Learn more
Related: CUNA Announces Robert Lewis as New EVP/Chief Advocacy Officer

Luetkemeyer Introduces Federal Data Breach Notification Bill

Rep. Blaine Luetkemeyer, R-Mo. introduced a bill Thursday that would create a national data breach notification standard, the Consumer Information Notification Requirement Act.

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NCUA Hosts Diversity Self-Assessment Webinar Jan. 5

The NCUA is on track to have its best year to date for credit unions submitting the Credit Union Diversity Self-Assessment, which is the topic of a Jan. 5 webinar. This webinar is a great resource, especially for credit unions looking to take the first steps on their diversity, equity, and inclusion journey.

Register

News of Note

• Tidewater Chapter Meets Jan. 12 (Preview of 2023 General Assembly Session)
• CULAC Names 2023-24 Board of Trustees; 1st Advantage FCU's Paul Muse Represents Virginia
• Alignment of Systems, Processes Would Help CUs Reach Underserved
• Omnibus Bill Funds CU Priorities, Addresses CDFI Concerns
• Huge Spending Bill Does Not Include Card Competition Act, NCUA Vendor Authority; Does Include Some CU-Favored Provisions
• NCUA Releases 3Q 2022 State-Level Data Report
• FSOC: NCUA’s Lack of Third-Party Oversight Power Poses Risk to System
• Even As Congress Declines to Act Again, NCUA Chair Praises Treasury Sec for Support of Third-Party Oversight Authority
• Congress Wants to Change How You Save for Retirement. Here's What to Know
• CFPB Auto Lending Announcement Has Insufficient Info, Wrong Assumptions
• Financial Services Coalition Asks Congress to Help Block CDFI Proposal
• Proposed CDFI methodologies could violate Equal Credit Opportunity Act
• US Senate Banking Committee's Chairman Says 'Maybe' to Banning Cryptocurrency
• Two Different Camps of State AGs Want SCOTUS Review of CFPB Constitutionality, But for Different Reasons
• Can the Supreme Court Distinguish the CFPB's Funding from Other Agencies'?
• Supreme Court Asked to Review Lower Court Decision on Credit Reporting