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CURRENT Newsletter | February 7, 2023

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League Closely Monitoring CU Bill’s Move to State Senate

We’re closely monitoring HB1727, our credit union bill, as it now moves to the state Senate for consideration. Today is Crossover Day in the General Assembly, each chambers’ last chance to pass its own legislation. Beginning tomorrow, each chamber will consider bills passed in the other body.

HB1727 would permit any credit union in the Commonwealth to engage in virtual currency custody services to the same extent as any bank. It passed the House early in the session.

“We appreciate the support our bill has garnered to this point,” noted League President/CEO Carrie Hunt, “but we continue to have conversations with lawmakers to shore up support as the measure begins the next phase of its legislative journey in the state Senate.”

We’re also tracking dozens of other bills for their potential impact on credit unions. View that list here. We also remain firmly focused on our other state-level legislative priorities, including municipal deposits, field-of-membership enhancements, and bank acquisition authority.

League to Host Legislator Reception on Capitol Hill

Your League is hosting a legislative reception in Washington, on Feb. 27 (4 p.m. to 6 p.m.) and you’re invited! We’ll be at the national Credit Union House (403 S. St. NE, Washington, 20002). Although it’s being held as part of the League’s CUNA Governmental Affairs Conference activities, you need not be registered for the GAC to attend. We’ve invited our Congressional Delegation, so please attend if you can. The event is free to attend, but we do ask that you register.

Related: 3 Virginians Among the 2023 GAC Crashers
Related: Hearings on Modern Banking, Housing Scheduled This Week

REGular Blog: Status Update for CFPB Requests for Information on the Credit Card Market

It's critical for our lawmakers and regulators to understand the complexities of the credit card market. We've seen what can happen when it's over-simplified. Last year's Credit Card Competition Act was born from the presumption that the credit card market is uncompetitive and that Visa and Mastercard are taking advantage of merchants. In our latest REGular Blog post, we cover two recent and important notices from CFPB related to credit cards...

Read more
Related: A Deeper Dive on the NCUA's Supervisory Priorities for 2023

League, Fiserv Partnering on April 20 Payments Workshop

The payments industry is constantly changing. Join your League and Fiserv on April 20 for an interactive Payments Workshop to learn how payments are the path to member engagement. Explore solutions that can help you mitigate risk, grow your business, and offer the cash and digital payment options consumers demand.

Register

IGNITE 2023 | League Annual Meeting Returns to Williamsburg

Join us May 24-26 in Williamsburg for IGNITE 2023 and the League Annual Meeting! Networking, education and an opportunity to learn more about our business partners’ products and services and how they could help drive success at your credit union!

EMERGE Leadership Certification Module Set for Feb. 16: Cultivating Employee Engagement and Inclusion

This is the fourth module of our EMERGE Leadership Certification program, but anyone interested in this program is encouraged to register! We'll examine the importance of fostering an inclusive mindset in the workplace and how that helps us grow as individuals and support others. An inclusive, engaged environment improves our ability to recruit and retain top talent; aids us in navigating conflict; and fosters innovative, high-performing and highly productive organizations.

Register

NOTE: Our Emerging Professionals Network (Richmond-area) is hosting a leadership panel from 6 p.m.– 8:30 p.m. on Feb. 15! You can register for this free event here!

IRA Training Slated for Feb. 14-15; Still Time to Register

Whether you are interested in learning the basics or want to explore more advanced topics, our IRA training covers all aspects of IRA plans. Day One covers IRA Essentials and will provide participants a solid foundation to work with IRA owners and process basic IRA transactions with confidence. Day Two builds on the attendees’ basic knowledge to address more complex IRA issues their financial organizations may handle. This is an advanced session; previous IRA knowledge is assumed.

Register through our friends at the Kentucky Credit Union League.

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