Latest News & VACUL Headlines
- Small Business Data Collection: Share Your Concerns With CFPB
November 30, 2021As you know, the CFPB recently issued a proposed rule that would require financial institutions to collect and report data on the credit applications of small businesses. The CFPB needs to hear from credit unions on this. TAKE ACTION NOW
- CUs Gear Up for Renewed Fight in Senate Over IRS Reporting Requirements
November 30, 2021Our fight over new IRS reporting requirements continues. While the U.S. House of Representatives recently passed the Build Back Better bill without the IRS reporting requirement, the fight in the U.S. Senate is growing more heated, led, in part, by one of Virginia's own - Sen. Mark Warner. We will need your continued support on this!
- League Supports Marijuana Banking Provisions' Inclusion in NDAA
November 30, 2021Your League has contacted the office of Sen. Tim Kaine to express support for keeping the marijuana banking provisions added by the House in the National Defense Authorization Act for Fiscal Year 2022 (NDAA). Sen. Kaine is a member of the Armed Services Committee. We are keenly interested in the marijuana banking provisions added by the House, given that the Commonwealth is legalizing adult-use cannabis.
- ValleyStar Credit Union Opens Doors to New Location
November 29, 2021ValleyStar Credit Union will open the doors of its new administrative building in the Summit View Business Park in Rocky Mount, on Dec. 10.
- NextMark CU CEO Joe Thomas Re-Elected to CUNA Board
November 29, 2021NextMark Credit Union CEO Joe Thomas has been re-elected to the CUNA Board. Thomas also serves on the League Board of Directors.
- Efforts to Oppose IRS Reporting Requirements' Inclusion in Build Back Better Bill Must Continue, as Senate Looks to Pass Measure by Christmas
November 24, 2021The Build Back Better bill that recently passed the House is now in the Senate. The League is continuing to push to keep the IRS reporting provision out, but Sen. Warner is on the record as supporting the provision.
- House Passes Build Back Better Without IRS Reporting Language
November 22, 2021The House passed the Build Back Better Act Friday without the expanded Internal Revenue Service (IRS) reporting requirements present in early forms of the bill. Credit unions sent more than 800,000 messages in opposition to the requirements, which were left out of the final release of the House bill.
- Registration Open for NCUA Consumer Compliance Webinar Dec. 1
November 22, 2021Credit unions can get valuable information on a range of fair lending and consumer compliance topics during an upcoming webinar hosted by NCUA Dec. 1. Registration for "2021 Consumer Compliance and Fair Lending Regulatory Update" is now open.
- New CUNA Council Members Join for 2022, Get Remainder of 2021 Included
November 22, 2021CUNA Councils, the only credit union-specific professional development organization run by credit union leaders for credit union leaders, is welcoming new members. By joining now, new members will receive the remainder of 2021 and all of 2022 at the price of a 12-month membership.
- Leigh Ann Graham Recognized with Virginia League's Farley Award of Excellence
November 22, 2021Leigh Ann Graham has been awarded the Virginia Credit Union League’s Eugene H. Farley Jr. Award of Excellence. Graham, Vice President of Mortgage Lending Services at Beach Municipal Federal Credit Union, was recognized for two decades of leadership and service, as a volunteer, to the League’s Tidewater Chapter,