The Safer Federal Workforce Task Force released last Friday the Guidance many have been anticipating to implement President Biden’s Executive Order 14042: Ensuring Adequate COVID Safety Protocols for Federal Contractors (“Order”), issued Sept. 9, 2021. Rules regarding mandates for employers with more than 100 employees are still forthcoming. Importantly for credit unions: the Guidance does not address whether or not a federally insured depository is declared a federal contractor for purposes of the vaccination mandate.

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Each year we come together to celebrate International Credit Union Day (ICU Day)® and raise awareness about what it means for members around the world to have a credit union as their financial partner. Mark your calendar for October 21, 2021.

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You’re invited to participate in our quarterly series of CU-exclusive webinars designed to keep you fully informed of current mortgage lending practices, so you’re better prepared to help your members achieve their dreams of homeownership. Webinars begin Oct. 6.

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Congress might still include a proposal in budget reconciliation that would require financial institutions to report inflows and outflows for many more accounts to the IRS, despite resistance from the financial services industry. The League continues to encourage credit union advocates to use the Grassroots Action Center to send a message to lawmakers outlining our concerns with the proposal.

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The FY22 National Defense Authorization Act (NDAA) passed the House of Representatives on Thursday. In wins for credit unions, the legislation includes the Secure and Fair Enforcement (SAFE) Banking Act and language that would authorize the use of use remote online notarization and create national standards and protections for its use.

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The Government Accountability Office today released a report on the National Credit Union Administration, noting that the agency has opportunities to improve its use of supervisory information to address deteriorating credit unions and its processes for reporting on failures.

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In good news for credit unions, the National Credit Union Administration Board today announced that no National Credit Union Share Insurance Fund (NCUSIF) premium is needed at present to bolster the fund. Additionally, three final rules will get a vote later this year.

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Your League and credit union officials from ABNB Federal Credit Union and Chartway Federal Credit Union met this morning with Rep. Elaine Luria (D-2nd) to discuss a number of key issues for credit unions.

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An amendment adding the Secure and Fair Enforcement (SAFE) Banking Act to the FY22 National Defense Authorization Act (NDAA) passed by voice vote Tuesday night. The SAFE Banking Act has taken on new importance here in Virginia with the state's recent move to legalize cannabis use for adults.

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Senate Democrats moved one step closer late Tuesday to finally approving the Biden administration's nomination of Rohit Chopra as permanent director of the Consumer Financial Protection Bureau. “Once confirmed, we look forward to working with Director Chopra on the regulatory issues that matter to our member credit unions,” noted League President/CEO Carrie Hunt.

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