Latest News & VACUL Headlines
- CFPB Targeting Credit Card Late Fees in League-Opposed Proposed Rule
February 1, 2023The Consumer Financial Protection Bureau moved Wednesday to slash what is effectively a regulatory cap on most credit card late fees, unveiling a proposal for tougher fee limits that the banking industry is slamming as "extreme."
- Tidewater Chapter Accepting Applications for Leigh Ann Graham Scholarship (formerly the Jack E. O'Connor Scholarship)
January 31, 2023The Tidewater Chapter is accepting submissions for its 2023 Leigh Ann Graham Scholarship (formerly the Jack E. O’Connor Scholarship). The Scholarship provides support for deserving high school seniors and continuing college students who are members of Tidewater Chapter credit unions. Applications must be postmarked by April 19, 2023, to be eligible for consideration.
- League Writes All State Lawmakers in Support of Key Bills
January 31, 2023In a letter yesterday to every member of the General Assembly, your League outlined three priority pieces of legislation for credit unions, including our own virtual assets custody services bill.
- Virginia Business Article Highlights League’s Advocacy Work
January 31, 2023The latest issue of Virginia Business magazine features a lengthy article on the advocacy work of credit unions and the League to enhance the credit union charter. Featured prominently in the article is League President/CEO Carrie Hunt, who notes our efforts to address field-of-membership issues, including an easier path for credit unions to reach underserved areas; authority for credit unions to hold municipal deposits; credit unions’ ability to offer virtual currency services; and clarity surrounding financial institutions’ ability to serve legal cannabis businesses.
- Unleash the Power of Saving at Your Credit Union
January 31, 2023This April, celebrate the spirit of the credit union movement with younger members during National Credit Union Youth Month. During this industry-wide celebration, you can help plant the seeds of financial well-being.
- State Senate Committee Kills League-Opposed PACE Loans Bill for Residential Dwellings
January 30, 2023League Chief Advocacy Officer JT Blau testified today before the state Senate's Local Government Committee in opposition to a bill extending PACE loans to residential dwellings. The Committee killed the bill for this year though chief patron Sen. Chap Peterson said he would revisit the issue in preparation for the next General Assembly session, likely offering the measure as a separate code section.
- NCUA Releases New Updated FAQs on CECL, Simplified CECL Tool
January 30, 2023The NCUA has released updates to its frequently asked questions on the current expected credit losses (CECL) accounting standard and its Simplified CECL Tool.
- House Passes CU Board Modernization Bill; Rep. Griffith Signed on as Co-Sponsor
January 30, 2023H.R. 582, the Credit Union Board Modernization Act, passed the U.S. House today on a voice vote. Rep. Morgan Griffith (R-9th) signed on to the measure as a co-sponsor.
- REMINDER: Tidewater Chapter Hosting Annual Meeting on Feb. 9
January 30, 2023Mike Burke, Senior Robbery and Crisis Management Consultant from Shazam, will be the featured guest speaker at the Tidewater Chapter’s Feb. 9 Annual Meeting. The Chapter will also elect its Governing Board for 2023-2025.
- League Seeks Delegation's Support for Bipartisan Credit Union Board Modernization Act
January 27, 2023Your League this week asked members of Virginia's Congressional delegation to support H.R. 582, the Credit Union Board Modernization Act. Reps. Juan Vargas, D-Calif., and Bill Huizenga, R-Mich., introduced the CUNA-League-led bill that would update the Federal Credit Union Act by modifying the requirement that credit union boards meet once a month to not less than six times per year.