Is the cyberthreat information-sharing bill steaming through Congress a privacy disaster waiting to happen?
The Cybersecurity Information Sharing Act gives government agencies and businesses free rein to share information about cyberthreats, presumably the better to go after hackers and prevent data breaches.... More
Mark these dates on your calendar: December 4 and December 11.
December 4 is the date on which authorization for the Highway Trust Fund expires. This is important to credit unions because the House-passed reauthorization bill includes two credit union provisions: one would modernize... More
(From CUNA's News Now, Nov. 4)
As a bill to give federal savings associations rights and duties equal with national banks passed a U.S. House committee, a series of lawmakers said Congress should also focus on relief for credit unions, which have a superior safety and soundness record.
The House Financial... More
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State Sens. Frank Ruff (R-15) and Bill Stanley (R-20), Del. Charles Poindexter (R-9) , and staff for Sen. Tim Kaine (D-VA) and Congressman Morgan Griffith (R-9) and Robert Hurt (R-5) spoke at the Piedmont Chapter’s annual legislative... More
Senate lawmakers pressed government officials about whether they’re doing enough to protect the financial system from cyberattacks on Wednesday, warning that more must be done next year to help financial institutions defend themselves.
The issue has gained considerable traction over the past year since... More
CU at the polls next Tuesday! Hard to believe Election Day is right around the corner, and as a reminder, your League has formally endorsed three candidates this year:
- Sen. Mark Warner in the U.S. Senate race.
- Former Lt. Gov. Don Beyer, who is running for the 8th Congressional District seat.... More
Join other credit union executives, board members and game-changers at the 2015 CUNA Governmental Affairs Conference.
Visit gac.cuna.org for more information and to register.
As a reminder, your League has formally endorsed three candidates this year:
- Sen. Mark Warner in the U.S. Senate race.
- Former Lt. Gov. Don Beyer, who is running for the 8th Congressional District seat. He hopes to replace the retiring Jim Moran.
- Barbara Comstock, who is seeking the 10th Congressional... More
Banks have lost so much consumer information to hackers this year that two members of Congress are asking them to come clean with the extent of the damage.
Tuesday morning, 16 financial institutions received letters from Sen. Elizabeth Warren and Rep. Elijah E. Cummings asking them to admit that they... More
The U.S. House of Representatives' planned recess the week of CUNA's Governmental Affairs Conference is forcing your League to revamp our plans. As you know, we have traditionally hosted our Congressional Luncheon during the week of the GAC. With the planned recess, we've decided instead to invite lawmakers... More
League President Rick Pillow met yesterday with Dave Brat, the Republican candidate for the 7th House District.
Brat toppled House Majority Leader Eric Cantor earlier this year in a primary. Pundits put Brat ahead in the race against Democrat Jack Trammell in the heavily Republican district.
Brat has visited... More
(From CUNA's News Now)WASHINGTON (9/9/14)--Federal legislators on both sides of the aisle have joined their voices with the unprecedented 2,056 comments from people and organizations expressing concerns with the National Credit Union Administration's risk-based capital (RBC) proposal. Since the rule... More
Credit union representatives from Chartway Federal Credit Union and ABNB Federal Credit Union met with Congressman Randy Forbes (R-4) on Thursday in his Chesapeake office. Topics included regulatory burden, especially with the added rules handed down by the Consumer Financial Protection Bureau, inequity... More
CUNA and several state leagues participated in national meetings of state legislators this summer; ensuring that credit union interests were advanced and protected. Promoting the milestone of 100 million memberships was a key component of our advocacy work at the annual Legislative Summit of the National... More
The Virginia Credit Union League, the statewide trade association representing 164 not-for-profit credit unions and their 3.25 million member-owners, is endorsing Sen. Mark R. Warner in his re-election bid for the U.S. Senate.
“Senator Warner is a longtime advocate and friend of our member-owned credit... More
Credit union representatives and League staff met with Congressman Bobby Scott (D-3) and Congressman Gerry Connolly (D-11) in separate district meetings this week.
The head of Virginia Credit Union’s member business lending program, Mike Noble, and a member of the Board of Directors, Roscoe Roberts,... More
(FROM CUNA's NEWS NOW)WASHINGTON (8/8/14)--Two more U.S. senators have sent a letter of concern to the National Credit Union Administration regarding its risk-based capital proposal, bringing the total number of Senate lawmakers to weigh in to 26. That's 26% of the chamber's members. And on the House... More
(From the Credit Union National Association)
The House subcommittee on commerce, manufacturing and trade voted 13-6 Thursday to advance a bill designed to combat abusive patent demand letters. The Targeting Rogue and Opaque Letters (TROL) Act of 2014 would crack down on unfair or deceptive practices... More
Credit unions will lose a friend on Capitol Hill with Rep. Eric Cantor's Republican primary loss Tuesday. "Rep. Cantor has been a friend to the Commonwealth's credit unions stretching back to his service in the Virginia General Assembly," said David Miles, senior vice president of the Virginia... More
(From the Credit Union National Association)
WASHINGTON (6/10/14)--The House Financial Services Committee will mark up six bills relating to the structure and reach of the Consumer Financial Protection Bureau June 10 starting at 10 a.m. (ET). These bills have been supported by the Credit Union National... More
(From the Credit Union National Association)
WASHINGTON (6/10/14)--The U.S. House passed the Mortgage Choice Act (H.R. 3211) by a voice vote Monday evening under suspension of the rules. Both houses of the U.S. Congress are in session this week, and they will remain in session through the end of the month. ... More
Congressmen Randy Forbes (R-4), Bob Goodlatte (R-6), and Morgan Griffith (R-9) signed on to the letter that expresses concerns to the National Credit Union Administration about its risk-based capital letter.
They join Reps. Gerry Connolly (D-11), Robert Hurt (R-5), Bobby Scott (D-3), Jim Moran (D-8),... More
Ten members of Virginia's Congressional delegation addressed a room full of 140 credit union advocates at Wednesday's Congressional Luncheon in Washington.
Senators Warner and Kaine and House Majority Leader Eric Cantor praised credit unions and highlighted their perspective on issues ranging from... More
"Financial institutions of every size have been targeted by non-practicing entities (NPEs), often referred to as patent trolls, who in most cases assert low-quality business method patents through vaguely worded demand letters," the letter said.
The letter thanked Rep. Bob Goodlatte (R-Va.)... More
A prominent credit union executive from Virginia called on Congress Tuesday to undertake major changes to ease the authority of the fledgling Consumer Financial Protection Bureau over credit unions and banks.
"I cannot emphasize enough how burdensome and costly the unnecessary and duplicative compliance... More
Federal legislation that would allow credit unions and other financial institutions nationwide to offer prize-linked savings accounts (PLS) was introduced in the U.S. House and Senate this week.
Credit union advocates from Chartway Federal Credit Union and ABNB Federal Credit Union held a frank discussion with Rep. Scott Rigell on Monday in his district office on the credit union tax exemption and other topics.
ABNB CEO Carl Ratcliff joined with Chartway representatives -- Kim Little (Regional... More
WASHINGTON (7/11/13, UPDATE 12:34 P.M. ET)--The chairman of the House Financial Services Committee, Rep. Jeb Hensarling (R-Texas), and others of the committee's leadership unveiled a bill today they say is intended to "create a sustainable housing finance system."
The Protecting American Taxpayers... More
Credit unions and their members already are heeding the call from the Credit Union National Association and the state credit union leagues to deliver this message to federal lawmakers: Don't Tax My Credit Union. And CUNA continues to add resources to its Tax Status Toolkit to support advocacy efforts... More
The credit union tax status is one of many issues discussed in the just-released report on tax policy reform created by 11 House Ways and Mean working groups and delivered to the Joint Committee on Taxation.
The 550-plus page report does not contain any policy recommendations, but lists the pluses and... More
Credit Union National Association President/CEO Bill Cheney Friday commended Rep. Blaine Luetkemeyer (R-Mo.) for introducing legislation that would address several regulatory burdens facing credit unions and community banks.
"This legislation is a good first step toward providing regulatory relief,... More
The Credit Union National Association is vigorously defending the credit union tax exemption as the U.S. Congress continues to consider broad tax code changes.
However, "the days of playing defense are coming to an end--and the time for actively advocating for a continued tax exemption is here,"... More
(From CUNA's News Now) Credit unions work hard to improve financial literacy in their communities, and Sen. Kay Hagan's (D-N.C.) new financial education bill will surely aid those efforts, the Credit Union National Association said Thursday.
During a financial literacy hearing Wednesday held... More
The overwhelming regulatory burden, and the difficulty of raising capital, have made it more difficult for her credit union to reach out effectively to the Hispanic community in her area, the Credit Union National Association's witness told a hearing today on providing credit unions with regulatory... More
A Senate version of legislation that would make significant improvements in privacy notices for consumers could be introduced in the near future, perhaps as early as this week, Credit Union National Association Senior Vice President for Legislative Affairs Ryan Donovan noted on Monday.
The bill is expected... More
The "Overdraft Protection Act," cosponsored by 46 lawmakers including the House Financial Services Committee's two top Democrats, Reps.... More
The Credit Union National Association expects to testify at an April 10 House Financial Services financial institutions and consumer credit subcommittee hearing on the regulatory burdens facing credit unions.
The credit union hearing, which is part of a 2013 series to study, in part, the impact of the... More
League President Rick Pillow introduced Majority Leader Rep. Eric Cantor at CUNA’s Governmental Affairs Conference on Wednesday.
The U.S. Congress could learn much from credit unions, House Majority Leader Eric Cantor (R-Va.) suggested in a Wednesday speech at the Credit Union National Association’s... More
Sen. Warner, House Majority Leader Cantor & Other Delegation Members Address CU Advocates at Congressional Luncheon
More than 120 credit union advocates from around the Commonwealth converged in Washington Wednesday for the League’s annual Congressional Luncheon.
Most of Virginia’s delegation members attended the event, although two attendees … Reps. Bobby Scott (D-3) and Jim Moran (D-8) …... More
WASHINGTON – Congressman Gerry Connolly joined members of the Virginia Credit Union League at their annual Capitol Hill luncheon for Virginia’s congressional delegation. In his comments, Connolly praised the credit unions for their growth in membership and lending and cited their positive impact... More
Your League’s Karin Sherbin wrapped up two days of visiting with legislative aides in every single office of our Virginia delegation.
Thanks to Gary Tucker of Eastman Credit Union and David Woodruff, formerly of Commonwealth One and still a Wittman constituent, for attending the meetings with... More
In a bill the Credit Union National Association (CUNA) says will enhance the safety and soundness of the credit union system, Reps. Peter King (R-N.Y.) and Brad Sherman (D-Calif.) have proposed to permit the National Credit Union Administration (NCUA) to allow credit unions to accept additional forms... More
The Credit Union National Association’s Governmental Affairs Committee starts full-blown today, and your League and credit union advocates are taking advantage of a day in Washington to visit legislative aides to brief them on our issues before Wednesday’s Congressional Luncheon (and before the bankers... More
Going to the Congressional Luncheon, or just want to stay on top of everything? You can get a summary of our federal issues at the League’s governmental affairs web page. Click here: http://www.vacul.org/advocacy/gov_affairs/index.php and then click on the link for federal issues under Congressional... More
It’s true that we can’t outgive the bankers when it comes to supporting political campaigns; they’re quite good at putting their deep pockets to work!
But one of the many ways we do shine in helping our political friends is by volunteering our time and talents for their campaigns. Belvoir Federal... More
Credit union advocates beat the bankers to the punch by talking to legislative aides Monday before bankers do their own Hike the Hill today where they will spend just as much energy lobbying against credit unions as they will tending to their own garden.
There’s a glimmer of optimism around S. 509,... More
League representative Karin Sherbin continued the mini-hike on the House side, joined by Board member Stan Leicester of BayPort at the meeting with the banking aide of his own Congressman, Rob Wittman. BayPort does MBL, and Leicester talked of demand and how some of their members were unable to get capital... More
House Majority Leader Eric Cantor (pictured left) greets longtime campaign volunteer Bill Dawson, of Henrico Federal Credit Union. Though Congressman Cantor continues to say he is a fan of credit unions, he declined to add a key credit union member business lending measures to his recent JOBS Act.
Credit union representatives will meet with Sen. Warner and Rep. Hurt July 25 to urge their support of legislation that would raise the cap on member business lending.
Both lawmakers are key to our efforts: Warner sits on the Senate Banking Committee and Hurt is a member of the House Financial Services... More
Sadly, the cap on credit union member business lending is having a negative impact on credit unions’ ability to aid small business.
This was reported in Credit Union Times and CUNA’s NewsNow this week…
Of the more than 1,000 small businesses that applied for funding... More
The Virginia Credit Union League, which represents 184 not-for-profit credit unions and the 3 million Virginians they serve, today announced its endorsement of former Virginia Gov. Tim Kaine in his bid for the U.S. Senate.
“Decisions made in Washington have a direct impact on credit unions’ ability... More
Martinsville Bulletin: Rep. Griffith Says Small Businesses Burdened by Regulations; Credit Union Rep Attends Special Meeting
In a closed-door meeting that involved a representative from Martinsville DuPont Credit Union, Congressman Griffith (R-9) heard small businesses decry regulations.
MDCU attended the private meeting as a guest of Del. Don Merricks, who offered the invite after the Piedmont Chapter’s meeting last week... More
Dan Adams, a fixture in the credit union movement who capped his career with a long run as CEO of Bellwood before recently retiring, reminded the Richmond Chapter last night that credit unions are political creatures.
While member business lending legislation is a priority for credit unions now, Adams... More
Director of Governmental Affairs
800.768.3344, ext. 626
Here is the official report of who was at the Northern Virginia legislators’ reception Oct. 10:
Legislators and Officials Attending:
- Representative Gerry Connolly
- Mary Ann Cannon from Representative... More
Vice President of Public Relations and Communications
800.768.3344, ext. 629
More than sixty credit union supporters attended the Tidewater Chapter’s Legislative night on Oct. 11. State Sen. Ken Alexander and Del. Lionel Spruill Sr. were in attendance and thanked... More
WASHINGTON (UPDATED: 4:00 P.M. ET, 12/6/12)–In a new call to action, the Credit Union National Association (CUNA) is encouraging its member credit unions and leagues across the country to contact and urge their senators to oppose legislation that would extend for banks the Transaction Account Guarantee... More
WASHINGTON (UPDATED: 2/14/13, 12:15 p.m. ET)--Rep. Ed Royce (R-Calif.) today reintroduced legislation (H.R. 688) that would increase the credit union member business lending (MBL) cap to 27.5% of assets, from the current 12.25%-of-assets level, and the Credit Union National Association in a letter thanked... More
Last week, Martinsville DuPont Credit Union had a surprise with its meeting with Angie Hall, field representative of Rep. Morgan Griffith (R-9). Besides the Congressman’s aide, the Congressman himself showed up!
MDCU’s Andrew Reynolds and Kevin Laine report that the unexpected visit with the... More