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The Advocate Blog

New Senate Bill Tackles Merchant Data Protections

WASHINGTON (5/1/15)--A coalition of six Democratic senators introduced a data protection bill Thursday that would, in part, require companies that store sensitive personal or financial information on 10,000 customers or more to meet specified consumer privacy and data security standards to keep this... More

CUNA Highlights CU Impact on Capital Formation for Hearing Record

WASHINGTON (4/30/15)--Credit unions stand ready to advance economic improvements for their members, CUNA President/CEO Jim Nussle told members of the U.S. House in a letter sent Wednesday.

The letter was sent for the record of a House Financial Services subcommittee on capital markets and government... More

Shelby Says QM Tweaks on Table for Reg Relief

Senate Banking Committee Chairman Richard Shelby offered a few hints Wednesday about what bankers might see in pending regulatory relief legislation due next month.

Shelby didn't offer many specifics about the package or where the process stands with fellow lawmakers on his committee, but did signal a... More

Aid Our Advocacy Mission: Report Your Micro-Lending Initiatives

Help us collect data on how Virginia’s credit unions are aiding members by reporting your micro-loan data through our Reality Check survey.

We ask that you report information on loans you’ve made of $3,000 or less, excluding credit cards. Please give us a hand and provide this data, which we use to... More

Credit Union Call to Action: Data Breach Legislation, S. 961

Sens. Tom Carper (D-DE) and Roy Blunt (R-MO) have introduced a data breach bill, S. 961, the Data Security Act of 2015, which strengthens merchant standards to be comparable with those of credit unions and other financial institutions. It also mandates a federal notification requirement for merchants... More

League, CUNA File RBC2 Comment Letter, Encourage CUs to Weigh-In by April 27 Deadline

Your League this week submitted its comment letter on the National Credit union Administration's revised risk-based capital plan (RBC2). CUNA submitted its comment letter Friday. While holding firm to the view that the rule is unnecessary and should be tabled, the letters offer a number of constructive... More

Virginia Highlights from the GAC: Warner Notes Support of CU Tax Exemption; Beyer Visits CU House

By Karin Sherbin
ksherbin@vacul.org 

Even though the House is in recess this week, freshman Rep. Don Beyer (D-8) traveled into Washington to stop by the League’s reception Tuesday evening at CUNA’s Credit Union House.

Beyer thanked credit unions for supporting his campaign. He noted that in his... More

Credit Union Bills Signed Into Law

Our hard work paid off handsomely last Thursday when Gov. Terry McAuliffe signed into law our two credit union bills. We appreciate our credit unions' support during the recently completed General Assembly session in getting these two bills passed.

"It's been a good General Assembly session for credit... More

Credit Union Bills Headed to Governor's Desk

H.B. 1487, the Prize Linked Savings Accounts bill,  and H.B. 1629, our ATM bill, passed the state Senate by a vote of 38-to-0 late last week. That vote completes the legislative process for our credit union legislation during this session of the General Assembly. The bills now go to Gov. Terry McAuliffe... More

League President Rick Pillow Reports that Credit Union Bills Win House Approval

SB 737 (prize-linked savings promotions) and SB 875 (excludes ATMs from definition of a service center), our Credit Union Legislation, passed the House Monday on a 99-to-0 vote, and now these bills are ready for the Governor's signature.

In addition, Credit Union legislation HB 1487 (prize-linked... More

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