Former Gov. Tim Kaine promised that credit unions wouldn’t be forgotten when he’s weighing legislation related to financial services in the U.S. Senate. Thirty attendees from credit unions as far away as Martinsville and Fairfax, as well as CUNA and League staff, and a lobbyist from Hunton & Williams, attended a League-sponsored reception for former Gov. Tim Kaine Sept. 5 in Richmond. Kaine is in a too-close-to-call race for the Senate seat of the retiring Jim Webb.
The League announced its endorsement of Kaine on Aug. 10. Those in attendance heard about Kaine’s ties to Virginia’s credit unions going back to his days as governor, when he placed League President Rick Pillow on his Mortgage Foreclosure Task Force and worked with Virginia Credit Union to offer state employees small, low-cost loans, along with financial education, in an effort to keep them out of the clutches of payday lenders.
Pillow said Kaine had struck a fair balance between protecting consumers and providing a fair and flexible regulatory environment for financial institutions with his foreclosure task force and the legislation that came out of it.