Advocate Blog
Join the conversation about the latest laws, regulations and political issues having an impact on Virginia's credit unions.
- NCUA Board Announces 2024 Meeting Schedule
October 12, 2023The National Credit Union Administration Board today released its monthly meeting schedule for 2024. Open Board meetings are scheduled to begin at 10 a.m.
- CFPB Issues Advisory Opinion on Consumer Information Requests to Large Banks, Credit Unions
October 11, 2023Today the CPFB issued an advisory opinion regarding Section 1034(c) of the Consumer Financial Protection Act (CFPA), which requires large banks and credit unions to comply with consumer requests for information about their account. These requests can include balance inquiries, information about recent transactions, loan balances, interest rates, recent bill payments, fee schedules, lien statuses and more.
- Virginia-Based Credit Unions Reach 45,000 Individuals With Personal Finance Lessons
October 10, 2023Virginia-based credit unions reported reaching 28,144 students and 17,568 adults with lessons on personal finance during the year ended June 30, 2023. To reach those numbers, Virginia’s credit unions collectively conducted 570 presentations to students and 428 presentations to adults.
- 1,000 Emails to Lawmakers in the Past Month in Opposition to Interchange Bill
October 10, 2023We’re closing in on 1,000 emails sent to Virginia’s congressional delegation in opposition to the Credit Card Competition Act (interchange legislation). We launched our most recent campaign a month ago, and you’ve responded by mobilizing your staff, officials and members!
- As House Readies for Election of New Speaker, CUs Urged to Maintain Efforts to Fight Interchange Bill
October 9, 2023As the U.S. House of Representatives readies to select a new Speaker, your League is urging credit unions to maintain communications with lawmakers on the Credit Card Competition Act (interchange legislation).
- League Congratulates Apple FCU's Andy Grimm on Appointment to CFPB's Credit Union Advisory Council
October 5, 2023Apple Federal Credit Union President/CEO Andy Grimm was today appointed to the Consumer Financial Protection Bureau's (CFPB) Credit Union Advisory Council. "We're pleased to hear that Andy has joined CFPB's Credit Union Advisory Council and congratulate him on the appointment," said Virginia Credit Union League President/CEO Carrie Hunt. "Regulation that falls within the purview of the Bureau has a tremendous impact on operations and regulatory compliance at credit unions. The Council provides our industry a voice and the opportunity to offer our unique perspective on issues that impact our members and our ability to serve them."
- NCUA Regional Director John Kutchey Speaks with CEOs at League Summit
October 3, 2023Last week the League hosted our CEO Summit in Charlottesville, VA. The Summit brings together CEOs from $100 million+ credit unions around Virginia, business partners, regulators and League staff to discuss challenges, best practices, and industry trends.
- UVA Community CU Welcomes NCUA Board Member Rodney Hood
October 3, 2023League Director of Membership and Business Development Katie Bailey joined UVA Community Credit Union yesterday in Charlottesville to welcome NCUA Board Member Rodney Hood. Janine Williams (Vice President of Credit Union Affairs at UVA Community CU) and Belinda Tucker (COO of UVA Community CU) provided Board Member Hood with an overview of the credit union's services. Hood is on a 50-state tour visiting credit unions and state leagues as he approaches the end of his term as an NCUA board member.
- CFPB in the Supreme Court: Oral Arguments
October 3, 2023In a case of keen interest to the credit union industry, the Supreme Court today heard oral arguments in the case of Consumer Financial Protection Bureau v. Community Financial Services Association. The case came to the Supreme Court after a 5th Circuit Court ruled that the CFPB's funding structure was unconstitutional.
- League Monitoring Long-Awaited Supreme Court Case That May Decide CFPB's Future
October 2, 2023Your League will monitor the long-awaited case before the U.S. Supreme Court that may well decide the future of the Consumer Financial Protection Bureau.