CURRENT Newsletter | August 11, 2022
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League Urges CUs, Members to Contact Lawmakers on Interchange Bill
Your League is calling on credit unions to voice their concerns with the Credit Card Competition Act, which was introduced by Sens. Dick Durbin (D-IL) and Roger Marshall (R-KS). The legislation poses a serious threat to sensitive financial data for millions of consumers by allowing the nation’s largest retailers to bypass established secure payment networks.
League Amps Up Advocacy Initiatives on Interchange
Your League is working to combat a bill in Congress that would alter the current interchange system.
CUs, League Meet with Congressman Cline
Representatives from five credit unions and your League met with Rep. Ben Cline (R-6) in his Staunton office on Tuesday. We discussed a long list of federal legislative priorities, including interchange, overdraft, third-party examination authority for the NCUA, and board modernization issues.
SCC Issues Ruling in Closely Watched State-Level FOM Case Involving Virginia Credit Union, League
In a disappointing decision with potential national implications for field-of-membership expansions, the Virginia State Corporation Commission last week denied authorization for Virginia Credit Union to add a group of state medical professionals to its field-of-membership.
NOTE: League President/CEO Carrie Hunt offered our perspective on the case in an article appearing on American Banker. (Subscription may be required.)
League Hosting Legislative Receptions in Roanoke, Newport News; Register Now
Your League has two legislator receptions remaining this month - Roanoke (Aug. 17) and Hampton Roads (Aug. 23). We also plan to host a Northern Virginia event in early September; details coming soon. We also had to postpone our scheduled reception in Waynesboro, but we’ll keep you posted on a possible make-up date. Special thanks to the representatives from 11 credit unions who joined us at our Richmond reception Aug. 4!
League Fighting Bill Giving NCUA Examination Authority Over CUSOs, Third-Party Vendors
Your League is strongly opposed to a proposed Senate bill that would grant the National Credit Union Administration examination authority over CUSOs and third-party vendors.
League’s Growth Conference Sept. 14-16 in Virginia Beach
We’re all seeking sustainable growth at our credit unions but staying ahead of the curve and the competition is increasingly difficult. So, we’ve curated our Growth Conference programming specifically for those focused on the growth and viability of their credit union – whether that role encompasses lending, marketing, business development, member service, revenue generation, community outreach, IT or operations.
Virtual IRA Training Set for Oct. 25-26
Join the highly skilled trainers from Ascensus for virtual IRA Training on Oct. 25 & 26. Take advantage of both Essentials & Advanced sessions! Whether you are new to IRAs or an experienced administrator wanting an update, you'll find the training you need.
Register (Our friends at the Mississippi Credit Union Association are hosting registration.)
Amp Up Your Credit Card Offerings with Fiserv’s Credit Choice
Credit Choice from Fiserv enables your credit union to offer credit cards that deliver high-touch, fully connected consumer experiences. Join our Aug. 31 webinar and learn how Credit Choice can help you drive revenue, reduce expenses and improve member loyalty by offering all the benefits of a premier branded credit card without assuming issuer-of-record expenses.
Registration Open for NCUA’s Bank Secrecy Act Webinar for Small Credit Unions
The National Credit Union Administration is hosting a webinar on August 24 to discuss Bank Secrecy Act trends and challenges, while also providing credit unions with valuable updates on BSA compliance. Online registration for this webinar is now open.
CUNA Mutual Group: Live Risk Forum - Workplace Safety & Security
While each credit union has its own unique risk footprint, workplace safety and security risks are most likely on your radar. Join us Aug. 16, as CUNA Mutual Group's expert risk management and insurance panelists -- along with hundreds of your credit union peers -- discuss the evolving threats to your credit union.
TRGroup Hosting Compliance Conference Sept. 14-15
TRGroup Women’s Leadership Conference Set for Oct. 5-7
Other Articles of Interest
- Chartway and its Chartway Promise Foundation Brought Joy, Hope, and Smiles to Children Facing Medical Hardship
- Virginia Credit Union Recognized for Financial Education Programs
- VACU Helps Richmond Public Library with Kiosks of Children’s Books About Money
- Vizo Financial Breaks Records With 9th Annual Hot Dog Eating Contest
- ‘Protect My Card’ Campaign Pushes Back Against Interchange Bill
- Interchange Bill Means Fewer Options, Increased Data Security Threats
- Ginnie Mae Recognizes Credit Unions as Regulated Depositories
- NCUA Updates LID Area Workbook, Results in Decline of LID Population
- Warren to Target Bank Crypto Offerings in US Regulator Query
- Comprehensive Digital Asset Framework Would Aid Adoption
- CFPB Gets Earful on Limiting Credit Card Late Fees
- Consumer Agency Using 'Every Tool' to Step Up Scrutiny of Financial Institutions
- 2nd Annual #ILoveMyCredit Union Blitz Had Potential Reach of 6 Million
- CUNA Amicus Brief: FCRA Applies to Factual Inaccuracies, Not Legal Issues
- CUNA Mutual Group’s ‘What Matters Now™' Research Explores Multicultural, Multigenerational Consumer Insights
- NAFCU Compliance Blog: CFPB Releases Report Highlighting Military Complaints