CURRENT Newsletter | August 22, 2022
Share Your News!
We appreciate our loyal readers! Please send your comments and feedback to firstname.lastname@example.org.
In Comment Letter to NCUA, League Notes Regulatory Relief Needed Well Beyond Simply Rules on the Books
Your League this week filed a comment letter with the National Credit Union Administration as part of the agency's annual review of one-third of its regulations. This year’s review covers parts 700 to 710.
"The sum total of 'regulation' usually includes a much greater universe than just the rules set out in the Code of Federal Regulations. Accordingly, we would ask that the NCUA expand its scope of its review of its rules to include a broader look at how it regulates its credit unions," says the letter. "To assist with this review, we recommend NCUA stand up a committee of credit union representatives to give practical feedback throughout the year."
CUs Host Roanoke Valley, Lynchburg Lawmakers at Aug. 17 Reception
Sixty credit union supporters from across the Roanoke Valley and Lynchburg joined us in Roanoke Aug. 17 for a legislative reception that drew eight lawmakers.
League Hosting Aug. 23 Legislative Reception in Newport News; Register Now
Your League has one legislator reception remaining this month - Hampton Roads on Aug. 23. Please join us and help educate area lawmakers about the Credit Union Difference and the issues that matter most to credit unions and our members!
League Staff Attend Event for State Sen. Mamie Locke; Speak with Rep. Bobby Scott
Virginia Credit Union League staffers J.T. Blau and CeJae Vtipilson had a great time with state Sen. Mamie Locke (D-2nd) at her Southern Luau in Newport News last weekend. We were also fortunate to speak with U.S. Rep. Bobby Scott (D-03), who was in attendance.
League’s Growth Conference Sept. 14-16 in Virginia Beach
Your League’s Growth Conference is guaranteed to provide actionable ideas for spurring growth at your credit union! 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.
Among the many highlights: Keynoter Sheri Fitts will help you successfully shift toward more authentic and personalized member engagement. The goal? To foster deeper emotional connections that drive long-term, mutually rewarding commitments and relationships.
SPECIAL NOTE: We’ve secured an extension on our deeply discounted room rate at our host hotel – Hilton Garden Inn Virginia Beach Oceanfront. Book by Aug. 25 to take advantage of the discount.
League Announces Winners of State-Level Social Responsibility Awards
The Virginia Credit Union League is pleased to announce the 2022 recipients of the Dora Maxwell Social Responsibility Community Service Award, the Louise Herring Philosophy-in-Action Member Service Award and the Desjardins Awards for Financial Education. The awards are given annually at the state and national levels, with credit unions competing in categories based on their total assets.
League Seeks Nominations for Credit Union House Wall of Fame; Credit Union House Brick Sponsorships
Credit unions: Here’s a golden opportunity to honor individuals who have made a difference at your credit union or to the industry! On Nov. 9, your League will host its Annual Awards Event, at which we’ll honor our latest Wall of Fame inductees and Credit Union House Brick sponsors.
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.
Additional Articles of Interest
- UVA Community Credit Union Members Approve Slate of Candidates to the Board of Directors
- BayPort CU Joins With Local Corporations to Launch $500,000 Accelerating Change Together Grant
- Risk Alert: Mail Theft Uptick Leads to Check Fraud
- Risk Alert: Phishing Scam Spoofs Zix Secure Emails
- Credit Union Loans Increased 2.4% in June
- Deadline Aug. 23 For CDFIs to Apply for Grants Under New Program
- How CUs are Addressing Diversity at the Board Level
- Where Credit Unions Beat Banks in 'Customer' Experience
- CU Trades to NCUA: Update Field of Membership Rules
- CUNA Files Comments with Treasury on Digital Assets
- Legislation Seeks to Clarify Digital Asset Reporting Requirements
- NAFCU Offers 14 Recommendations for NCUA When it Comes to Improving Regs
- Credit Unions: NCUA Should Streamline Merger Process, Defer to States
- Fed Gov Says FedNow Instant Payment Network Should be Ready Mid-2023
- NAFCU Compliance Blog: Data Security - It’s Also a UDAAP Issue
- CFPB Turns Its Attention to Data Security – Seven Industry Practices You Need to Know Now
- NAFCU Compliance Blog: CFPB Issues Interpretative Rule on Digital Marketing Providers
- NAFCU Compliance Blog: Algorithmic Action - UDAAPs and a Fine for Hello Digit
- FDIC Threatens to Punish Banks that Impose Repeat NSF Fees
- The Rapid Demise of NSF Fees for Nation's Largest Banks
- Banks Change Overdraft Policies Amid Competition, Regulatory Pressure
- US Bank Margins Jump in Q2 at Quickest Pace in a Decade
- CFPB Taking Hard Look at Credit Card Interest Rates
- CFPB Seeks to Modernize How It Collects Credit Card Data
- Toomey Questions FDIC Over 'Choke Point'-esque Crackdown of Banks and Crypto
- Crypto: A New Way To Drive Lending?
- IRS Expands Crypto Question on Draft Version of 1040
- US House Lawmakers Seek Info on Energy Impacts of Cryptocurrency Mining
- 72% of Economists Expect US Recession by Mid-2023
- Home Sales Data Shows the Housing Market is Normalizing
- Homebuilders Say U.S. is in ‘Housing Recession’ as Sentiment Turns Negative
- Loan Growth Shows Dramatic Rise
- The Big Question in Auto Loans: Why Aren’t Repossessions Increasing?
- Webinar Aug. 30: FedNow & the Implications of New Amendments to Regulation J
- Democrats Call for Stronger CRA, But Don’t Push Expanding It to CUs