CURRENT Newsletter | November 17, 2023

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League's Carrie Hunt Testifies on NCUA's Budget Proposal; Urges Agency to Consider Impact of Increased Regulation, Rising Costs on CUs' Ability to Serve Members

League President/CEO Carrie Hunt testified today during the National Credit Union Administration’s public hearing on the agency’s 2024-2025 budget proposal. During her testimony. Hunt noted three key areas of concern: cybersecurity, the agency’s allocation of resources as it relates to serving credit unions of every size, and increased scrutiny on consumer compliance.

Hampton Roads Legislative Reception Set for Dec. 14

Your League and ABNB Federal Credit Union are hosting a Legislative Reception in Norfolk on Dec 14. Join us and legislators from across the region as we prepare for the 2024 General Assembly session. Your attendance is instrumental in advocating for your credit union and the Virginia credit union system. Register now!

CU Day at the General Assembly: Our Premier State-Level Advocacy Event Returns Jan. 18

Credit Union Day at the Virginia General Assembly returns Jan. 18 and we need you in Richmond! Register now!

Regulatory Compliance Weekly Roundup: November 17, 2023

Let's dig into an incredibly busy week on the regulatory front, with League President/CEO Carrie Hunt testifying on the NCUA Budget proposal; the NCUA Board approving a final rule that adds to the qualified charities credit unions could donate to through a charitable donation account; the federal banking regulators appearing before the Senate and House banking committees; and CFPB revisiting medical debt and the Fair Debt Collections Act.

NCUA Board Meeting: CAMELS Code 3 on the Rise

Recent data shows growth in CAMELS code 3 credit unions - not only in the number of credit unions in this category but also in shares and deposits held in these credit unions. Let’s look at the data…

League Member Credit Union Call-in with Carrie Set for Dec. 12

League President/CEO Carrie Hunt hosts our virtual membership meeting on Dec. 12, with updates on the coming General Assembly session, federal advocacy issues, and more! We want to hear from you on the issues and concerns that weigh on your credit union and your thoughts on the League's direction and services.

VACUPAC Contributions Must Be Received By Dec. 21 to Count in 2023 Totals

VACUPAC contributions received after Dec. 21, will not be included in 2023 totals.

In Other News …

• Green Lending Initiative Supported By the League Names Interim CEO
• Chartway Hosts Members and Community Partners at Salt Lake Crossing Branch to Celebrate Juntos Avanzamos Designation
• Biden Signs Stopgap Spending Measure, Averting Federal Government Shutdown
• IGNITE | League Annual Meeting 2024: Registration Opens!
• IGNITE 2024 | League Annual Meeting: Book Your Stay at Our Host Hotel
• League Partnership Will Offer C-Suite Level Leadership Training to Member Credit Unions
• Credit Unions: Apply for Grants to Support Your Financial Education Initiatives
• Crash the GAC 2024! Applications Must Be Submitted by Nov. 20
• CUNA Small CU Committee Collecting Success Stories; Small CUs Can Win Scholarship to GAC
• Registration Open for 2024 Governmental Affairs Conference