CURRENT Newsletter | October 20, 2023

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IGNITE | League Annual Meeting 2024: Registration Opens!

IGNITE & the League Annual Meeting - your League's premier education and networking event - will be held May 1-3, 2024 in Washington, D.C.!

Event Registration is available here.

We've opened registration now at the request of credit unions seeking to cover registration costs in their current budget. Join us in Washington's popular Wharf neighborhood, home to dozens of restaurants, shopping opportunities, and fun-filled activities! Stay tuned for details on reservations at our host hotel - the InterContinental Washington D.C. - The Wharf.

League Highlights Busy Week of Advocacy Work

It was another busy week on the advocacy front! We remain watchful following another week of uncertainty in Washington, with the House failing again today to elect a speaker. With a looming deadline to fund the federal government for the next fiscal year, we worry that a time crunch to pass the various appropriations measures will make it more difficult to derail any credit union-opposed measures that proponents seek to attach to those must-pass funding measures.  

• Your League today met with Rep. Don Beyer, continuing our outreach efforts on a host of issues, including a potential shutdown of the federal government and interchange legislation. We’ve been in constant contact for months with lawmakers and their offices, advocating for our issues.
• We joined with the national trades on an amicus brief in a critical federal court case involving a Virginia-based credit union.
• Your League’s Carrie Hunt and JT Blau attended Thursday’s NCUA Board Meeting.
• Carrie Hunt offered insights on the future of state-chartered credit unions in the Commonwealth.
• Your League will engage with policymakers following news earlier this week that the Federal Reserve is preparing a proposal that would lower interchange fees merchants pay when consumers pay with debit cards.
• The Senate this week passed a resolution to repeal the CFPB's small-business data collection rule. The Congressional Review Act resolution is now on its way to the House. We remain concerned about how the rule might impact the cost of small business borrowing and how burdensome data collection required by the rule would affect smaller financial institutions.
• Following the Nomination Hearing for NCUA Board Nominee Tanya Otsuka, the League highlighted our key engagement issues with regard to the agency and its Board.
• It’s been a long road toward a settlement of a data breach lawsuit your League signed on to years ago on behalf of member credit unions. Importantly, the suit is further evidence of why merchant accountability in data breaches matters and why interchange fees are vital to helping credit unions recoup a portion of fraud losses.

Regulatory Compliance Weekly Roundup

News, notes and insights from the world of regulatory compliance, including highlights of Thursday's NCUA Board Meeting, CFPB's Open Banking proposal, and new developments from the IRS on the COVID-era Employee Retention Credit.

Financial Well-Being for All Boot Camp Oct. 25; Registration Open

Our Financial Well-Being Boot Camp offers training on identifying and categorizing a member’s financial health so you can tailor your product and service offerings to better meet their unique needs. We’ll also take a deep dive into the Financial Health Pulse survey to uncover actionable insights on consumer financial health in the U.S. HumanKind will provide an overview of their Economic Resource Center and the services credit unions can leverage to aid members. Registration is still open.

Virginia Chapter of Global Women's Leadership Network Plans Nov. 7 Program; Registration Open

The Global Women’s Leadership Network Virginia Sister Society is thrilled to announce a special leadership opportunity that promises to inspire, educate, and empower your dedicated employees. The Compassionate Leadership Series is available to you and your employees at no cost – that’s right it’s FREE! Please join us in Richmond as the Virginia Sister Society kicks off the Compassionate Leadership Series on Nov. 7.

League Partnership Will Offer C-Suite Level Leadership Training to Member Credit Unions

The Virginia League is excited to announce a new partnership that delivers C-Suite level leadership development training for credit union professionals. We've partnered with the Carolinas Credit Union League to offer their Leadership Development Institute (LDI) to Virginia’s credit unions. The LDI empowers current and rising credit union leaders with modern strategies for developing leadership and critical thinking skills.

In Other News …

• BayPort Credit Union Opens Fifth Virginia Beach Branch
• How BayPort Credit Union is Educating Members About Lending Options
• CommonWealth One Federal Credit Union Welcomes Rob Case as Senior Vice President and Chief Information Officer
• League-Supported Green Lending Initiative Continues to Draw Support
• Leadership, Communication Styles Seminar Set for Nov. 16
• NCUA, FTC to Host Oct. 26 Webinar on Protecting Credit, Identity