League News Releases
- League Notes CFPB's 'Large Institution' Overdraft Proposal Endangers Such Programs at All Credit Unions
January 17, 2024Today, the CFPB issued the Overdraft Notice of Proposed Rulemaking (Overdraft NPRM), which proposes to update regulations that apply to overdraft credit offered by certain financial institutions with more than $10 billion in assets (referred to as “very large financial institutions”) by amending Regulation E and Regulation Z. "Your League is working its way through the 200-plus page proposed rule, but our initial take is this: While the rule targets institutions with more than $10 billion in assets, the realities of the marketplace mean that overdraft programs at all credit unions are endangered," said League President/CEO Carrie Hunt.
- Still Time to RSVP: Credit Union Day at the General Assembly Jan. 18
January 16, 2024Credit Union Day at the Virginia General Assembly is this Thursday (Jan. 18), and we need you in Richmond! We're looking for at least 200 credit union champions to join us as we educate state lawmakers about the "Credit Union Difference" and fight for HB 1205, credit union-backed legislation.
- League Urging Lawmakers to Address Looming Partial Shutdown of Federal Government
January 16, 2024Your League remains engaged with federal lawmakers as Congress finds itself facing a partial government shutdown on Friday, absent new action to fund the government. "While credit unions will step up to aid members in the event of a partial government shutdown, we continue to actively engage with lawmakers in hopes such a scenario can be avoided," said League President/CEO Carrie Hunt. "We've made it clear in all our communication to lawmakers and during recent meetings with our delegation that a shutdown would also pose a significant challenge for our credit unions."
- New NCUA Board Member Otsuka Will Have First Official Board Meeting Thursday
January 16, 2024The NCUA Board will meet on Jan. 18 to consider two items: a Board briefing on NCUA’s 2024-2026 Diversity, Equity, Inclusion, and Accessibility strategic plan and a discussion of NCUA’s 2024 Annual Performance Plan. This will be the first official meeting for new Board member Tanya Otsuka, who was sworn in earlier this month.
- CALL TO ACTION: Write State Lawmakers Today in Support of Credit Union Legislation
January 11, 2024Take action today in support of our newly introduced legislation in the Virginia General Assembly. We're lobbying for a measure to provide credit unions with the authority to hold public deposits (HB 1205). This authority would allow public entities – city and county governments and their various subdivisions, for example – to deposit public funds at local credit unions, providing greater choice, boosting competition, and benefitting taxpayers by providing better rates on deposits. Please encourage staff, officials and members to contact their lawmakers, as well!
- IGNITE | League Annual Meeting Schedule Announced; Register for Event; Reserve Your Hotel Stay
January 11, 2024We’re proud to announce our schedule for IGNITE | League Annual Meeting! Registration is now open for our premier networking and education event, which is being held May 1-3 on the waterfront in Washington, D.C. at InterContinental (The Wharf).
- League at Work as General Assembly Convenes; Credit Union Legislation Introduced
January 10, 2024The League was on site today at the General Assembly Building and Capitol as the Virginia legislature convened for its 2024 session. The League advocacy team is combing through the roughly 1,900 bills already introduced, with more to follow in the coming days. HB 1205, our legislation that would authorize state- and federally-chartered credit unions to hold public deposits, will likely be referred to the House Commerce and Labor Committee for consideration.
- With Federal Government Shutdown Again Looming, League Monitors Situation in Washington
January 10, 2024As we move closer to a federal government shutdown, your League is carefully monitoring the situation and engaging with lawmakers. We continue to make the point that a shutdown will harm credit union members, the regional economy, and credit unions themselves.
- With Federal Government Shutdown a Possibility, League Engaged with Lawmakers
January 9, 2024Your League is carefully monitoring the situation in Washington and engaging with lawmakers as Congress nears the first of two deadlines to agree on appropriations bills for 2024. We continue to make the point that a shutdown will harm credit union members, the regional economy, and credit unions themselves.
- With Months of Prep Behind Us, CUs Ready for Busy General Assembly Session
January 9, 2024With a year’s worth of preparation and planning behind us, credit unions are eager to see tomorrow’s start of the 2024 session of the Virginia General Assembly. This promises to be a busy 60-day session that will include consideration of a measure to provide credit unions with the authority to hold public deposits. This authority would allow public entities – city and county governments and their various subdivisions, for example – to deposit public funds at local credit unions, providing greater choice, boosting competition, and benefitting taxpayers by providing better rates on deposits.