Advocacy News
Join the conversation about the latest news and issues related to the laws, regulations, politics and issues impacting Virginia's credit unions.
- NCUA Reinstates Civil Money Penalties for Late Call Report Filing
November 28, 2023The National Credit Union Administration today announced that it will reinstate assessing civil money penalties for credit unions failing to submit NCUA Form 5300 Call Report on time, effective January 1, 2024.
- League Submits Comment Letter on NCUA Budget Proposal
November 21, 2023Your League today filed its written comments on the National Credit Union Administration’s 2024-2025 budget proposal. Our written comments expand on the testimony of League President/CEO Carrie Hunt last week at the agency’s in-person public hearing.
- Hampton Roads Legislative Reception Set for Dec. 14
November 17, 2023Your 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.
- CU Day at the General Assembly: Our Premier State-Level Advocacy Event Returns Jan. 18
November 17, 2023Credit Union Day at the Virginia General Assembly returns Jan. 18 and we need you in Richmond!
- VACUPAC Contributions Must Be Received By Dec. 21 to Count in 2023
November 17, 2023VACUPAC contributions received after Dec. 21, will not be included in 2023 totals.
- Regulatory Compliance Weekly Roundup: November 17, 2023
November 17, 2023Let's dig into an incredibly busy week on the regulatory front, with League President/CEO Carrie Hunt testifying on the NCUA Budget proposal, the federal banking regulators appearing before the Senate and House banking committees and CFPB revisiting medical debt and the Fair Debt Collections Act.
- Biden Signs Stopgap Spending Measure, Averting Federal Government Shutdown
November 17, 2023President Joe Biden signed the stopgap spending bill into law on Thursday, averting a shutdown of the federal government. Your League was pleased to see the passage and enactment of the stopgap spending measure that will fund the federal government..
- Senate Passes Short-Term Spending Measure, Averting Federal Government Shutdown
November 16, 2023Your League was pleased to see the passage late Wednesday in the U.S. Senate of a stopgap spending measure that will fund the federal government until at least mid-January. We urged lawmakers to avoid a federal government shutdown, knowing the hardships it would create for credit union members, and by extension, credit unions.
- NCUA Board Meeting: CAMELS Code 3 on the Rise
November 16, 2023During today's NCUA Board meeting, the Board received a quarterly update on the Share Insurance Fund. Part of this update includes data on the CAMELS codes of credit unions. While the CAMELS codes of individual credit unions are confidential, this aggregate data shows some trends and insights. Today's 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.
- League Holds Virtual Meetings with NCUA Vice Chair Hauptman; Treasury Official
November 14, 2023The League last week held virtual meetings with NCUA Vice Chairman Kyle Hauptman and Assistant Secretary of the Treasury for Financial Institutions Graham Steele. During the meetings, the League and member credit unions had the opportunity to discuss marketplace, economic and regulatory issues that impact credit unions and our members.