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Latest News Posts
- League’s Advocacy Work Hits High Gear as We Ready for New Congress, General Assembly
November 29, 2022Your League is gearing up for a busy few weeks on the political front at both the state and federal levels.
- CU Loans Outstanding Again Up Robustly During September, New CUNA Data Show
November 28, 2022Credit union loans outstanding increased 2.1% in September, according to CUNA's latest Monthly Credit Union Estimates. That number is similar to the 2.0% increase in August of 2022 and above the 0.6% increase in September of 2021, CUNA said.
- CUNA Mutual Group Risk Alert: CFPB Ramps Up Attack on Junk Fees
November 22, 2022The CFPB recently issued a news release Illegal Junk Fees on Deposit Accounts –- Guidance to Help Banks Avoid Charging which addresses “two junk fee practices that are likely unfair and unlawful under existing law,” including overdraft fees on certain debit card transactions and fees charged on returned deposited items. The CFPB indicates that charging these fees likely violates the Consumer Financial Protection (CFP) Act, which prohibits conduct that constitutes an unfair act or practice.
- Opportunities and Challenges in Federal Community Investment Programs
November 22, 2022A Request for Information (RFI) has been published by the Interagency Community Investment Committee (ICIC). The ICIC is comprised of the Department of the Treasury, Small Business Administration (SBA), Department of Commerce, Department of Transportation, Department of Housing and Urban Development (HUD), and Department of Agriculture (USDA). The comment deadline for this RFI will be extended until Dec. 19, 2022. The Agencies invite the public to comment on how the ICIC can promote economic conditions and systems that reduce racial disparities and produce stronger economic outcomes for all communities.
- During 9th Annual Chartway Norfolk Harbor Race Weekend, Chartway Promise Foundation Hosts Two Wish Reveals for Children with Critical Illnesses
November 22, 2022This weekend, thousands of runners participated in the Chartway Norfolk Harbor Race Weekend where Chartway Credit Union served as the Title Sponsor over the weekend and surprised two local children facing medical hardship – 12-year-old Caelum and 4-year-old Caiden – with the news that their wishes had come true thanks to funds from Chartway’ s charitable arm, the Chartway Promise Foundation.
- League Announces 2023 Events, Education Calendar
November 21, 2022Your League is pleased to share its 2023 event and education calendar!
- BayPort Donates Backpacks, Books to Local Students
November 21, 2022BayPort Credit Union today announced it has donated 500 backpacks to the Boys & Girls Clubs of the Virginia Peninsula (BGCVP), which serves youth across the Virginia Peninsula and surrounding communities including Newport News, Hampton, York, Gloucester, and Mathews County. In addition to the backpack donation, BayPort presented BGCVP a $1,000 Amazon gift card to help purchase new books for their “Power Hour” programming.
- Virginia's Credit Unions, League Honor DeTuncq, Gull with Induction into Wall of Fame
November 18, 2022Virginia's credit unions and the Virginia Credit Union League recognized recently retired UVA Community Credit Union President and CEO Alison DeTuncq and longtime Chartway Credit Union Board member and former chairman E.L. “Lou” Gull, Jr. at a special ceremony on Nov. 10, which marked their official induction into the Credit Union House of Virginia's Wall of Fame.
- League, CUs Ready to Work with Congressional Delegation as Coming Session Brings Republican-Led House, Democrat-Controlled Senate
November 17, 2022Major news outlets are reporting that Republicans have won control of the House of Representatives, meaning credit unions will be working with and lobbying a Democrat-controlled Senate and a Republican-led House.
- CFPB Warns of Possible Direct Dispute Violations
November 17, 2022Credit reports – a wealth of information about a person’s financial habits that can serve as the determining factor in credit decisions or even employment decisions or background checks. Given the outsized impact a credit report can have on a person’s life, it’s important that the information contained in the credit report be accurate, and that credit unions handle disputed information appropriately. Last week the Consumer Financial Protection Bureau provided guidance on this topic by publishing a new consumer financial protection circular on the topic of consumer reporting disputes.