League Regulatory Actions
Your League ensures the voice of Virginia's credit unions is heard on regulatory matters through comment letters, statements, and participation in the regulatory comment and review process.
- League Files Comment Letter on Proposed Changes to NCUA's Operating Fee Methodology
September 5, 2023Your League today filed a comment letter with NCUA on the agency’s Operating Fee Schedule Methodology. The NCUA Board is requesting comment on proposed changes to the methodology it uses to determine how it apportions operating fees charged to federal credit unions (FCUs).
- League Files Comment Letter on Credit Card Late Fees; Notes 'Negative Consequences' of CFPB Proposal
May 3, 2023Your League today filed a comment letter with the Consumer Financial Protection Bureau on a proposal that slashes what is effectively a regulatory cap on most credit card late fees.
- League Files Comment Letter on NCUA Proposal Governing Member Expulsion Process
December 5, 2022Your League has filed a comment letter with the National Credit Union Administration in response to the agency's proposed rule to amend federal credit union bylaws regarding member expulsion. We note several possible improvements to the proposal.
- In Comment Letter to NCUA, League Notes Regulatory Relief Needed Well Beyond Simply Rules on the Books
August 16, 2022Your League today filed a comment letter with the National Credit Union Administration as part of the agency's annual review of one-third of its regulations. This year’s review covers parts 700 to 710.
- League's Comment Letter to CFPB on Fees: CUs' Fees Represent Cost of Doing Business, Some Fees Already Regulated
April 11, 2022We filed a comment letter today noting our concerns that the CFPB is attempting to move the financial service market towards a regime where all fees are included in the cost of credit. We believe this major market shift requires significant study, given that it would have a negative impact on credit unions and their members.
- League Notes Member Demand, Benefits of CUs' Overdraft Protection Programs
April 8, 2022Your League has filed a letter for the record with the House Financial Services Subcommittee on Consumer Protection and Financial Institutions, following a hearing last week on overdraft protection programs.
- League Submits HMDA Comment Letter Opposing Any Changes That Represent Added Compliance Burden for CUs
January 21, 2022Your League today submitted a comment letter in response to the Consumer Financial Protection Bureau's (CFPB) request for information on the Home Mortgage Disclosure Act. In our letter, we note our strong support for fair lending, but our opposition to any changes that would exacerbate an already burdensome and complex reporting system.
- League Comments on CFPB's Small Biz Data Collection Proposal
January 7, 2022Your League this week submitted comments on the Consumer Financial Protection Bureau's proposed data collection under Section 1071 of Dodd-Frank, arguing the proposal represents an incredibly burdensome new regulation for community lenders, like credit unions.
- League President/CEO Carrie Hunt Asks NCUA to Reconsider Budget Increases, Consider New Strategies in Supporting CUs
December 9, 2021League President/CEO Carrie Hunt testified yesterday during the NCUA Board's public hearing on its proposed budget for 2022-2023. "Credit unions exist to provide provident credit and everything the agency does has a direct impact on that mission. Every dollar NCUA requires of credit unions is money credit unions cannot deploy for the benefit of their members and communities."
- League Comments on Bank Regulators' Interagency Guidance on Third-Party Relationships
October 18, 2021Your League has submitted comments to the FDIC, OCC and the Fed on the "Proposed Interagency Guidance on Third-Party Relationships: Risk Management." Noting that credit unions and banks use many of the same vendors, the League wrote credit unions have a deep interest in the proposal and how future action by the NCUA might be shaped by information gleaned from the work of the banking regulators.