Advocate Blog
Join the conversation about the latest laws, regulations and political issues having an impact on Virginia's credit unions.
- NCUA Sets Feb. 8 Webinar on 2024 Supervisory Priorities
January 29, 2024The NCUA released details on an upcoming webinar to discuss the agency’s 2024 supervisory priorities. The webinar will be held Feb. 8 at 2 p.m.
- REGular Blog: NCUA's 2024 Supervisory Priorities - Part 2
January 26, 2024Earlier this week we posted about the NCUA's newly-released 2024 Supervisory Priorities, with a focus on what changed from 2023 to 2024. Today we are focusing on the 2024 priorities and what they might have in store for credit unions.
- Nussle to Congress: Big Box Bailout Would Hurt Small Businesses
January 26, 2024Small business owners share their concerns with the big box bailout bill in a new video message sent to Congress Wednesday from America’s Credit Unions. President/CEO Jim Nussle re-emphasized the ongoing credit union opposition to interchange legislation (S. 1838/H.R. 3881). He urged lawmakers to watch the videos and hear directly from the business owners, financial services experts, and other stakeholders who support the credit card systems in place and the protections they provide.
- League Offers Insights, Analysis on NCUA’s Supervisory Priorities
January 26, 2024Your League’s JT Blau offers insights and analysis of the NCUA’s 2024 Supervisory Priorities in two blog posts this week. The first looks at the 2024 Supervisory Priorities vs. 2023; the second offers a deeper dive into what made the list in 2024, and what credit unions can expect as they prepare for their exams.
- League Comments on CFPB's Move to Ban NSF Fees on Real-Time Payments
January 25, 2024The Consumer Finance Protection Bureau yesterdayday proposed what it characterized as a “proactive step” to prevent financial institutions from charging fees for transactions that are instantaneously declined. "CFPB continues to target legitimate fees that enable not-for-profit credit unions to cover the costs of doing business as they serve their members under the guise of consumer protection. We will vigorously oppose measures like this NSF fee ban, as well as the Bureau’s recent proposal on overdraft programs because both threaten our ability to operate in a free market system," said League President/CEO Carrie Hunt.
- REGular Blog CFPB Rulemakings - Overdraft and NSF Fees
January 25, 2024Yesterday, the Consumer Financial Protection Bureau (CFPB) issued a proposed rule designed to eliminate NSF Fees. This rule comes on the heels of last week's proposed rule targeting overdraft fees charged by very large financial institutions. Let's take a look at the rules and their possible impact on credit unions here in Virginia.
- Congresswoman McClellan Visits VACU Branch; Learns About CU’s Community Impact, Financial Education Initiatives
January 25, 2024Rep. Jennifer McClellan (D-4th) today visited Virginia Credit Union’s Church Hill branch, one of five branches recently opened by the credit union in the City of Richmond.
- REGular Blog: NCUA Releases 2024 Supervisory Priorities
January 23, 2024The NCUA has released its Supervisory Priorities list for 2024. Every year, this list provides some insight into what areas the agency is paying close attention to in their examinations, rulemakings, and other actions. Seeing what items move up to the top, down to the bottom, or come off the list entirely gives us some idea of the NCUA's priorities for the coming year.
- It's Do or Die for Our CU Legislation; Email Your Lawmakers Today!
January 23, 2024Credit unions: We desperately need your help as we work to push our public deposits bill over the finish line! Please ask your staff, co-workers and officials to email lawmakers today in support of HB 1205. To date, we’ve generated 216 messages to lawmakers. We need significantly more support if lawmakers are going to consider this a top-of-mind concern for constituents.
- Fed Extends Interchange Proposal Comment Deadline to May 12
January 23, 2024The Federal Reserve extended the comment deadline on its interchange proposal to May 12, an additional 90 days past the original Feb. 12 deadline. “We have carefully examined the Federal Reserve Board’s proposal and will submit comments. We know the fraud costs our credit unions are facing continue to mount and we must have fairness in the system,” said League President/CEO Carrie Hunt.