Advocate Blog
Join the conversation about the latest laws, regulations and political issues having an impact on Virginia's credit unions.
- Biden Vetoes Resolution to Void CFPB Section 1071 Rule
December 20, 2023An effort to void the Consumer Financial Protection Bureau’s (CFPB) section 1071 rule ended at the White House late Tuesday. As anticipated, President Joe Biden vetoed a resolution of disapproval (S.J. Res. 32) for the CFPB rule. The Senate passed the measure in October, followed by the House on December 1, and CUNA and NAFCU?wrote in support?of the resolution. Section 1071 is currently under a nationwide stay for all covered entities, after CUNA, Cornerstone League, and Rally Credit Union in Corpus Christi, Texas,?successfully challenged?the rule in court.
- Senate Confirms Otsuka to Serve on NCUA Board
December 20, 2023The Senate voted to confirm Tanya Otsuka to serve on the NCUA board Wednesday. Otsuka currently serves as senior counsel for the Senate Banking Committee and was nominated by President Joe Biden in September. "The Virginia Credit Union League looks forward to working with Ms. Otsuka as a member of the NCUA board," said League President/CEO Carrie Hunt. "We are excited to see her bring her talents to the credit union industry."
- CUs, League Meet With Rep. Wittman; Congressman Supports CUs on Biz Lending Measure for Vets, Interchange Bill
December 19, 2023Advocates from Henrico Federal Credit Union, Langley Federal Credit Union, Virginia Credit Union and your League met with Congressman Rob Wittman (R-1st) yesterday and his District Director Joe Schumacher at Henrico FCU’s headquarters. The newly drawn 1st Congressional District now includes parts of Chesterfield, Hanover, and Henrico as well as Williamsburg, the Middle Peninsula, and the Northern Neck.
- Credit Union Groups Call Out CNN’s Misleading Report on Credit Union Mortgage Lending Data
December 18, 2023The Credit Union National Association (CUNA), the National Association of Federally-Insured Credit Unions (NAFCU), and the African American Credit Union Coalition (AACUC) have released a statement on CNN’s misleading report on credit unions’ lending practices to minority and underserved communities.
- Advocacy In Action: League Highlights Week’s State, Federal Advocacy Work
December 15, 2023From meetings with lawmakers and elected officials to engagement with regulators, your League highlights this week's advocacy work.
- NCUA Approves Lower-Than-Proposed 2024-2025 Budget; League Appreciates NCUA Board's Action on Issues Raised During Budget Hearing
December 14, 2023The NCUA Board today approved the agency's 2024-2025 budget. Of note, the approved budget is $8.8 million less than the originally proposed budget, though the proposal still represents a 7 percent increase for 2024 over the 2023 Board-approved budget.
- CUs, League Meet with Lt. Gov. Earle-Sears
December 14, 2023Credit union and League representatives met today with Virginia Lt. Gov. Winsome Earle-Sears at her Richmond office, as credit unions prepare for a busy 2024 General Assembly session.
- Hampton Roads-Area CUs, League Host Legislative Reception in Norfolk
December 14, 2023ABNB Federal Credit Union and the League tonight hosted a Legislative Reception in Norfolk as credit unions gear up for a busy 2024 General Assembly. More than 40 credit union champions were on hand to meet with lawmakers, representing ABNB Federal Credit Union, BayPort Credit Union, Beach Municipal Federal Credit Union, Bronco Federal Credit Union, Chartway Credit Union and Langley Federal Credit Union.
- League Call-In and Dialogue: Archived Webinar Available
December 12, 2023League President/CEO Carrie Hunt hosted our virtual membership meeting Dec. 12, noting a number of new League services in the works for 2024, the upcoming General Assembly, and a busy legislative and regulatory agenda at the federal level.
- Homebase CU, League Meet with Del. Carrie Coyner
December 12, 2023Del. Carrie Coyner (R-62) visited Homebase Credit Union today to discuss legislative priorities for the upcoming session and the challenges credit unions face.