Advocate Blog
Join the conversation about the latest laws, regulations and political issues having an impact on Virginia's credit unions.
- Credit Unions, League Host Meeting With Longtime CU Champion Rep. Gerry Connolly
May 2, 2023Credit union advocates joined the League on Monday for a virtual meeting with longtime credit union supporter, Rep. Gerry Connolly (D-11th).
- FDIC Weighs Change to Deposit Insurance Policy; League Monitoring Issue
May 2, 2023The FDIC is considering options to overhaul its deposit insurance coverage. As part of its analysis of the deposit insurance system, the FDIC outlines three options for deposit insurance reform in a report released this week. Your League is monitoring this issue, noting the need for parity between FDIC and NCUSIF coverage, as well as the need for careful consideration on the part of Congress in terms of both risks and financial costs in restructuring deposit insurance.
- Sponsors Needed By May 10 for VACUPAC Golf Challenge, Lunch at Williamsburg Winery
May 2, 2023Sponsorships are critical to the success of the VACUPAC Golf Challenge and our inaugural VACUPAC Wine-Tasting and Networking Lunch! Please consider supporting our advocacy work through your sponsorships!
- League Praises House Committee Passage of CFPB Reforms
April 28, 2023Your League was pleased to see the House Financial Services Committee on Wednesday pass long-supported measures to bring more congressional oversight to the Consumer Financial Protection Bureau.
- SAFE Banking Act Reintroduced in Congress; Measure Remains on League's Legislative 'Watch List'
April 28, 2023A measure to provide protections for financial institutions serving cannabis-based business in states where it is legal has been reintroduced in both the U.S. House and Senate. A longtime priority for the financial services industry, this measure has garnered significant bipartisan support in previous sessions of Congress, but never enough to win passage by both chambers.
- Credit Unions Join League for Virtual Meeting with Congresswoman Spanberger
April 28, 2023Credit union advocates from Apple Federal Credit Union, CommonWealth One Federal Credit Union, Topside Federal Credit Union, and UVA Community Credit Union joined the League in a virtual meeting with U.S. Rep. Abigail Spanberger (D-7th) on April 28.
- IGNITE 2023 Keynote: Virginia, the Nation and the World - 3 Perspectives
April 25, 2023We’re pleased to announce a fourth informative keynote session for IGNITE 2023! Credit unions in Virginia and beyond operate on a worldwide, national and local stage. Our panel of experts will discuss the political and governmental arena on all fronts. Key issues include the super-charged and changing politics in Virginia, the impact of the government on liquidity and the economy and how the world’s credit unions have lessons for those state-side.
- League Writes Congress in Support of Restructuring CFPB From Single-Director to 5-Member Commission
April 25, 2023Your League today wrote key members of the House Financial Services Committee to express our support for transitioning the Consumer Financial Protection Bureau’s leadership structure from the current single-director model to a multi-member commission.
- Fixed or Float - NCUA Board Briefed on Interest Rate Cap
April 20, 2023At Thursday's NCUA Board meeting, the Board received a briefing on the Loan Interest Rate Ceiling for federal credit unions. In today's rising interest rate environment, many credit unions are finding it difficult to properly risk-based price their loan and credit card products while operating within the bounds of the fixed interest rate cap. The idea of a floating interest rate cap has been gaining momentum as a possible solution. However, as you’ll read below, the Board still has some major concerns with this approach.
- League Monitoring Interest Rate Discussion at NCUA’s April 20 Board Meeting
April 18, 2023The NCUA board will be briefed on the federal credit union interest rate ceiling and issue a request for information on climate-related financial risk at its April 20 meeting. Your League urged NCUA to consider increasing the fixed rate cap or adopting a floating rate cap.