Advocate Blog
Join the conversation about the latest laws, regulations and political issues having an impact on Virginia's credit unions.
- Interchange Bills Would Increase Costs, Decrease Financial Access
September 27, 2022The Credit Card Competition Act would push more people away from access to financial products and services. CUNA, Leagues, and credit unions strongly oppose the bill, introduced by Sens. Roger Marshall, R-Kan., and Duck Durbin, D-Ill., in the Senate and Reps. Lance Gooden, R-Texas, and Peter Welch, D-Vt., in the House.
- League Sends New Round of Letters to Congress on Interchange
September 27, 2022Following the recent introduction of a House version of the Credit Competition Act of 2022 (H.R. 8874), your League sent a new round of letters to every member of our Congressional delegation, noting our opposition to the House and Senate legislation and to any proposed changes to the current payments system.
- Draft Bill Lets Nonbanks Issue Stablecoins, Bans Algorithmic Coins for Two Years
September 21, 2022Nearly finalized legislation between Democrats and Republicans on the House Financial Services Committee would authorize the Federal Reserve to license nonbank stablecoin issuers and introduce a two-year moratorium for algorithmic stablecoins.
- League, CUNA Oppose House Interchange Bill
September 19, 2022Reps. Peter Welch, D-Vt., and Lance Gooden, R-Texas, introduced the House version of the Credit Card Competition Act Monday. CUNA, Leagues, and credit unions strongly oppose the bill, which would allow merchants to route payments through an unaffiliated network.
- League, CUs Engage With Lawmakers During Busy Week on Capitol Hill
September 16, 2022Your League and member credit unions met this week (in-person, via virtual meeting or both) with Rep. Rob Wittman (R-1st), Rep. Elaine Luria (D-2nd), and Sens. Mark Warner and Tim Kaine to discuss interchange and other federal-level legislative priorities. During the past eight weeks, we've met with every member of our Congressional delegation -- in some cases, multiple times -- to lobby for our issues.
- CUs, League Make Case for ‘Credit Union Difference’ in Meeting with CFPB's Chopra; Note Impact of ‘One-Size-Fits-All’ Regulation, Ever-Evolving Regulatory Challenges
September 13, 2022In a meeting Monday with Consumer Financial Protection Bureau Director Rohit Chopra and Senior Policy Advisor (External Affairs) Charles Johanek, your League and leaders from 12 member credit unions discussed our regulatory priorities and how our ability to serve members is affected by an ever-evolving -- and challenging -- regulatory landscape.
- Richmond-Area Credit Unions Raise $17,226 for VACUPAC
September 2, 2022Richmond-area credit unions and their business partners raised $17,226 for the Virginia Credit Union Political Action Committee (VACUPAC) through golf tournaments in 2021 and 2022.
- CUs, League Host Greater Hampton Roads Lawmakers at Aug. 23 Reception
August 24, 2022Credit unions and the League played host to 10 lawmakers and legislative aides at a legislative reception in Newport News on Aug. 23.
- Rep. Morgan Griffith Signs on as Co-Sponsor of CU Board Modernization Bill
August 23, 2022Following credit union and League advocacy efforts, Rep. Morgan Griffith (R-9th) has signed on to H.R. 6889 (Credit Union Board Modernization Act) as a co-sponsor. This bill revises the frequency of meetings required to be held by a federally chartered credit union's board of directors.
- Virginia's Credit Union Advocates to Gather in Washington at 2023 CUNA GAC
August 23, 2022CUNA Governmental Affairs Conference (GAC), the credit union industry’s premier advocacy event, returns to Washington, D.C., Feb. 26 to March 2, 2023.