Advocate Blog
Join the conversation about the latest laws, regulations and political issues having an impact on Virginia's credit unions.
- Supreme Court Ruling Means CFPB Must Start Over on Payday Loan Rules, Attorney Argues
May 17, 2022A Fifth Circuit Court panel is questioning whether a U.S. Supreme Court ruling requires the Consumer Financial Protection Bureau to invalidate a 2020 payday rule and to restart the process of new payday loan regulations.
- League Engages With Senators on Interchange, Overdraft; Urges Lawmakers to Leave Current Systems in Place
May 9, 2022Your League closely monitored two key Congressional hearings last week covering interchange and overdraft protection programs, while also joining with our credit unions and other financial services trades in writing Congress about the dangers and unintended consequences of altering the current regulatory models governing interchange and overdraft programs.
- League, The United Methodist Credit Union Meet with Congressman McEachin
May 6, 2022The Virginia Credit Union League held a very productive meeting with Congressman Donald McEachin (D-4th) on May 5, 2022 at United Methodist Credit Union (TUMCU). VACUL President/CEO Carrie Hunt and TUMCU President/CEO Jim Eads had a very enlightening discussion with the Congressman, discussing the great and innovative work done by TUMCU and other Virginia credit union for their members and communities.
- CUNA, AACUL, Leagues Oppose Any Expansion of Durbin Amendment
May 4, 2022Expansion of the Durbin Amendment to the credit market will lead to less spending power for consumers, CUNA, the American Association of Credit Union Leagues, and all credit union Leagues wrote to the Senate Judiciary Committee Tuesday. The committee is conducting a hearing Wednesday on interchange fees.
- League Showcases Advocacy Efforts, Most-Pressing Issues at Ignite 2022
April 28, 2022Much of our programming at Ignite focused on our legislative and regulatory affairs work on behalf of credit unions, though we also spotlighted the key legislative and regulatory issues confronting credit unions.
- League Writes Sens. Warner, Kaine on Interchange Fee Hearing
April 28, 2022In advance of the U.S. Senate Judiciary Committee's scheduled May 4 hearing on interchange fees, your League has sent letters to Sens. Mark Warner and Tim Kaine explaining the necessity of these small fees to ensure the safety and security of members’ data and to combat fraud.
- Leagues, CUNA Write Banking Committees in Advance of Hearings with CFPB's Chopra
April 26, 2022Your League has joined with CUNA and our fellow leagues in reaching out via letter to the Senate Banking Committee and House Financial Services Committee in advance of the committees’ hearings with Consumer Financial Protection Bureau Director Rohit Chopra.
- Comments Submitted to CFPB in Response to RFI on Fees
April 18, 2022CUNA strongly objected to the Bureau's classification of a broad range of common financial services fees as “junk fees" in comments submitted to the CFPB last week. “The RFI characterizes a broad range of common fees in consumer financial services as so-called “junk fees” that obscure the true cost of financial services,” the letter reads, adding CUNA’s strong objection to this “deceptive language.” Your League has also commented.
- Letter Supporting SAFE Banking Act Sent to House Conferees of COMPETES Act
April 18, 2022CUNA wrote to the House Conferees of the America COMPETES Act in support of including the Secure and Fair Enforcement (SAFE) Banking Act in the final version of the legislation. The America COMPETES Act passed the House in February with the SAFE Banking Act attached, but passed the Senate without, so the differences will be worked out in conference committee.
- CUs, League Celebrate After Governor Signs Parity Measures into Law
April 13, 2022The Commonwealth’s credit unions are celebrating Gov. Glenn Youngkin’s signing of two parity measures for state-chartered credit unions, both of which are set to become law July 1. “These parity measures represent our commitment to ensuring credit unions have the tools they need to serve their members,” said Virginia Credit Union League President/CEO Carrie Hunt.