Advocate Blog
Join the conversation about the latest laws, regulations and political issues having an impact on Virginia's credit unions.
- GAC Next Week: Details on League Events, Meetings Now Available
February 26, 2024Your League plans to host a number of “Hike The Hill” legislative visits and a Legislative Reception as part of our advocacy efforts at the Governmental Affairs Conference (GAC). GAC attendees: You should have received an invite on Feb. 26 to download the GAC 2024 mobile app. You can download the app from your app store. Search for “GAC 2024.”
- League Plans Full Slate of Advocacy Events for GAC
February 23, 2024Your League plans to host a number of “Hike The Hill” legislative visits and a Legislative Reception as part of our advocacy efforts at the Governmental Affairs Conference (GAC).
- Revocation of Consent Rule Addresses Credit Union Concerns
February 20, 2024The Federal Communications Commission (FCC) Thursday approved its proposal on revocation of consent under the Telephone Consumer Protection Act (TCPA). The rule approved Thursday reflects several changes requested by America’s Credit Unions—and its legacy organizations prior to the merger—during its engagement with the FCC on the subject.
- NCUA Call Report Update: Focus on Overdraft & NSF Fees; Penalties Resume
February 20, 2024If you’ve been following regulatory compliance developments over the past 18 months or so, then you’ve likely noticed that the regulatory agencies have increased their scrutiny of certain fees charged by credit unions. While numerous fees have been targeted, the agencies have focused the most attention on overdraft and non-sufficient funds (NSF) fees.
- League’s Reg Compliance Update Set for March 13
February 20, 2024Count on your League to help you manage today's complex regulatory compliance environment! We've scheduled the first of this year’s quarterly virtual updates for March 13. These virtual updates are designed to aid your team in building its compliance resources and boosting its regulatory expertise. Register now.
- League Offers Update on Key Legislative Issues at General Assembly's Halfway Point
February 16, 2024Feb. 13 was Crossover Day in the Virginia General Assembly. This marked the halfway point of the 2024 Session and is the deadline for bills to pass out of their chamber of origin to be considered by the other body. Here is a synopsis of this year’s major issues and where they currently stand.
- REGular Blog: FFIEC Issues Statement on Exam Principles Related to Real Estate Valuation Discrimination and Bias
February 16, 2024Just this week (Feb. 12, 2024), the Federal Financial Examination Council (FFIEC) issued a statement to communicate principles for the examination of residential property appraisal and evaluation (valuation) practices to mitigate risks that may arise due to potential discrimination or bias in those practices; and to promote credible valuations. When it comes time for your exam, whether it is a safety and soundness exam or a specific consumer compliance exam, expect a review of risk management processes for residential lending activity. Here are additional details to help your credit union prepare!
- NCUA Share Insurance Fund Update: Diving into CAMELS Code Data
February 15, 2024NCUA held its February Board meeting today, which included a quarterly update on the share insurance fund. We've seen a growth in both the number of CAMELS 3/4/5 credit unions, as well as the shares and assets they hold, in recent quarters. Let's see how things looked at year-end.
- League Engaged with Sens. Warner, Kaine Ahead of April 9 Hearing on Credit Card Competition Act
February 15, 2024Ahead of a planned April 9 hearing before the Senate Judiciary Committee, Sens. Dick Durbin (D-Ill.) and Roger Marshall (R-Kansas) have added two new cosponsors to their bill that would overhaul the rules governing credit card interchange. Your League remains actively engaged with Sens. Mark Warner and Tim Kaine on the issue. The measure remains our top legislative priority as we ready for the Governmental Affairs Conference and our “Hike the Hill” efforts next month in Washington.
- NCUA Issues HMDA Reg Alert
February 15, 2024The NCUA issued a Regulatory Alert to provide information on which credit unions must comply with the Home Mortgage Disclosure Act (HMDA) reporting requirements under the CFPB’s Regulation C. In the alert, the NCUA explained that credit unions must collect HMDA data associated with mortgage loan applications processed during 2024 if the credit union meets the four following criteria ...