CURRENT Newsletter | August 11, 2023

CURRENT Newsletter | August 11, 2023

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Upcoming Legislative Receptions: Join Us in Roanoke, Richmond & NoVA

We’re excited to continue our summer series of legislative receptions all across the Commonwealth, including upcoming events in Roanoke, Richmond and NoVA! Join us in advocating for your credit union and the Virginia credit union system at an event in your area. We are working with members of Congress to schedule our final reception in Hampton Roads. We will share this date and location as soon as it's set.

CUs, League Host Lawmakers, Officials at Legislative Reception in Harrisonburg

Forty-five credit union advocates, lawmakers and local officials last night participated in the League's second Legislative Reception of the summer. The Harrisonburg event was hosted by UVA Community Credit Union and drew participants from CommonWealth One Federal Credit Union, DuPont Community Credit Union and Park View Federal Credit Union.

REGular Blog: More Developments in CFPB Court Cases

We wrote last week about a Texas court that issued an injunction to stop the implementation of the CFPB's Section 1071 Rule. This rulemaking would impose additional reporting requirements on lenders who make a certain number of loans to small businesses. The reason for the injunction was that the Supreme Court will soon hear arguments on the Fifth Circuit's ruling that the CFPB's funding structure is unconstitutional, and the Texas court ruled that the CFPB cannot enforce the rule against the plaintiffs in their case until the Supreme Court rules in their case. There were a couple of related developments this week.

Related: CUs Urge Parity by Filing Motion to Intervene in District Court 1071 Ruling

Just Announced for GROWTH 2023: Using AI & Analytics to Fight and Win in Today’s Competitive Landscape

We’re excited to announce a timely addition to our upcoming GROWTH Conference lineup! Join us next month for a session titled, “Using AI and Analytics to Fight -- and Win -- in Today’s Competitive Landscape!” We’ll focus on how fintechs, analytics and AI are transforming the financial services industry and why you must be leveraging their power to engage today’s members.

Strategic Partnering: A Conversation with Credit Union Leagues Webinar Aug. 24

Partnerships among credit unions, their leagues, and the National Credit Union Administration can provide several benefits. Stakeholders can learn more about these partnerships during an NCUA-hosted webinar, “Strategic Partnering: A Conversation with Credit Union Leagues,” on Thursday, Aug. 24.

Quarterly Compliance Roundtable Sept. 6

Count on your League to help you manage today's complex regulatory compliance environment. We've scheduled a series of quarterly virtual roundtables in 2023 designed to aid your team in building its compliance resources, boosting its regulatory expertise and saving time. Each roundtable will be led by JT Blau, Chief Advocacy Officer at your League, and attorney Jay Spruill (Woods Rogers Vandeventer Black PLC), who serves as lead attorney for the League's Compliance Hotline.

Coming Oct. 25: Financial Well-Being for All Boot Camp

Your members need you. But are you doing enough to meet them where they are in life and in their financial journeys? This one-day bootcamp is designed to help you explore the correlation between member financial health and member satisfaction, product use and financial confidence.

July’s Credit Union Social Media Blitz Reaches 9 Million People

Thank you to all the Virginia-based credit unions that participated in the 3rd Annual #ILoveMyCreditUnion social media blitz on July 28! The Illinois Credit Union System (ICUS), in collaboration with more than 1,000 organizations, took to social media channels in celebration of the “Credit Union Difference.” There were more than 30,000 active engagements and more than 9 million people reached! (And a special shout-out to the Tidewater Chapter for carrying the celebration to the ballpark!)

TRGroup, Virginia League Plan Compliance, HR Conferences This September in Nashville

Your League is excited to participate in the TRGroup Compliance and Risk Management Conference & the TRGroup Human Resources Conference, being held Sept. 27 and 28 in Nashville, TN. These conferences will showcase a full range of informative, educational sessions on critical, timely issues related to compliance, risk management, cyber security, and Human Resources.

Essentials, Advanced IRA Training Set for Oct. 18-19 as Virtual Event

The highly skilled Ascensus trainers present virtual IRA workshops covering both essential and advanced IRA topics, delivered right to your desktop!

In Other News …

• ValleyStar Credit Union Launches ‘Scan Me, Win Me’ Car Giveaway 
• Vizo Financial Plans Financial Conference Sept. 13-15
• Comment Period on Quality Control Standards for AVMs Proposed Rule Closes August 21
• Deadline Is August 28 to File Comment on NCUA’s MDI Proposal
• Registration Open for NCUA DEI Summit Nov. 1-2
• TRGroup, League Hosting 2nd Annual Women's Conference
• Registration Open for NCUA DEI Summit Nov. 1-2