CURRENT Newsletter | July 11, 2023

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CUs, League Hosting Legislative Receptions in August

Your League and credit unions will host a series of legislative receptions across the Commonwealth, Join us in advocating for your credit union and the Virginia credit union system at an event in your area!

• Aug. 2 – Shenandoah Valley Legislative Reception with Congressman Cline (R-06) – Hosted by UVA Community Credit Union (2060 Pro Pointe Lane, Harrisonburg)
• Aug. 24 – Richmond Metro Legislative Reception with Congresswoman McClellan (D-04) – Hosted by Credit Union House of Virginia (108 N. 8th Street, Richmond)
• Aug. 30 – Northern Virginia Legislative Reception with Congresswoman Wexton (D-10) – Hosted by Northwest FCU (200 Spring Street, Herndon)

Additional events will be scheduled in Roanoke and Greater Hampton Roads, so stay tuned!

Leagues, CUNA and NAFCU File Brief with U.S. Supreme Court on CFPB’s Leadership, Funding Structures

The American Association of Credit Union Leagues (AACUL), the Credit Union National Association (CUNA), and the National Association of Federally-Insured Credit Unions (NAFCU) have jointly filed an amicus brief with the U.S. Supreme Court as the nation's highest court is set to hear a case that might well decide the future of the Consumer Financial Protection Bureau.

REGular Blog: Deja Vu All Over Again - CFPB Fines Big Bank for Opening Fake Accounts

CFPB enforcement actions represent a good opportunity to review your credit union's policies, procedures and practices. Let's see what lessons we can learn from a review of CFPB's enforcement action against Bank of America for double-dipping on NSF fees, withholding cash and points rewards on credit cards, and using customer information to open unauthorized accounts.

New Study Notes Negative Impact of Interchange Regulation

As big box retailers push Congress to impose more government mandates on card payment systems and interchange, a new study reveals the continued negative impact of interchange legislation on consumers, small businesses, and financial services options. Information on the study is available at CUNA.org.

Report Your Financial Education Efforts By July 14

Your financial education efforts have never been more critical than they are right now. From community efforts to school initiatives, your work is vital in shifting the trajectory of financial literacy among young people. Please report your financial education efforts to the Credit Union Financial Education Network! Your efforts and reporting help the League showcase our financial education story to lawmakers and others.

Leagues, CUNA to Co-Host Small CU Conference in September; Early Bird Discount Through July 14

Coming this September: Your League is proud to co-present the Southeast Small Credit Union Conference! Curated specifically for the executives and board members of smaller shops, this low-cost event will focus heavily on generating income, loan-growth strategies, improving your bottom line, and ROA. Early bird discount ends July 14!

Richmond-Area EPN Event Slated for July 19

The League’s Greater Richmond Emerging Professionals Network is hosting a networking event on July 19, starting at 6 p.m. Location: Trapezium Brewery Co. (Petersburg). The event is free to attend, but we ask that you register to aid us in planning.

#iLoveMyCreditUnion Social Media Campaign Set for July 28

It's back! The third annual credit union social media blitz, the #ILoveMyCreditUnion initiative, is set to take place on July 28. We hope your credit union will participate!

Tidewater Chapter Hosting 'Night at the Ball Park' to Celebrate 'I Love My Credit Union'

The Tidewater Chapter is hosting a "Night at the Ball Park" on July 28 to celebrate two of our favorite things: #ILoveMyCreditUnion Day and cheering on our local baseball team – The Norfolk Tides!