CURRENT Newsletter | July 7, 2023

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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.

Regulatory Compliance Weekly Roundup: July 7, 2023

Here's a quick recap of some of this week's regulatory highlights, including news from the NCUA and CFPB.

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!

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.

Apply Now for the CFPB Credit Union Advisory Council

The Consumer Financial Protection Bureau (CFPB) is now accepting applications for its Credit Union Advisory Council (CUAC). The CUAC is one of four CFPB advisory committees - Consumer Advisory Board, Community Bank Advisory Council, and the Academic Research Council. Applications are due on July 16.

Save the Date: NCUA to Host Aug. 2 Webinar on New Cyber Incident Reporting Rule

Credit unions can get valuable information on the National Credit Union Administration’s new cyber incident notifications rule on an Aug. 2 webinar hosted by the agency.

#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!

Other Articles of Interest

• Rep. Good Joins CUs, League at Danville Event
• Diversity Insight: You Are Welcome Here (features Spectra Credit Union)
• CFPB Report Shows Late Fees are Not a Top Complaint — for a Reason
• Federal Reserve Minutes: Some Officials Wanted to Raise Interest Rates Last Month
• With One-Third of NCUA's Rules Up for Review, NAFCU IDs Areas for Action
• Mortgages, home equity loans lead CU loan growth in April
• General Assembly remains at odds over budget talks
• The CFPB's 2022 Fair Lending Annual Report to Congress
• Why banks can’t underestimate consumers’ growing comfort with fintechs
• CUNA's Latest Economic Update Covers Labor Conditions
• Foundation announces Workshop 2023 to help credit unions serve Hispanic consumers
• Net Interest Margins Continue to Shrink at Credit Unions
• Study sees growth in payments powered by stablecoins