Advocacy News
Join the conversation about the latest news and issues related to the laws, regulations, politics and issues impacting Virginia's credit unions.
- League Eager to Work on CU Issues with New NCUA Board Member Tanya Otsuka
January 8, 2024The Honorable Tanya Otsuka became the 25th Board Member of the National Credit Union Administration following a private swearing-in ceremony held at the agency’s Alexandria, Virginia, headquarters today. "The Virginia Credit Union League congratulates Ms. Otsuka and looks forward to working with her as a member of the NCUA board to ensure credit unions have the tools they need to serve members," said League President/CEO Carrie Hunt. "We are excited to see her bring her talents to the credit union industry."
- FinCEN Begins Accepting Beneficial Ownership Reports; League Notes Issues for CUs
January 8, 2024The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) has started to accept beneficial ownership information reports, in accordance with the Corporate Transparency Act. Your League recently published a blog post covering credit union compliance issues related to BOI.
- League’s Carrie Hunt Leads Effort in Support of Green-Lending Initiative for CUs
January 8, 2024League President/CEO Carrie Hunt assisted in leading an effort today to help secure funding from the Environmental Protection Agency for green-lending initiatives at Virginia-based credit unions, as well as nationally.
- Carrie Hunt Departing Virginia Credit Union League to Serve as Chief Advocacy Officer for America's Credit Unions
December 21, 2023The Virginia Credit Union League Board of Directors announced today that President/CEO Carrie Hunt will be leaving the League to serve as Chief Advocacy Officer for America’s Credit Unions, effective March 1, 2024.
- Regulatory Compliance Weekly Roundup: December 21, 2023
December 21, 2023Happy…Thursday everyone! With the holidays upon us, the weekly roundup is one day early this week! Here's a quick overview of some of the headlines from the week in regulatory compliance.
- Biden Vetoes Resolution to Void CFPB Section 1071 Rule
December 20, 2023An effort to void the Consumer Financial Protection Bureau’s (CFPB) section 1071 rule ended at the White House late Tuesday. As anticipated, President Joe Biden vetoed a resolution of disapproval (S.J. Res. 32) for the CFPB rule. The Senate passed the measure in October, followed by the House on December 1, and CUNA and NAFCU?wrote in support?of the resolution. Section 1071 is currently under a nationwide stay for all covered entities, after CUNA, Cornerstone League, and Rally Credit Union in Corpus Christi, Texas,?successfully challenged?the rule in court.
- Senate Confirms Otsuka to Serve on NCUA Board
December 20, 2023The Senate voted to confirm Tanya Otsuka to serve on the NCUA board Wednesday. Otsuka currently serves as senior counsel for the Senate Banking Committee and was nominated by President Joe Biden in September. "The Virginia Credit Union League looks forward to working with Ms. Otsuka as a member of the NCUA board," said League President/CEO Carrie Hunt. "We are excited to see her bring her talents to the credit union industry."
- CUs, League Meet With Rep. Wittman; Congressman Supports CUs on Biz Lending Measure for Vets, Interchange Bill
December 19, 2023Advocates from Henrico Federal Credit Union, Langley Federal Credit Union, Virginia Credit Union and your League met with Congressman Rob Wittman (R-1st) yesterday and his District Director Joe Schumacher at Henrico FCU’s headquarters. The newly drawn 1st Congressional District now includes parts of Chesterfield, Hanover, and Henrico as well as Williamsburg, the Middle Peninsula, and the Northern Neck.
- Credit Union Groups Call Out CNN’s Misleading Report on Credit Union Mortgage Lending Data
December 18, 2023The Credit Union National Association (CUNA), the National Association of Federally-Insured Credit Unions (NAFCU), and the African American Credit Union Coalition (AACUC) have released a statement on CNN’s misleading report on credit unions’ lending practices to minority and underserved communities.
- Advocacy In Action: League Highlights Week’s State, Federal Advocacy Work
December 15, 2023From meetings with lawmakers and elected officials to engagement with regulators, your League highlights this week's advocacy work.