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's Comment Letter to CFPB on Fees: CUs' Fees Represent Cost of Doing Business, Some Fees Already Regulated
April 11, 2022We filed a comment letter today noting our concerns that the CFPB is attempting to move the financial service market towards a regime where all fees are included in the cost of credit. We believe this major market shift requires significant study, given that it would have a negative impact on credit unions and their members.
- Carrie's Latest Blog Post: Dolly Parton, Overdraft Programs and the Credit Union Mission!
April 8, 2022Dolly Parton, Overdraft Programs and the Credit Union Mission! In her latest blog post, League President/CEO Carrie Hunt discusses the lessons we can learn from Dolly in staying on brand -- in particular, the importance of staying on brand in the face of growing attacks on overdraft protection programs and fee income, in general. Lawmakers and regulators initially targeted big banks and their well-documented abuses. Unfortunately, we're being unfairly tarred with the same brush ...
- League Notes Member Demand, Benefits of CUs' Overdraft Protection Programs
April 8, 2022Your League has filed a letter for the record with the House Financial Services Subcommittee on Consumer Protection and Financial Institutions, following a hearing last week on overdraft protection programs.
- CU Parity Measures Reach Final Legislative Step; On Their Way to Governor's Desk and Becoming Law
March 1, 2022As of today, our two credit union parity measures have won final approval in both houses of the General Assembly and await the governor’s signature.
- League Celebrating the Commonwealth's Credit Unions at CUNA Governmental Affairs Conference
March 1, 2022Virginia is well-represented at this year's CUNA Governmental Affairs Conference, with more than 130 attendees on hand from 18 Virginia-based credit unions.
- BREAKING NEWS: Parity Measure Passes State Senate; On Fast Track to Passage in House
February 11, 2022Our parity powers legislation has passed the state Senate on a unanimous vote and is nearing passage in the House. Companion bills SB329 and HB209 will make the process easier for state-chartered credit unions to exercise the same powers as their federally chartered peers.
- League Offers Comments On NCUA's Draft Strategic Plan
January 25, 2022Your League on Monday filed comments on the National Credit Union Administration's draft strategic plan.
- League, Credit Unions Push Secondary Capital, 'Parity Powers' Bills in General Assembly
January 13, 2022The League and credit unions have two bills that were introduced this session – companion bills HB268/SB326 will fix the Virginia statute so that the NCUA’s Subordinated Debt Rule will not be in conflict with the Virginia Code. Companion bills HB209/SB329 will make the process easier for state-chartered credit unions to exercise the same powers as federally chartered credit unions. Currently, state-chartered credit unions must seek permission to do this; we are asking that be changed to a notice requirement.
- League Meets with Key Lawmakers, Newest Members of the House as General Assembly Convenes
January 12, 2022We're off and running at the Virginia General Assembly! This morning, League President/CEO Carrie Hunt and Grassroots Programs and Political Fundraising Director CeJae Vtipilson met with all 17 new members of the House or one of their key aides.
- Virginia League Joins System Partners in Calling for Relief from PCA Challenges
January 10, 2022The Virginia League joins system partners in asking for additional PCA relief. The current interim final rule is scheduled to expire March 31.