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 Comments on CFPB's Small Biz Data Collection Proposal
January 7, 2022Your League this week submitted comments on the Consumer Financial Protection Bureau's proposed data collection under Section 1071 of Dodd-Frank, arguing the proposal represents an incredibly burdensome new regulation for community lenders, like credit unions.
- League President/CEO Carrie Hunt Asks NCUA to Reconsider Budget Increases, Consider New Strategies in Supporting CUs
December 9, 2021League President/CEO Carrie Hunt testified yesterday during the NCUA Board's public hearing on its proposed budget for 2022-2023. "Credit unions exist to provide provident credit and everything the agency does has a direct impact on that mission. Every dollar NCUA requires of credit unions is money credit unions cannot deploy for the benefit of their members and communities."
- CU-Supported Member Governance Bill Passes Committee
November 17, 2021CUNA wrote in support of two bills prior to the House Financial Services Committee markup Tuesday. The CUNA-supported Credit Union Governance Modernization Act (H.R. 2311) passed the committee unanimously by voice vote. H.R. 2311 would modernize the member expulsion process. H.R. 5911 would expand employment opportunities at banks and credit unions by reducing barriers to employment based on past minor criminal offenses.
- League Writes State Agency Over Costs Associated With COVID Testing
November 17, 2021Your League is today submitting a letter to the Virginia Department of Labor and Industry, asking that costs associated with COVID testing under the federal Occupational Safety and Health Administration's (OSHA) Emergency Temporary Standard not be borne by those state's employers that would fall under the ETS.
- League, Greater Hampton Roads CUs Hosting Dec. 1 Legislator Reception
November 16, 2021The Virginia Credit Union League and credit unions in Greater Hampton Roads are hosting a Legislator Reception on Dec. 1 ... and you’re invited! Here’s your chance to network with area lawmakers as we prepare for the 2022 General Assembly, as well as meet our newly elected legislators!
- Vaccine Mandate Rule: League Offers Initial Assessment; Seeks Answers on Key Legal Questions
November 5, 2021Well, the vaccine mandate rule came out yesterday -- all 490 pages of it! The actual rule part is small and digestible, albeit burdensome to implement. We offer an initial assessment of the rule and our employment law partners at Woods Rogers are working on answers to other key questions important to credit unions. Stay tuned!
- League Writes Treasury on Issues with Expanded IRS Reporting Requirements
October 25, 2021Your League last week wrote Treasury Secretary Janet Yellen to outline our concerns with a proposal to expand IRS reporting requirements.
- Virginia Reps Among 200-Plus Members of Congress Opposing Expanded IRS Reporting Requirements
October 22, 2021Four Virginia Congressmen have now signed on to various letters opposing expanded IRS reporting requirements - Reps. Wittman, Good, Cline and Griffith. They are among the more than 200 members of Congress who have expressed opposition to the IRS reporting proposal.
- SCC Hearing Next Week for Hugely Significant CU Field-of-Membership Case
October 19, 2021Virginia Credit Union and your League will be back before the State Corporation Commission next week, for the latest formal hearing in a now years-long field-of-membership case.
- League Comments on Bank Regulators' Interagency Guidance on Third-Party Relationships
October 18, 2021Your League has submitted comments to the FDIC, OCC and the Fed on the "Proposed Interagency Guidance on Third-Party Relationships: Risk Management." Noting that credit unions and banks use many of the same vendors, the League wrote credit unions have a deep interest in the proposal and how future action by the NCUA might be shaped by information gleaned from the work of the banking regulators.