Advocacy News
Join the conversation about the latest news and issues related to the laws, regulations, politics and issues impacting Virginia's credit unions.
- REGular Blog: Harper Signals Additional Reporting Requirement for Large CUs
February 6, 2024NCUA Chairman Todd Harper spoke today with the Brookings Institution. As is normally the case, the Chairman's prepared remarks were published on the NCUA's website and can be viewed here. However, the Chairman participated in some Q&A following the interview, during which he indicated that the NCUA will soon require credit unions with more than $1 billion in assets to report data on both overdraft and NSF fees separately to the NCUA, according to an article from American Banker.
- League Notes Concerns With NCUA Plan to Collect Overdraft, NSF Info From Large CUs
February 6, 2024Following a speech today at the Brookings Institution, National Credit Union Administration Chairman Todd Harper announced that the agency will soon require credit unions with more than $1 billion in assets to report data on both overdraft and nonsufficient funds fees separately to the NCUA. Read our REGular blog post for insights. “Credit unions have a long track record when it comes to overdraft and nonsufficient fees,” said League Chief Advocacy Officer JT Blau. “Credit unions have responsible programs that provide members with a valued service at a reasonable cost. We know, too, that these services carry risk, require back-office effort on the part of credit unions, and can be a meaningful deterrent that keeps members out of financial trouble. This signal from the agency adds to the legislative and regulatory headwinds credit unions are fighting when it comes to non-interest income. We continue to advocate on this critical issue with the NCUA, CFPB, and with Congress.”
- Peoples Advantage FCU CEO Amanda Habansky Participates in Interchange Meeting with Fed Board Vice Chair
February 6, 2024On Monday, Peoples Advantage Federal Credit Union CEO Amanda Habansky joined staff from America’s Credit Unions, various Leagues, and credit unions for a meeting with Federal Reserve Board of Governors’ Vice Chair Philip Jefferson. Credit unions met with Jefferson to discuss the pending rulemaking on Regulation II.
- Dinner Cruise to Benefit VACUPAC on May 2; Registration Open, Sponsorship Opportunities Available
February 2, 2024We'll host a sunset dinner cruise on May 2 in support of the Virginia Credit Union Political Action Committee (VACUPAC) and credit union advocacy! As part of IGNITE | the League Annual Meeting, the dinner cruise will feature a buffet meal and open bar aboard a luxury yacht.
- Credit Unions' Public Deposit Bill Fails to Advance in House Committee; Measure Dead for This Session
February 1, 2024Credit unions’ public deposits bill – H.B. 1205 – failed to advance in the House Labor and Commerce Committee today on a 13-to-9 vote. The Committee vote kills our bill for this session of the General Assembly. “Although disappointed with today’s vote, we can take some comfort in knowing we did all we could this past year to ensure this long-sought and important legislation received a fair hearing in the General Assembly,” said League President/CEO Carrie Hunt. “Unprecedented turnover in the General Assembly presented us with an opportunity and we seized it. The fight for this legislation enabled us to strengthen relationships with veteran lawmakers and build relationships with newly elected legislators that will pay dividends in the years to come.”
- REGular Blog: When Do Credit Union Mergers Not Need Member Approval?
January 31, 2024Credit unions acquiring banks has gotten a lot of headlines in the banking press world this year, with four bank asset acquisitions announced so far in 2024. However, another interesting merger story has played out behind the scenes a couple of times in recent weeks: NCUA approving mergers without a member vote.
- CUs’ Public Deposits Bill: Your Help Needed!
January 30, 2024Our grassroots efforts to fight for HB 1205, our public deposits bill, continue and we’re urging credit union champions to email lawmakers today in support of the measure.
- NCUA Sets Feb. 8 Webinar on 2024 Supervisory Priorities
January 29, 2024The NCUA released details on an upcoming webinar to discuss the agency’s 2024 supervisory priorities. The webinar will be held Feb. 8 at 2 p.m.
- REGular Blog: NCUA's 2024 Supervisory Priorities - Part 2
January 26, 2024Earlier this week we posted about the NCUA's newly-released 2024 Supervisory Priorities, with a focus on what changed from 2023 to 2024. Today we are focusing on the 2024 priorities and what they might have in store for credit unions.
- Nussle to Congress: Big Box Bailout Would Hurt Small Businesses
January 26, 2024Small business owners share their concerns with the big box bailout bill in a new video message sent to Congress Wednesday from America’s Credit Unions. President/CEO Jim Nussle re-emphasized the ongoing credit union opposition to interchange legislation (S. 1838/H.R. 3881). He urged lawmakers to watch the videos and hear directly from the business owners, financial services experts, and other stakeholders who support the credit card systems in place and the protections they provide.