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Latest News Posts
- League Supports NCUA's 'Financial Innovation' Rule; Salutes Board's Approach to Flexible, Principles-Based Regulation
September 21, 2023The National Credit Union Administration Board unanimously approved a final rule that amends the NCUA’s regulations regarding indirect lending, the purchase of loan participations, and the purchase, sale, and pledge of eligible obligations and notes of liquidating credit unions. “We appreciate the NCUA Board’s commitment to providing regulatory clarity and fostering opportunities for credit unions by allowing them to leverage partnerships and marketplace innovation,” said Virginia Credit Union League Chief Advocacy Officer JT Blau.
- League Welcomes News of Tanya Otsuka's Nomination for NCUA Board
September 21, 2023The Virginia Credit Union League is pleased to learn of the nomination of Tanya Otsuka to be a member of the National Credit Union Administration (NCUA) board. "The Virginia Credit Union League looks forward to working with Ms. Otsuka should she be confirmed," said League President/CEO Carrie Hunt. "We are very excited to see how she will bring her talents to the credit union industry."
- League Amps Up Urgent Call to Lawmakers to Avoid Government Shutdown
September 20, 2023Your League this week wrote every member of the Virginia Congressional delegation, urging them to avoid a government shutdown and the hardships that would follow for Virginians and the Commonwealth. Note: Credit unions will find this CUNA document helpful! It outlines the implications of a government shutdown for credit unions and their members. It also includes resources that will prove useful in the event of a government shutdown.
- Adverse Action Notices and AI Underwriting: CFPB Weighs In
September 20, 2023Yesterday the CFPB issued guidance on the use of artificial intelligence in loan underwriting, specifically on how to properly issue an Adverse Action Notice (AAN) when you use AI or complex credit models in your decisioning process.
- League Monitoring NCUA Board's Consideration This Week of 'Financial Innovation' Rule
September 20, 2023The National Credit Union Administration Board will tomorrow consider its financial innovation rule, which is designed to make fintech partnerships easier for federally insured credit unions. “We appreciate the NCUA Board’s commitment to providing regulatory clarity and addressing marketplace changes brought about by technology or evolving market opportunities,” said League President/CEO Carrie Hunt. “It’s important the industry continues to work with NCUA to identify opportunities to update regulations such as this. It’s why the League considers participation and engagement during the regulatory review process so important.”
- Credit Card Rate Cap Bill Would Hurt Consumers, Negatively Impact Access to Credit
September 20, 2023Your League today reached out to U.S. Sens. Mark Warner and Tim Kaine, asking that they oppose legislation from Sen. Josh Hawley, R-Mo., that would cap credit card interest rates at 18 percent.
- FinCEN Releases Beneficial Ownership Small Entity Compliance Guide
September 19, 2023Hello everyone! As summer comes to a close tomorrow, it’s a stark reminder of how close to the end of the year we suddenly are. When the ball drops and rings in 2024, it will bring with it FinCEN's new beneficial ownership information (BOI) reporting rule!
- League Writes Congressional Delegation; Urges Lawmakers to Avoid Government Shutdown
September 19, 2023Your League has written every member of the Virginia Congressional delegation, urging them to avoid a government shutdown and the hardships that would follow for Virginians and the Commonwealth.
- League Writes Congressional Delegation; Urges Lawmakers to Avoid Government Shutdown
September 18, 2023Your League today wrote every member of the Virginia Congressional delegation, urging them to avoid a government shutdown and the hardships that would follow for Virginians and the Commonwealth.
- Chartway Promise Foundation Grants Wishes for Three Promise Heroes
September 18, 2023Through partnerships with organizations like Toby's Dream Foundation, Hooked on Hope, and Make-A-Wish, the Chartway Promise Foundation makes dreams come true for medically fragile children. With Pediatric Cancer Awareness Month in September, the foundation put three heartwarming stories of hope and resilience center stage during recent events, leaving an indelible mark on all who witnessed them.