Latest News & VACUL Headlines
- Amendment to the Cyber-Related Sanctions Regulations, Associated Administrative List Updates
September 6, 2022OFAC is amending, and reissuing in their entirety, the Cyber-Related Sanctions Regulations, 31 C.F.R. part 578. This administrative action replaces the regulations that were published in abbreviated form on December 31, 2015, with a more comprehensive set of regulations that includes additional interpretive and definitional guidance, general licenses, and other regulatory provisions that will provide further guidance to the public.
- Economic Update Covers 'Eye-Popping' Loan Growth, Consumer Perceptions
September 6, 2022CUNA Chief Economist Mike Schenk discusses credit union development in the first half of the year and how that compares to banks in the August 2022 CUNA Economic Update.
- Risk, Reward Ahead for Banks in Run-Up to Midterms
September 5, 2022American Banker looks at the legislative landscape for financial institutions in the run-up to the mid-term elections.
- NCUA Allows for CUNA-Requested Flexibility in IRR Framework
September 2, 2022NCUA issued a Letter to Credit Unions (22-CU-09) Thursday updating its Interest Rate Risk (IRR) supervisory framework. CUNA wrote to NCUA last week sharing credit unions’ IRR concerns and requesting NCUA change its policies to provide greater examiner flexibility.
- Nussle: Notary Modernization Would Benefit Consumers
September 2, 2022It's time for Congress to make remote online notary (RON) a permanent option for homeowners and homebuyers nationwide, CUNA President/CEO Jim Nussle wrote in RealClearPolicy. In Virginia, notarizing a document “remotely” is already permissible. In fact, Virginia became the first state in 2012 to formally authorize and provide a legal framework for such notarizations. A national standard and broader acceptance of such services will make it easier for Virginia-based credit unions to utilize this option.
- NCUA Awards More Than $1.5 Million in CDRLF Grants; 3 Va.-Based CUs Among Grant Recipients
September 2, 2022NCUA has awarded more than $1.5 million in Community Development Revolving Loan Fund grants to help 90 low-income credit unions expand outreach to underserved communities, participate in mentoring relationships, receive training, and improve digital services and security. Virginia-based Richmond Heritage, RVA Financial and Virginia Educators were among the credit unions receiving grants.
- Housing Market has 'Further to Fall,' According to New Goldman Sachs Forecast
September 2, 2022Researchers at Goldman Sachs have released a new paper that now forecasts that activity in the U.S. housing market will end 2022 down across the board.
- CFPB Report: Many in Appalachia Region Have Higher Rates of Subprime Credit, Higher Rates of Medical Debt
September 2, 2022A new report from the CFPB that focuses on rural Appalachians found people in the region tend to earn less than consumers in other rural areas, have higher rates of subprime credit, and, in particular, see a much higher rate of medical debt collections.
- Report IDs 5 Trends Driving Digital Banking Landscape
September 2, 2022A research report has identified the “Five Trends Driving the Digital Banking Landscape.” The report from Alkami Technology explores how banks and credit unions are leveraging technology to improve the customer/member experience, increase digital engagement and become true partners when it comes to their consumers’ financial well-being.
- Pelosi Raises Flag On Data Privacy Bill's State Law Override
September 2, 2022House Speaker Nancy Pelosi on Thursday threw a wrench into efforts to enact federal privacy legislation that was recently sent to the House floor, saying that more work needs to be done to prevent the proposal from overriding California's more stringent privacy protections.