Latest News & VACUL Headlines
- Here's How the Fed Will Read Today's Jobs Report
September 2, 2022The US has a jobs problem: There are too many of them. That sounds like a good thing — and it is for Americans who are facing higher prices on everything from groceries to rent. But the Federal Reserve isn't very happy about it ...
- One-in-Five Home Sellers Dropping Asking Price as Housing Market Cools
September 2, 2022Home sellers are getting nervous, as the once hot housing market cools fast. One in five sellers in August dropped their asking price, according to Realtor.com. A year ago that share was just 11%.
- CUNA Releases August Economic Update
September 2, 2022In the August 2022 CUNA Economic Update, Chief Economist Mike Schenk discusses credit union development in the first half of the year and how that compares to banks.
- FHA Announces Update to Home Equity Conversion Mortgage Program Requirements for Notice of Due and Payable Status
September 2, 2022The Federal Housing Administration (FHA) published Mortgagee Letter (ML) 2022-15, Update to Home Equity Conversion Mortgage (HECM) Program Requirements for Notice of Due and Payable Status.
- Waters Announces Financial Services Committee Schedule for September
September 2, 2022Rep. Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, recently announced the Committee's schedule for the month of September.
- Richmond-Area Credit Unions Raise $17,226 for VACUPAC
September 2, 2022Richmond-area credit unions and their business partners raised $17,226 for the Virginia Credit Union Political Action Committee (VACUPAC) through golf tournaments in 2021 and 2022.
- Interchange Bill Would ‘Over-Regulate’ Working System
September 2, 2022The last thing Congress should do right now is make life harder for consumers by imposing punishing regulations on their credit cards, Missouri State Rep. Phil Christofanelli wrote in The Missouri Times. Christofanelli wrote with concerns about the Marshall-Durbin interchange bill that CUNA, Leagues, and credit unions strongly oppose.
- Credit Union Subordinated Debt Levels Surge 162% Quarter-Over-Quarter Thanks to Treasury Program
September 1, 2022A government stimulus program sent credit union subordinated debt levels surging to another record high in the second quarter. Total outstanding credit union subordinated debt levels nearly tripled in the second quarter, largely due to the Treasury Department's Emergency Capital Investment Program, or ECIP.
- Green Banking Groups Want New Federal Money to Create National Bank
September 1, 2022Some industry leaders are advocating for billions of dollars in new federal funding for green banks to go toward a national nonprofit institution that could jump-start the clean energy market and help state and local banks. A green bank is a public, quasi-public or nonprofit institution that uses public funds to attract private investment in clean energy funds. More than 20 such banks now exist at the state and local level in the U.S.
- CUs, League Meet with Congressman Good; Key State Lawmakers Sen. Newman, Del. Byron
September 1, 2022Credit union advocates and your League held a series of meetings this week with federal and state lawmakers.