Latest News & VACUL Headlines
- Letter to Credit Unions (22-CU-09) Updates to Interest Rate Risk Supervisory Framework
September 1, 2022The NCUA has revised its interest rate risk (IRR) supervisory framework and issued the attached Supervisory Letter to exam staff to increase clarity and flexibility. The changes to the IRR supervisory framework will improve the focus of the NCUA’s supervision of IRR in credit unions given current market conditions.
- US Housing Market: House Price Growth Decelerates in June
September 1, 2022House prices in the U.S. continued to slow in June, increasing 18.0% year over year, below May's 19.9% growth,
according to the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index. The index was up 0.3% from the
previous month after seasonal adjustment. - Record Pace of Bank Branch Closings May Finally Be Slowing
September 1, 2022U.S. banks hastened a shift to digital platforms during the height of the pandemic and, in the process, accelerated the pace of branch closures in a trend that continues into this year. However, the Biden administration may have thrown a lifeline to brick-and-mortar banking.
- AACUC Celebrates Best of DEI, CU Thought Leaders
September 1, 2022More than 400 executives, young professionals and change agents reunited, reignited and recharged at the African-American Credit Union Coalition’s (AACUC) 24th Annual Conference at St. Pete Beach, Fla.
- Credit Card Rewards Would Be Collateral Damage in ‘Durbin 2.0’ Bill
September 1, 2022A proposed bill co-authored by Sen. Dick Durbin aims to add competition to the 'duopoly' of Visa and Mastercard, but financial institutions say it would harm consumers by sharply reducing credit card loyalty programs.
- Five CU Leaders Make Virginia Business Magazine's List for Most-Influential Leaders
August 31, 2022A number of Virginia-based credit union executives made Virginia Business Magazine's "Virginia 500" list of the most influential leaders in the financial services and insurance industries.
- Rumored Regulation E, EFTA Expansion from CFPB is ‘Unwise, Unlawful’
August 31, 2022The Consumer Financial Protection Bureau’s (CFPB) rumored plan to expand Regulation E and the Electronic Fund Transfer Act (EFTA) is unlawful, would contravene the bill’s text, and would run afoul of the Administrative Procedures Act, CUNA wrote to the CFPB Tuesday.
- Democratic Group Says People of Color, Low-Income Communities Continue to be Financially Excluded; Backs Expansion of Postal Banking
August 31, 2022A new report from the Joint Economic Committee Democrats says people of color and low-income communities continue to be disproportionately harmed by banking and financial exclusion, and among its recommended remedies is expanded postal banking.
- More Americans Buying Everyday Items, Especially Food, Using BNPL; Delinquencies Rise
August 31, 2022As consumers face higher prices, more people are getting into financial trouble for using buy now, pay later (BNPL) financing for everyday purchases, especially groceries.
- How to Apply for American Banker's 'Most Powerful Women in Credit Unions'
August 31, 2022American Banker's Most Powerful Women in Credit Unions celebrates the senior executives guiding the future of the credit union industry, while also examining issues of mentorship and inclusion.