Latest News & VACUL Headlines
- 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.
- 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.