Latest News & VACUL Headlines
- League, African-American Credit Union Coalition Offering Scholarship to Attend AACUC Annual Conference; Submit Scholarship Application by Aug. 2
July 27, 2022Your League is seeking candidates for the Lynette Smith Scholarship, which benefits a Virginia-based African-American credit union professional or official. The scholarship provides $2,000 to cover the recipient's attendance at the African-American Credit Union Coalition’s Annual Conference. Reminder: the deadline to submit your scholarship application is Aug. 2.
- Recording Available: League President's Update for Member Credit Unions
July 27, 2022Many thanks to everyone who joined us today for League President/CEO Carrie Hunt's State of the Commonwealth/League Member Update. If you missed it, a recording of the event is available. League password is required. Register here if you need one.
- League's Carrie Hunt Featured on Financial Minds Podcast
July 27, 2022Calling all Virginia credit unions … this one is for you! Vizo Financial is continuing the Credit Union Leagues series in its Financial Minds podcast this week by chatting with Carrie Hunt, president/CEO of the Virginia Credit Union League
- NAFCU Compliance Blog: Periodic Mortgage Statements and the Automatic Stay
July 27, 2022So, the housing market is cooling down, but do you know what’s not cool? Sending mortgage statements in violation of the automatic stay. Today we’re dealing with the automatic stay and periodic mortgage statements. This especially concerns mortgage servicers.
- CFPB on Evolution of Banks’ Overdraft/NSF Fee Revenues and Policies
July 25, 2022In its July 20 blog post, the Consumer Financial Protection Bureau (CFPB) examines the evolution of banks’ reliance on overdraft and NSF fees since the publication of its report “Overdraft/NSF Fee Reliance Since 2015 – Evidence from Bank Call Reports” last December. The CFPB relied on additional data from the call report from the last three available quarters – the third quarter of 2021 through the first quarter of 2022.
- Credit Union Loans Increased 2.3% in May
July 25, 2022Credit union loans outstanding increased 2.3% in May, compared to a 1.9% increase in April of 2022 and a 0.8% increase in May of 2021, according to CUNA’s latest Monthly Credit Union Estimates.
- Fed’s Expected Move on Rates This Week Not Being Welcomed by Consumers
July 25, 2022With the Federal Reserve expected to raise interest rates against his week when it meets, consumers -- who say they are “fed up” with the job the central bank is doing -- can also expect to pay billions more in interest as the result, according to a new survey and analysis.
- MBA Trims Mortgage Forecasts as Recession Chances Are Now a 'Coin Flip'
July 25, 2022Expectations of continuing high interest rates, signs of a weakening housing market and a “coin flip” chance of a recession led the Mortgage Bankers Association to cut its forecast for originations in the second half of this year, and, to a lesser extent, through all of next year.
- Can a Small Credit Union Take a Bite Out of Apple Pay's Fees?
July 25, 2022A new lawsuit brought against Apple by a credit union aims to erode the tech giant’s grasp on the mobile payments market currently held by Apple Pay.
- TransUnion Fights CFPB in 'Groundhog Day' Lawsuit
July 25, 2022TransUnion, one of the three large credit bureaus, never wanted to be in litigation with its regulator the Consumer Financial Protection Bureau. But the Chicago-based credit reporting agency is fighting back in court after the CFPB sued the company and a former executive in April for allegedly violating a previous 2017 order.