Latest News & VACUL Headlines
- League Opposes Senate Bill S.4698, The Improving Cybersecurity of Credit Unions Act
August 5, 2022Your League is strongly opposed to a proposed Senate bill which would grant the NCUA examination authority over CUSOs and third-party vendors and is advocating against its advancement.
- Lawsuit Says Equifax Error Made Loan Pricier
August 5, 2022A Florida woman has sued Atlanta-based Equifax claiming she was denied a car loan because of a 130-point mistake in her credit report that she says was part of a larger group of credit score errors the ratings agency made this spring due to a coding problem.
- State Corporation Commission Denies Addition of Virginia Medical Society to Virginia Credit Union’s Field-of-Membership
August 3, 2022In a disappointing decision with potential national implications for field-of-membership expansions, the Virginia State Corporation Commission has denied authorization for Virginia Credit Union to add a group of state medical professionals to its field-of-membership.
- Economic Update Covers High-Interest Rate, High-Inflation Environment
August 2, 2022The latest economic and credit union system outlook is available in CUNA's latest?Economic Update video, with CUNA’s Senior Economist Dawit Kebede leading the discussion.
- NAFCU Compliance Blog: CFPB Releases Report Highlighting Military Complaints
August 1, 2022The Consumer Financial Protection Bureau’s (CFPB) Office of Servicemember Affairs released its annual report identifying trends among consumer complaints submitted by servicemembers, veterans, and their families. The report highlights credit and consumer reporting issues and medical billing and collection issues as some of the most common types of complaints received by the Office of Servicemember Affairs.
- 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.