Latest News & VACUL Headlines
- Lawmakers Back Fintechs Making SBA Loans
July 22, 2022Senators Tim Scott, R-S.C., and John Hickenlooper, R-Colo., and Reps. Jason Crow, D-Colo., and Byron Donalds, R-Fla., urged Small Business Administrator Isabella Guzman to lift the moratorium on allowing financial technology firms to serve as small business lending companies and to include them under its flagship small business loan program.
- Bill to Regulate Stablecoins in Offing
July 22, 2022New legislation to regulate stablecoins is more likely as U.S. lawmakers moved closer to a bipartisan agreement to impose basic safeguards on volatile cryptocurrency markets, The Wall Street Journal reported.
- Crypto-Regulation Bill Unlikely to Get Senate Vote This Year, Lummis Says
July 22, 2022A sweeping piece of legislation that would overhaul how the cryptocurrency industry is regulated by Washington is unlikely to be voted on this year by the US Senate, according to one of the lawmakers driving the effort.
- EMERGE Leadership Certification Program - EPN Seminar: Overview of Credit Union System, Philosophy, Understanding Financials/Key Ratios, and Legislative Advocacy
July 22, 2022Gain an understanding of what makes credit unions tick and our role in the financial services marketplace, including the financials that drive our success, the philosophy on which our industry was built, and the obligation each of us has in advocating for credit unions.
- CFPB Extends Comment Deadline for Customer Service RFI to Aug. 22
July 21, 2022The Consumer Financial Protection Bureau (CFPB) extended the comment deadline for its customer service request for information (RFI) by 60 days. The new deadline is Aug. 22. CFPB seeks "comments from the public related to relationship banking and how consumers can assert the right to obtain timely responses to requests for information about their accounts from banks and credit unions with more than $10 billion in assets.
- House Committee Passes Remote Online Notary Legislation
July 21, 2022The House Energy and Commerce Committee passed the Securing and Enabling Commerce Using Remote and Electronic Notarization Act of 2021 (H.R. 3962). A bipartisan group of Virginia lawmakers had signed on in support of the measure.
- DCCU Announces New Fishersville Location
July 20, 2022DuPont Community Credit Union (DCCU) will open its 14th branch later this summer. The Windward Pointe Member Center will be located in the Food Lion shopping center in Fishersville, Virginia.
- CUs Told to Prepare for Climate Change Regs
July 20, 2022In an unseasonably warm day in Scotland, credit union leaders from around the globe who are gathered here were urged to prepare for coming regulations around sustainable finance, including those related to climate change. “Regulations are coming. It’s going to create a significant regulatory burden. A lot of climate related reporting is coming.”
- Bill Would Bring Closer a Major Overhaul of AML Laws
July 20, 2022A major overhaul of America’s anti-money laundering laws is another step closer after the House of Representatives’ most recent action, according to one analysis. The bipartisan Establishing New Authorities for Businesses Laundering and Enabling Risks to Security (ENABLERS) Act was included in House-passed version of the National Defense Authorization Act.
- 'Minibus' Bill Funds Priorities Important to CUs, Communities
July 20, 2022The “minibus” appropriations bill set for a House vote this week includes appropriate funding levels for credit union priorities, including Treasury’s Community Development Financial Institutions Fund and NCUA’s Community Development Revolving Loan Fund.