Latest News & VACUL Headlines
- National Credit Union Foundation Announces New Position, Strategic Reorganization to Support Financial Well-being for All
July 18, 2022In light of the continuing decline of the nation’s financial well-being and anticipation of further economic uncertainties, the National Credit Union Foundation (the Foundation) today announced a strategic reorganization to accelerate its mission. The charitable arm of the U.S. credit union movement says the move is designed to more effectively align its core outputs – education programs, grants program, and its events and speaking strategy.
- Want to Serve on CFPB's Credit Union Advisory Council? Application Deadline Fast Approaching
July 18, 2022The CFPB is accepting applications to its Credit Union Advisory Council (CUAC) and other advisory committees.
- CFPB Extends Late Fee ANPR Deadline to August 1
July 18, 2022The CFPB extended the comment deadline for its advance notice of proposed rulemaking on credit card late fees to August 1 (from the original July 17 deadline). CUNA called on the CFPB to extend the comment deadline by at least 60 days in a letter sent in June.
- Arlington Community FCU Awards $30,000 in Grants to Local Non-Profits
July 18, 2022Arlington Community Federal Credit Union awarded $30,000 in grants to organizations in Northern Virginia focused on housing opportunity, financial education and workforce development.
- CFPB’s Garnishment Order Makes a Muddle of Law, Procedure
July 18, 2022On May 4, the Consumer Financial Protection Bureau finalized an enforcement order against Bank of America. In its zeal to bring the Consumer Financial Protection Act to the aid of consumer-debtors, the CFPB makes a muddle of state commercial law and civil procedure.
- Banks Call for Housing Discrimination Scrutiny for Credit Unions
July 15, 2022A banker told Congress Wednesday that it should require credit unions to comply with the Community Reinvestment Act, which was created in 1977 to stop banks from discriminating against minorities for home loans.
- NAFCU, CUNA Support Cannabis, Remote Notarization Amendments to House Bill
July 15, 2022NAFCU and CUNA, along with the Independent Community Bankers of America (ICBA) and the American Bankers Association (ABA), jointly sent a letter to Reps. Nancy Pelosi (D-Calif.) and Kevin McCarthy (R-Calif.) on Wednesday to show their support of adding the SAFE Banking Act and the SECURE Notarization Act to the NDAA ahead of the full vote.
- House Passes NDAA with SAFE Banking Act Provisions; Longtime Champion Pledges to Keep Pushing for Senate Passage
July 15, 2022Financial institutions would be allowed to lend to cannabis companies under a defense authorization bill passed by the U.S. House late July 14. The bipartisan Secure and Fair Enforcement, or SAFE, Banking Act is on its way to the U.S. Senate.
- Financial Exploitation of the Elderly: New Duties for Credit Unions Under 2022 Virginia Legislation
July 15, 2022As of July 1st, credit unions and other financial institutions have new duties in connection with efforts to combat the financial exploitation of the elderly. Financial exploitation affects at least 10% of the elderly population in the U.S. and is a problem that continues to grow.
- League Compliance Update - Video and PowerPoint Resources
July 15, 2022League Compliance Hotline Attorney Jay Spruill (Woods Rogers Vandeventer Black law firm) recently outlined credit unions' most-pressing regulatory compliance issues and the emerging trends and topics that need to be on your radar.