Latest News & VACUL Headlines
- 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.
- House Passes NDAA with SAFE Banking, CLF Extension
July 15, 2022The House passed the FY23 National Defense Authorization Act with several CUNA-supported provisions. The bill includes the Secure and Fair Enforcement (SAFE) Banking Act, extends CARES Act Central Liquidity Facility flexibility, and includes provisions to support fair hiring in financial services. Also of note: the NDAA contains provisions that would grant NCUA third-party vendor examination authority, which your League vehemently opposes. We'll remain engaged on this issue and legislation as the Senate takes up this measure.
- CDFI Certification Turns Financial Inclusion Values into Action
July 14, 2022While the pandemic shined a bright light on a number of latent societal issues, financial inequity was one of the most pertinent for credit unions. Driving right at the heart of the credit union purpose, the unavoidable fact that financial access in the U.S. is far from equal reenergized financial inclusion efforts across the industry. Among the programs igniting this renewed spark is the Community Development Financial Institution (CDFI) Fund, which has become the single largest source of grant funding available to credit unions serving low income and financially underserved communities.
- Four Winning Plays for Connecting with Members
July 14, 2022How can credit unions up their game and take an aggressive stance in the contest for trust and become their members’ most valued financial partner? In our work at CUNA Mutual Group, we see four distinct opportunities.
- Fed’s Top Banking Regulator Michael Barr Confirmed by Senate
July 14, 2022The Biden administration saw a key figure of its financial-regulatory team move into place as the Senate confirmed Michael Barr to become the government’s most influential banking regulator.
- Risk Alert: Corporate Check Fraud Reported
July 14, 2022Credit unions report their corporate check accounts are being fraudulently used.